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With the focus on precious metals lately, I wanted to share a free chapter from my Panic Prosperity and Progress book about a germane period in financial history related to the California Gold Rush of the mid-19th century. Enjoy!

The California Gold Rush is one of the most universally-known eras of American history, but it is also one of the most widely-misunderstood. It obviously altered the importance of California (which today reigns as one of the most important technological and business powerhouses on Earth), but it was just as important to the history of the entire nation in the decades that followed gold’s initial discovery at Sutter’s Mill.

There were not any meaningful financial markets for it to affect, but the gold rush laid the foundation for some important personal fortunes and fundamental Californian characteristics that lived far past the middle of the 19^th century.

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