6min chapter

In Our Time cover image

The California Gold Rush

In Our Time

CHAPTER

What Was the Condition Like for the Gold Hunters?

$600 million worth of gold is extracted between 1848 and 1860, which is dollars in their terms. The amount of gold in circulation in the U.S. increases by 20 times. And so the American economy gets this incredible infusion of wealth that will help transform the country. But there's a rapid, rapid increase in the amount ofGold in circulation. Prices in California, prices in San Francisco, skyrocket, and people are paying for everything with gold because gold is what they have to circulate.

00:00

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode