Question

What do you mean by gold rush and how it became the reasons for the tassels among the europeans?

Answer 1

A gold rush is a new discovery of gold—sometimes accompanied by other precious metals and rare earth minerals—that brings an onrush of miners seeking their fortune. Major gold rushes took place in the 19th century in Australia, New Zealand, Brazil, Canada, South Africa and the United States, while smaller gold rushes took place elsewhere.

The wealth that resulted was distributed widely because of reduced migration costs and low barriers to entry. While gold miningitself was unprofitable for most diggers and mine owners, some people made large fortunes, and the merchants and transportation facilities made large profits. The resulting increase in the world's gold supply stimulated global trade and investment. Historians have written extensively about the migration, trade, colonization and environmental history associated with gold rushes.[2]

Gold rushes were typically marked by a general buoyant feeling of a "free for all" in income mobility, in which any single individual might become abundantly wealthy almost instantly, as expressed in the California Dream.

Gold rushes helped spur a huge immigration that often led to permanent settlement of new regions. Activities propelled by gold rushes define significant aspects of the culture of the Australian and North American frontiers. At a time when the world's money supply was based on gold, the newly mined gold provided economic stimulus far beyond the gold fields.

Gold rushes extend as far back to the Roman Empire, whose gold mining was described by Diodorus Siculus and Pliny the Elder, and probably further back to ancient Egypt.