How Did The San Francisco Gold Rush Affect The Economy

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The San Francisco Gold Rush had a huge impact on the economy. In the early days of the gold rush, gold seekers made their living primarily by mining gold, but many business opportunities related to the gold rush soon emerged. Merchants began to establish stores and bars in San Francisco to supply the goods and services needed by the gold seekers, such as food, drink, utensils, cameras, and so on. In addition, as more people came to San Francisco, the real estate market began to boom. The growing population and business opportunities led to a rush of construction and rising land prices. The discovery of gold also brought new technology and industry. Gold miners needed more efficient tools and equipment to mine gold, so machine-building and transportation

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