Leadville was a classic boom and bust mining town. Gold was discovered during the “Pikes Peak gold rush” of 1859, followed by rich silver ore in the early 1870s. By the mid-1880s Leadville was Colorado’s second largest city and the most famous silver mining camp on Earth. Leadville is famous as the home of Baby Doe Tabor and the Matchless Mine, and as the site of “Doc” Holliday’s last gunfight. Another fascinating story in Leadville’s past is that of the Winter Carnival of 1896 and the Leadville Ice Palace.

Hard Times for Leadville Hotel and Saloon Owners

In July 1893 the Sherman Silver Purchase Act was repealed. The price of silver crashed from $1.60 per troy ounce to less than sixty cents per ounce. Mines went bankrupt and Leadville fell into an economic depression. Its 1893 population of over 40,000 dwindled to less than 15,000 by 1895.

In 1895 Leadville hotels and saloons were teetering on bankruptcy as mines closed down and miners left for more exciting territories. Three railroads served Leadville, but far more people left on the trains than arrived to spend money.


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