The Mechanics of Optimism: Mining Companies, Technology, and the Hot Spring Gold Rush, Montana Territory, 1864-1868 (Mining the American West)

Historian Jeffrey J. Safford examines how gold mining ventures were developed and financed during and after the Civil War, and how men, primarily Easterners with scant knowledge of mining, were willing to invest large sums in gold mines that promised quick and lucrative returns.

Safford explains how these mining companies were organized and underwritten, and why a little-known district in southwestern Montana was chosen as a center of operations. Relying on extensive primary sources, Safford addresses the mind-set of the businessmen, the expectations and realities of new mining technology, the financial strategies, and the universality of the Hot Spring experience.