The Gold Rush was a place where miners
could make and lose a lot of money. There were many ways to earn money.
The most common technique for making money was mining. Mining was a
common technique because the reason they
came to California was because
of a gold strike. Miners used pans, long toms, cradles, hydraulic
hoses, and coyote holes.
Some miners would get millions of dollars in
their time mining, but most left California disappointed and broke.
Although mining was common, setting up shops and
inns was also a very prosperous way to get money. It was extremely
successful for the fact that the supplies were limited, and shops had
food, tools, and other things that miners needed to get
so they could
make money. The miners needed supplies, and shop owners knew that. The
shop owners raised the prices
because they knew the miners would still
pay for the provisions. The prices were very high because the shop
almost all their supplies. They wanted to make a profit,
and they had to pay for the supplies to be shipped there, which was
also very expensive. So, they raised the prices. The California
Gold Rush was merciless when it came to money.