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37-446: It was built by David Marks Hyman, one of the earliest investors in silver mining during Aspen's early years; it is the only building in Aspen he is known to have financed. Originally home to a bank, it was one of the largest commercial blocks built during the city's boomtown period. Later it was used for several car-related businesses, including a dealership and drive-through gas station in

74-512: A Senate/House conference committee to settle differences between the Senate and House versions of the Act, Sherman was instrumental in getting the conference committee to reach agreement on a final draft of the Act. Nonetheless, once agreement on the final version was reached in the conference committee, Sherman found that he disagreed with many sections of the act. So tepid was Sherman's support that when he

111-553: A deep-water port, which used to be small but geographically centrally located, was the third largest city of the Habsburg monarchy . Due to the many new borders, World War II and the Cold War, the city was completely isolated, abandoned and shrank for a long time. The handling of goods in the port and property prices fell sharply. Only when the surrounding countries joined the EU did Trieste return to

148-477: A dramatic surge in population and economic activity during the Industrial Revolution at the turn of the 19th century. In pre-industrial England these towns had been relative backwaters, compared to the more important market towns of Bristol , Norwich , and York , but they soon became major urban and industrial centres. Although these boomtowns did not directly owe their sudden growth to the discovery of

185-579: A local natural resource, the factories were set up there to take advantage of the excellent Midlands infrastructure and the availability of large seams of cheap coal for fuel. Another typical boom town is Trieste in Italy. In the 19th century the free port and the opening of the Suez Canal began an extremely strong economic development. At the beginning of the First World War, the former fishing village with

222-690: A mining-specific boomtown into three categories: The initial increasing population in Perth, Western Australia , Australia (considered to be a modern-day boomtown) gave rise to overcrowding of residential accommodation as well as squatter populations. "The real future of Perth is not in Perth's hands but in Melbourne (and London) where Rio Tinto and BHP Billiton run their organizations", indicating that some boomtowns' growth and sustainability are controlled by an outside entity. Boomtowns are typically extremely dependent on

259-457: A planned basis. Since the late 20th century, mining companies have developed temporary communities to service a mine-site, building all the accommodation shops and services, using prefabricated housing or other buildings, making dormitories out of shipping containers, and removed all such structures as the resource was worked out. Boom towns are usually established in 5-12 years Sherman Silver Purchase Act The Sherman Silver Purchase Act

296-592: A thousand. As in the Aspen Block, the corner space was converted into a service station. The onetime bank lobbies had the only ceilings high enough for trucks to fit under and shelter them from snowfall. Other spaces were given over to a dealership and repair shop. After World War II , another owner took over the gas station. Aspen gradually became one of the first ski resorts in the Western United States , and its economy improved. The Aspen Music Festival used

333-613: A vast number of workers, and Johannesburg in South Africa , based on the gold and diamond trade. Boomtowns are typically characterized as "overnight expansions" in both population and money, as people stream into the community for mining prospects, high-paying jobs, attractive amenities or climate, or other opportunities. Typically, newcomers are drawn by high salaries or the prospect of "striking it rich" in mining; meanwhile, numerous indirect businesses develop to cater to workers often eager to spend their large paychecks. Often, boomtowns are

370-512: Is a community that undergoes sudden and rapid population and economic growth , or that is started from scratch. The growth is normally attributed to the nearby discovery of a precious resource such as gold , silver , or oil , although the term can also be applied to communities growing very rapidly for different reasons, such as a proximity to a major metropolitan area , huge construction project, or attractive climate. Early boomtowns, such as Leeds , Liverpool , and Manchester , experienced

407-488: Is for the most successful people in the world. It so happens that they like to wear Gucci. Where's the problem?" he told Vanity Fair in 2001. When he died in 2005, shortly after Louis Vuitton announced it would move to larger quarters on Mill Street, the Hyman–Brand was estimated to be worth as much as $ 15 million. [REDACTED] Media related to Hyman-Brand Building at Wikimedia Commons Boomtown A boomtown

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444-426: Is topped with a semicircular plaque with "BRAND BLDG. 1891 ASPEN COLO." lettered on it. Above the second story, is a double modillioned cornice in three courses , higher in the middle where the roof has a parapet . Behind it is an open-air rooftop cafe, with umbrellas over the tables. A flagpole stands above the corner. The interior of the building is given over to the stores on the first floor with hotel rooms on

