The History of Denver

Nestled at the foot of the Rocky Mountains lies the city of Denver, Colorado. Now recognized as a bustling metropolis filled with a diverse population, award-winning restaurants, world-class museums, and vibrant neighborhoods, the history of Denver offers a fantastic look at westward expansion, pioneers, and the gold rush. Denver has transformed dramatically from beginning as a frontier town during the Pike’s Peak Gold Rush to its present-day status as a major U.S. city.

The Early Years: 1858-1860s

The history of Denver begins with its founding in 1858 during the Pike’s Peak Gold Rush. William Larimer, a land speculator from Kansas, laid claim to a square mile of land on the high bluffs overlooking the confluence of Cherry Creek and the South Platte River. He named this settlement Denver City after James W. Denver, the governor of Kansas Territory, hoping to curry favor. However, Governor Denver had already resigned when Larimer sent off the proposition.

Denver City was a frontier town during the early years, primarily serving as a supply hub for miners seeking their fortunes in the mountains. The promise of gold brought people from all over the country, transforming Denver into a bustling, somewhat disorderly settlement.

The Silver Boom and Statehood: 1870s-1890s

In the 1870s, Denver had begun to mature, evolving from a frontier town into a city of importance in the West. The railroad’s arrival in 1870 brought prosperity, turning Denver into a key trade point. 1876 Colorado was admitted to the Union, and Denver City dropped the “City” from its name to become the state capital in 1881.

The 1880s marked the Silver Boom, bringing another surge of growth and wealth to Denver. Stately buildings, like the Tabor Grand Opera House, rose, and by the end of the decade, Denver had grown to ten times its previous size. However, the Silver Crash of 1893 plunged the city into a deep economic depression.

The Panic of 1893

The Silver Panic of 1893, also known as The Panic of 1893, was one of the most severe economic crises in the history of the United States, with significant ramifications, particularly for the silver mining industry and places like Denver, Colorado.

By the late 19th century, the U.S. was effectively on a bimetallic standard, coining gold and silver and maintaining a value ratio. However, significant silver discoveries, such as those in the Comstock Lode in Nevada, increased the silver supply. This abundance of silver threatened to disrupt the ratio and depreciate the value of the silver.

In the early 1890s, the Sherman Silver Purchase Act of 1890 was enacted to boost the American economy and help struggling farmers by requiring the U.S. government to purchase large amounts of silver. This act drove up silver prices and increased speculation and the amount of paper money in circulation, which led to inflation.

However, in 1893, a series of events led to the economic downturn known as the Silver Panic. For one, the overbuilding and shaky financing of the U.S. railroad industry led to a series of bankruptcies. Then, due to various economic factors, including over-speculation and the British investment withdrawal, a stock market crash ensued.

With the economy struggling, confidence in the U.S. government’s ability to back paper currency with silver came into question. People began trading their paper money for gold, causing a run on gold. In response to the depletion of the country’s gold reserves, President Grover Cleveland repealed the Sherman Silver Purchase Act.

The repeal, however, devastated the silver market. The demand for silver plummeted, causing its price to fall dramatically. This directly impacted the mining industry, particularly in the West, where many silver mines were forced to shut down.

In places like Denver, the collapse of the silver market led to bank failures, business bankruptcies, and high unemployment rates, and once-booming silver towns became ghost towns. The economic depression lasted four years, until 1897, and is considered one of the worst in American history.

The Silver Panic of 1893 marked the end of the era of silver as a backbone of the American monetary system. Gold became the de facto standard from then on, a shift formalized by the Gold Standard Act of 1900. This had lasting impacts on the economy, particularly in the Western states that had once thrived on silver mining.

The 20th Century: 1900s-1990s

Denver in the 20th century is a fascinating study in growth, adaptation, and reinvention. The city began the century recovering from the Silver Panic of 1893 and ended it as a flourishing hub for business, arts, and outdoor activities.

In the early 1900s, Denver continued to establish itself as the economic and cultural center of the Rocky Mountain region. Its location as a transportation crossroads contributed to its growth. Denver became a central hub for railroads, and when the automobile came into widespread use, it was situated on important national highway systems. And in 1908, the city hosted the Democratic National Convention, catapulting it onto the national stage.

During World War II, Denver’s economy diversified as it became a center for processing minerals and energy, and federal agencies expanded their presence in the Denver area. Several military bases were established in or near the city, including Lowry Air Force Base, Fitzsimons Army Hospital, and the Rocky Mountain Arsenal. The war also brought an influx of new residents drawn by the booming wartime economy.

In the post-war period, Denver continued to swell, fueled by a significant increase in oil and gas production. The population nearly doubled from 1950 to 1970. During this time, Denver began to experience some of the problems associated with rapid growth, including traffic congestion and pollution.

In the 1960s and 70s, Denver made significant strides in cultural and recreational amenities, opening the Denver Performing Arts Complex, Mile High Stadium, and the Denver Art Museum. In 1976, Denver was chosen to host the Winter Olympics. Still, voters later declined to allocate funds for the event, which was moved to Innsbruck, Austria.

The 1980s brought an oil bust, and Denver’s economy suffered. However, this economic downturn spurred a diversification of Denver’s economy. New sectors, such as technology and telecommunications, began to grow, laying the foundation for future economic stability.

In the 1990s and early 2000s, Denver continued to grow and reinvent itself. The city’s infrastructure was updated, with projects such as the expansion of Denver International Airport and the construction of Coors Field (now Empower Field) and the Pepsi Center (Ball Arena). The city also began focusing on revitalizing its downtown area, leading to the development of the 16th Street Mall and the LoDo (Lower Downtown) district.

By the end of the 20th century, Denver had firmly established itself as a significant cultural, economic, and outdoor recreational destination in the United States. It continues to thrive and grow, shaping its identity with a blend of Western heritage and modern innovation.

Throughout the 20th century, Denver also became increasingly known for its dedication to outdoor activities and natural beauty, with the development of a vast park system, the accessibility of the Rocky Mountains, and a focus on outdoor recreation that continues to this day.

The Modern Era: 2000s-Present

The new millennium marked a period of resurgence for Denver. A wave of gentrification began transforming older neighborhoods into trendy enclaves. Denver’s downtown district saw the development of the Denver Art Museum, the reimagining of the historic Union Station, and the construction of new sports stadiums.

In 2008, Denver once again hosted the Democratic National Convention, symbolizing its rising prominence. Legalizing recreational marijuana in 2014 boosted the economy and enhanced Denver’s reputation as a progressive city.

Today, Denver is a thriving metropolis known for its high quality of life, outdoor recreation, cultural attractions, and booming economy. However, despite its modern amenities and progress, the city retains a connection to its historical past, seen in its preserved Victorian architecture and the stories of gold miners, cowboys, and pioneers that continue to permeate its identity.

Throughout its history, Denver has demonstrated a pattern of resilience and adaptation. From a small mining town to the vibrant and diverse city it is today, Denver has continually reinvented itself while staying true to its roots. As we look to the future, the city’s rich history continues to inform its ongoing growth and transformation, shaping Denver’s unique character and charm.

While this overview provides a broad look at Denver’s history, the city’s past is a tapestry of fascinating stories, individual experiences, and historic events. Each chapter of Denver’s history has contributed to its rich and diverse heritage, making it the vibrant city it is today.