The term institution commonly applies to both informal institutions such as customs or behavior pattern important to a society, and to particular formal institutions created by entities such as the government and public services.
Gold was first discovered in Southeast Alaska in the 1870s. The first discovery was made near Sitka in 1872 and the second was made in 1876 in Windham Bay. These finds followed the discovery of gold nearby in British Columbia in 1861.
From 1898, the newspapers that had encouraged so many to travel to the Klondike lost interest in it. In the summer of 1899, gold was discovered around Nome in west Alaska, and many prospectors left the Klondike for the new goldfields, marking the end of the rush.