Economy: Great Depression and Mr. Sutter Essay

Submitted By Gabrielle36
Words: 2076
Pages: 9

Delia Higgins
HIS204: American History Since 1865
Instructor: Kimberly Hornback
The economy

The Economy
What I thought was amazing is what I knew was wrong. The economy in general is really bad no matter how you look at. I choose the economy as my topic because I knew it was something that I can relate to. I knew that every event that I choose in some way I could kind of relate to it. No matter what year it is the economy is the economy. The events that I choose to talk about in my paper are Gold discovered at John Sutter mill and California gold rush begins 1848, Knights of Labor founded 1869, The Revenue Act or Wilson-Gorman Tariff 1894, Great depression 1929, august A bull market begins on Wall Street 1982, and the Recession 2008-present.
John Sutter first discovered the gold in Coloma in the year 1848 while he was building his saw-mill. The mill contractor was James W. Marshall who is from New Jersey. Mr. Marshall arrived at John Sutter office on a rainy afternoon, he had told Mr. Sutter that he had some interesting news that he needed to tell him. He ask Mr. Sutter if it was possible if they could go somewhere quite in order for them talk about the interesting news he has for him. They went to a room where they made sure no one around was actually going to be listening. Mr. Sutter knew the only person around was his clerk, who was on the opposite side of his home. Mr. Marshall took out a rag that was in his pocket that had a piece of yellow metal. In this rag it had to be at least about two ounces of that yellow metal. The pieces that he had shown Mr. Sutter was pieces that had worth at least a few dollars. But they were very small pieces and specimens. Mr. Marshall said that the yellow metal might had been gold. Mr. Sutter declared this gold to be the finest quality which was at least 23 carats. That was after proving the metal was an aqua forits. Through all the heavy rain Mr. Marshall was worried about gold still being at the bottom of the mill. And being washed up. Mr. Sutter race to the mill to make sure that he picked up pieces of the gold that Mr. Marshall found in the Mill. The workers even picked up piece to give to Mr. Sutter home.” Mr. Sutter said that he would get a ring made as soon as he was in California.”(Brands, H. W. 2003) The first gold was made in January 1848. It really smart that John wanted to keep the finding of the gold a secret for a while. Knowing how people my response is important. Or how some people might take the information and use it as their own finding. When the secret was out about the gold, John Sutters help started to leave him, first one at a time then in large groups. When the gold was discovered it destroyed so much of the plans that were in the making. He knew he could succeed if he had did everything differently. “Instead of being rich, I am ruined, and the cause of it is the long delay of the United States Land Commission of the United States Courts, through the great influence of the squatter lawyers.” (Brands, H. W. 2003). Gold now is worth a lot of money. Thanks for the founding that had been made. Gold has become a huge profit for many people. Now in this day of age you can either but gold or sell gold either way it go, gold is a major profit.
In the year of 1869 in Philadelphia the Knight of the labor had begun, which was a secret society. Now this society came upon slowly but surely during the years of the 1870’s. Now during the railroad strike of 1877 the militancy rose toward the end the decade, which also the membership of the Knights also rose along with it. The leader of the Knights was Grand Master Workman Terrence V. Powderly which was in the year 1879 which had flourished. 1886, the Knights had about 700,000 members. “Powderly dispensed with the earlier rules of secrecy and committed the organization to seeking the eight-hour day, abolition of child labor, equal pay for equal work, and political reforms including the graduated income tax.