481-555: The East after college and established a business selling crêpes which he then parlayed into real estate , Baldwin restored the Hyman–Brand and leased it out as a retail space. A few years later, Baldwin returned to New York City and devoted most of his time and energy to real estate there. In 1988 he returned to Aspen and bought the Collins Block next door. He began to transform both properties into visible symbols of Aspen's cachet among

518-534: The 1890s from 80 cents to approximately 50 cents increased public anxiety on their continued ability to convert silver dollars and banknotes into gold. The result was a run on the Treasury's gold stock and the onset of the Panic of 1893 . President Grover Cleveland summoned an emergency session of Congress on August 7, 1893, for the repeal of the act to prevent the further depletion of the government's gold reserves. In 1890,

555-486: The Collins Block The area became known as "Glitter Gulch", a nickname that soon also came to be used for Aspen as a whole. Some residents lamented the open acknowledgement of Aspen's association with celebrity and wealth, recalling the days of the early 1970s when the city's lack of pretense had so attracted those visitors in the first place, and they mixed freely with locals. Baldwin saw it as simply inevitable. "Aspen

592-525: The Galena frontage and 10 on Hopkins. Two full-height pilasters separate the corner bay and the two-bay portions on either side. Along Hopkins the next section is a single bay, then two each in the next three sections and another pilaster at the corner. The Galena facade has three in the next section, above the Gucci boutique. A narrow single bay is followed by two three-bay sections with the same treatment. Most of

629-524: The National Register. To the west along East Hopkins is another Register-listed property, the Collins Block . The neighborhood is urban and densely developed, with a mixture of historic and sympathetic modern two- and three-story commercial buildings predominating. Structurally it has brick walls, faced in heavily rusticated peachblow sandstone . It is two stories in height. A single- bay clipped corner entrance divides two street facades , 12 bays on

666-712: The President's approval. Under the Act, the federal government purchased millions of ounces of silver, with issues of paper currency. It became the second-largest buyer in the world, after the British Crown in India, where the Indian rupee was backed by silver rather than gold. Instead of the $ 2 million to $ 4 million that had been required by the Bland–Allison Act of 1878, the US government

703-549: The building's dominant position within the city helped it survive after the repeal of the Sherman Silver Purchase Act in response to the Panic of 1893 brought an end to the boom years of early Aspen. The metal's price collapsed to market levels once the federal government was no longer required to purchase it, and the city's population steadily declined. Many smaller buildings from the boom years stood vacant and abandoned, their neglect leaving them victim to fire and

740-477: The city by the railroads that Hyman and Wheeler had briefly put aside their differences to bring up the Roaring Fork Valley in the late 1880s. The Hyman was one of the largest commercial buildings erected in Aspen during the early mining boom. Built for $ 30,000 ($ 1,017,000 in modern dollars), it rivaled in size and prestige the Aspen Block to the south, built by D.R.C. Brown, another major early developer of

777-596: The city. Both the Aspen and the Hyman shared the same major tenant: the First National Bank of Aspen. In the Hyman it occupied the corner suite. The bank was known in its time for serving lavish lunches with fine wines. Other retail tenants included jewelers and a grocery store. The upper space had some offices but was mostly given over to a meeting hall of the Patriotic Order Sons of Liberty. The bank's presence and

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814-420: The corner where the bank lobby had once been. In 1971 local entrepreneur Harley Baldwin saved it from demolition, and along with the neighboring Collins Block later renovated it into an area now known as "Glitter Gulch". Today it is home to some upscale boutiques and art galleries. The building is located at the southwest corner of the intersection, on the opposite corner from Aspen City Hall , also listed on

851-413: The economic center of Europe. In the mid-19th century, boomtowns that were based on natural resources began to proliferate as companies and individuals discovered new mining prospects across the world. The California Gold Rush of the Western United States stimulated numerous boomtowns in that period, as settlements seemed to spring up overnight in the river valleys, mountains, and deserts around what

888-426: The effects of Aspen's severe and lengthy high-altitude winters. The order's former meeting room was a popular venue for local dance events. Another entrepreneur, Michael H. Brand, bought the building in the 1920s. He adapted it for use to serve the growing population of automobile users, a mode of transportation then making its presence felt in the remote mountain town, its population by then a historic low of less than

