Fairbanks, Alaska

Fairbanks, Alaska was founded by Captain Barnett in 1901 when his steam boat, the Lavelle Young, was grounded in what is now Downtown. He had originally been trying to set up a trading post in Tanacross, where the Tanana River met the Eagle - Valdez Trail. When he ran aground, the miners in the area immediately bought supplies and convinced him to set up the trading post in Fairbanks. This proved to be a wise decision because Felix Pedro first struck gold in 1902. The Territorial Courthouse was moved from Eagle to Fairbanks in 1903 and insured its continued existence.

Fairbanks has always been a boom, bust town. First with gold, then with World War II and the Alaskan Canadian Highway and finally during the building of the Oil Pipeline. It has a varied history and population. The population of the City of Fairbanks is a little over 35,000 and close to 98,000 in the Fairbanks metropolitan area. It is the 2nd largest city in Alaska and is the hub of travel and commerce for the interior and northern villages and towns.

Gold is still a large part of the economy. The Fort Knox Gold Mine produced 333,000 troy ounces of gold in 2007. Current price per once:1,372.75

Labels: