Pioneer Pieces: The Wealth of the Comstock Reaches Far

The wealth produced in the Comstock mines had an enormous affect on the nation's economy.

Nevada's role in the Civil War was also huge - the Union wanted one more state with northern sympathies for Lincoln's Emancipation Proclamation.  Nevada's annual production, even in that time, was nearly 35 million in silver bullion! What a great aid to the Union troops!  At the time it became the 36th state in 1864, Nevada had less than 1/6th of the population required for statehood - but hey - Nevada had something the US needed.

The Comstock's wealth was also significant in San Francisco prior to and after the great fire of 1906.  Lavish financing for expansion was made possible by the Comstock wealth of Con-Virginia, Gould and Curry, Hale and Norcross and other celebrated mines of Virginia City.

After the 1906 fire, these wealthy businesses helped to rebuild San Francisco's Palace Hotel (see Luxury at Its Finest post), the Flood and Sharon Buildings, the Fairmont Hotel, the Pacific Union Club, and the San Francisco Examiner.

John MacKay, the richest and most farsighted of all the "silver kings", acquired a monopoly of the world's cable services (telegraph, not TV).  His wife reportedly spent huge sums entertaining in London and Paris.  MacKay, however, is remembered for his great generousity upon his death to many charitable institutions.

How long did this frenzy of Virginia City last?  Next time...