March 24

Events - Economy & Industry

1870day.year

A Chilean prospecting party led by José Díaz Gana discovers the silver ores of Caracoles in the Bolivian portion of Atacama Desert, leading to the last of the Chilean silver rushes and a diplomatic dispute over its taxation between Chile and Bolivia.

In 1870, silver ores were discovered at Caracoles in the Bolivian Atacama Desert, sparking the final Chilean silver rush and a tax dispute with Bolivia.
On March 24, 1870, a Chilean prospecting party led by José Díaz Gana uncovered rich silver deposits at Caracoles. This discovery triggered the last major silver rush in Chile, drawing hundreds of miners and investors to the remote desert. The newfound wealth intensified diplomatic tensions as Bolivia sought to tax the operations, leading to a protracted dispute over jurisdiction. The Caracoles boom fueled economic growth in northern Chile but also exacerbated political frictions in the region. The site remained a symbol of resource-driven conflict in the Atacama.
1870 Caracoles Atacama Desert Chilean silver rushes
1900day.year

Carnegie Steel Company is formed in New Jersey; its capitalization of $160 million is the largest to date.

In 1900, the Carnegie Steel Company was established with a capitalization of $160 million, the largest at the time.
On March 24, 1900, Andrew Carnegie consolidated his steel interests into the Carnegie Steel Company based in New Jersey. With a capitalization of $160 million, it became the most heavily financed industrial enterprise of the era. Carnegie Steel pioneered mass production techniques and efficient mill operations, driving down costs. The company’s success fueled America’s rapid industrialization and urban growth. In 1901, it would merge into U.S. Steel, establishing the first billion-dollar corporation. Carnegie’s business model became a blueprint for modern corporate organization.
1900 Carnegie Steel Company New Jersey