The Great Pikes Peak Gold Rush Author:Robert L. Brown Colorado's Pike Peak Gold Rush was an event of enormous social and cultural significance. Its effects reached far beyond the immediate area of the gold strikes, changing the basic economy and life style of an entire region. Ever since Lieutenant Zebulon Pike led an exploring party of twenty-two men up the Arkansas River in 1806, the 14,110 foot ... more »high mountain that he used as a landmark has been known as Pikes Peak. With the passing years the huge summit became the best known geographical feature of the region. When it was rumored that gold had been found near Cherry Creek, the mountain's name became synonymous with the wild westward rush that ensued in the spring of 1859. But in reality the goldfields were some 90 miles away to the northwest. Nevertheless, "Pikes Peak or Bust" became the most popular catch phrase among slogan conscious westbound Argonauts. Because America was still attempting to recover from the aftermath of the Panic of 1857, tens of thousands of those affected responded to the lure of quick and easy riches. They came from most of the other states and from several foreign countries. Less than half of those who left the East actually reached the Pikes Peak country. Only an estimated one in ten ever found any of the yellow metal. Many others never even bothered to look. As a result of the rush the Smoky Hill Trail came into general use, a substantial number of new towns were founded, a whole new territory was formed and finally, in 1876, the fledgling state of Colorado emerged.« less