how much profit did they make the first time?
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when was the gold rush how did it effect california It was in 1848–1855 and it developed the commerce in california. what is california gold rush? It was a gold rush that began on January 24, 1848, when gold was found by James W. Marshall at Sutter's Mill in Coloma, California. when was this mill founded? UNANSWERABLE where is this mill located? South Fork American River. when was the gold rush discovered? 1848. how did the people transport it to california? UNANSWERABLE were any people driven out during this time? Yes, the Native Californians. can you tell me one reason for them being driven out? To easily mine gold on the natives land. where was gold discovered earlier? Placerita Canyon. were there any legal rights related to the gold rush? Since there were no official laws at the start, the miners informally adapted Mexican mining law that had existed in California. did the people make any profits out of this gold rush? Yes.
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California Gold Rush [SEP] Profits
Recent scholarship confirms that merchants made far more money than miners during the Gold Rush. The wealthiest man in California during the early years of the rush was Samuel Brannan, a tireless self-promoter, shopkeeper and newspaper publisher. Brannan opened the first supply stores in Sacramento, Coloma, and other spots in the goldfields. Just as the rush began he purchased all the prospecting supplies available in San Francisco and re-sold them at a substantial profit. Some gold-seekers made a significant amount of money. On average, half the gold-seekers made a modest profit, after taking all expenses into account; economic historians have suggested that white miners were more successful than black, Indian, or Chinese miners.