<Tr> <Td> 1854 </Td> <Td> 63,000 </Td> <Td> 50,000 </Td> </Tr> <P> The Gold Rush stimulated economies around the world as well . Farmers in Chile, Australia, and Hawaii found a huge new market for their food; British manufactured goods were in high demand; clothing and even prefabricated houses arrived from China . The return of large amounts of California gold to pay for these goods raised prices and stimulated investment and the creation of jobs around the world . Australian prospector Edward Hargraves, noting similarities between the geography of California and his home country, returned to Australia to discover gold and spark the Australian gold rushes . Preceding the Gold Rush, the United States was on a bi-metallic standard, but the sudden increase in physical gold supply increased the relative value of physical silver and drove silver money from circulation . The increase in gold supply also created a monetary supply shock . </P> <P> Within a few years after the end of the Gold Rush, in 1863, the groundbreaking ceremony for the western leg of the First Transcontinental Railroad was held in Sacramento . The line's completion, some six years later, financed in part with Gold Rush money, united California with the central and eastern United States . Travel that had taken weeks or even months could now be accomplished in days . </P> <P> California's name became indelibly connected with the Gold Rush, and fast success in a new world became known as the "California Dream ." California was perceived as a place of new beginnings, where great wealth could reward hard work and good luck . Historian H.W. Brands noted that in the years after the Gold Rush, the California Dream spread across the nation: </P>

What are some effects of the california gold rush