Question 3/4

Who made the most money from the Gold Rush?

A. Miners

B. Merchants

O

C. Ferry boat captains

O

D. Chinese laborers

B. Merchants

Explanation:

Sam Brannan was the great beneficiary of this new found wealth. Prices increased rapidly and during this period his store had a turnover of $150,000 a month (almost $4 million in today's money).

Josiah Belden was another man who made his fortune from the gold rush.

These people were merchants who traded gold and stored them up, so when the price appreciate they sell it.

The effects of the Gold Rush were substantial.

However, the Gold Rush also had negative effects: Native Americans were attacked and pushed off traditional lands, and gold mining caused environmental harm. The Gold Rush started at Sutter's Mill, near Coloma on January 24, 1848.