Placer Minning
Sifting for gold. Easy access to gold
Lode mining
The chance of bigger amounts is harder(Pickaxes).
California Population Explosion
1% of the nation moved to California
Gold Rush Economics
fast growth, wild speculation, high prices — few got rich, most didn’t.
Squatters Rights
settlers’ claim to buy and keep the land they improved before it was legally open for sale.
Prior Appropriation/Appropriative
If you were there first you get to use it you have say on the water first.
Gold Standard
A monetary system in which a country’s currency is directly tied to a fixed quantity of gold.
Monetary Injection
More money in the system = more spending, but risk of inflation
Inflation/Deflation
Inflation = prices up, money is worth less.
Deflation = prices down, money is worth more.
Price Gouging
Spikes prices to goals and resources
Riparian Doctrine
Riparian = water rights belong to riverbank landowners.
Beneficial Use Doctrine
Use water productively or lose your rights.
