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In 1848, gold was discovered at Sutter’s Mill in California, sparking a massive rush of people hoping to get rich. Within months, tens of thousands of miners and settlers poured into towns like San Francisco, dramatically increasing the local population. This sudden influx of people created an immediate surge in demand for food, shelter, and everyday goods, while the supply of these items remained limited. As a result, prices for basic necessities soared — for example, a single egg could cost as
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