California Gold and the Civil War

“It is a question whether the United States could have stood the shock of the great rebellion of 1861 had the California gold discovery not been made. Bankers and business men of New York in 1864 did not hesitate to admit that but for the gold of California, which monthly poured its five or six millions into that financial center, the bottom would have dropped out of everything. These timely arrivals so strengthened the nerves of trade and stimulated business as to enable the Government to sell its bonds at a time when its credit was its life-blood and the main reliance by which to feed, clothe and maintain its armies …. The hand of Providence so plainly seen in the discovery of gold is no less manifest in the time chosen for its accomplishment.”