The Gold Mining Boom of the 1850s | New World Economics
· Mining discoveries and development indeed led to a major increase in world gold production. Estimated world production of gold was 17 metric tons in 1830. Some minor discoveries in Russia and elsewhere brought this to 23 tons in 1840, and 54 tons in 1847 – already a big increase. However, the California gold rush, beginning in January 1848, caused .