The rush for treasure in the West is more than part of a picturesque past; it has profoundly shaped our present.
On January 24, 1848, one hundred and fifty years ago this month, a man named James Marshall was inspecting a millrace that he had just constructed on the American River, not far from Sacramento, California.
Asked how he had managed to acquire his vast fortune, Commodore Vanderbilt is supposed to have replied, “I seen my opportunities and I took ‘em.” As always, Vanderbilt’s perspicacity was far ahead of his grammar, and he had put his finger directly on capitalism’s secret weapon.