925-547: The government to increase the demand for silver. Originally, the bill was simply known as the Silver Purchase Act of 1890. Only after the bill was signed into law did it become the "Sherman Silver Purchase Act." Senator John Sherman , an Ohio Republican and chairman of the Senate Finance Committee, was not the author of the bill, but once both houses of Congress had passed the Act and the Act had been sent to

962-475: The government to pass the Sherman Silver Purchase Act to boost the economy and cause inflation , allowing them to pay their debts with cheaper dollars. Mining companies, meanwhile, had extracted vast quantities of silver from western mines. The resulting oversupply drove down the price of their product, often to below the point at which the silver could be profitably extracted. They hoped to enlist

999-405: The international rich and famous, easing out longtime tenants like a hardware store in favor of upscale fashion retailers like Louis Vuitton , Dior and Gucci . Baldwin opened the art gallery that still bears his name in the building as well. The upper story of the Hyman–Brand became the exclusive Aspen Hotel, where guests had membership privileges at the exclusive Caribou Club in the basement of

1036-505: The meeting hall space for orchestra rehearsals in the 1950s, before it developed its own facilities outside of town. The Hyman–Brand began to feel the effects of time and its radical conversion several decades earlier. By 1970 the gas station was no longer a viable business, and the building was condemned and slated for demolition . The following year it was saved when Harley Baldwin bought it for $ 170,000 ($ 1,279,000 in contemporary dollars). A man in his mid-20s who had driven out to Aspen from

1073-478: The richest citizens of the emerging community, building a fortune from the Colorado Silver Boom . Like fellow early Aspen mining entrepreneur Jerome B. Wheeler , his rival and adversary in a bitter legal battle over one particularly rich silver lode, he made his statement with large buildings bearing his name. The Hyman Building was faced in the same peachblow sandstone as Wheeler's Opera House , brought to

1110-468: The second, many of which retain some of the original woodwork. Inside the Dior boutique the bank vault and door from the bank originally in that space remain. The door has its original artistic decoration. David Marks Hyman, a Bavarian -born Harvard -educated Cincinnati lawyer, came to Aspen in the early 1880s to take more direct control of silver mines friends of his had invested his money in. He became one of

1147-430: The single activity or resource that is causing the boom (e.g., one or more nearby mines, mills, or resorts), and when the resources are depleted or the resource economy undergoes a "bust" (e.g., catastrophic resource price collapse), boomtowns can often decrease in size as fast as they initially grew. Sometimes, all or nearly the entire population can desert the town, resulting in a ghost town . This can also take place on

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1184-465: The site of both economic prosperity and social disruption , as the local culture and infrastructure , if any, struggles to accommodate the waves of new residents. General problems associated with this fast growth can include: doctor shortages, inadequate medical and/or educational facilities, housing shortages, sewage disposal problems, and a lack of recreational activities for new residents. The University of Denver separates problems associated with

1221-489: The street level is devoted to retail storefronts, their entrances covered in awnings . A Dior boutique occupies the corner space, with Gucci on either side. An art gallery occupies the space to the south of Gucci along Galena. Fenestration on the upper story consists of one-over-one double-hung sash windows . The five on the Hopkins side, and the first four on Galena, are taller and have taller upper panes. The corner window

1258-567: Was a United States federal law enacted on July 14, 1890. The measure did not authorize the free and unlimited coinage of silver that the Free Silver supporters wanted. It increased the amount of silver the government was required to purchase on a recurrent monthly basis to 4.5 million ounces. The Sherman Silver Purchase Act had been passed in response to the growing complaints of farmers' and miners' interests. Farmers had immense debts that could not be paid off due to deflation , and they urged

1295-576: Was asked his opinion of the act by President Benjamin Harrison , Sherman ventured only that the bill was "safe" and would cause no harm if the President signed it. The act was enacted in tandem with the McKinley Tariff of 1890. William McKinley , an Ohio Republican and chairman of the House Ways and Means Committee , worked with John Sherman to create a package that could both pass the Senate and receive

1332-459: Was now required to purchase 4.5 million ounces of silver bullion every month. The law required the Treasury to buy the silver with a special issue of Treasury (Coin) Notes that could be redeemed for either silver or gold. The result was the substantial expansion in the volume of circulating dollars without a proportionate growth in the gold stock. The crash in the silver dollar's bullion value in

1369-451: Was thought to be valuable gold mining country. In the late 19th and early 20th centuries, boomtowns called mill towns would quickly arise due to sudden expansions in the timber industry; they tended to last the decade or so it took to clearcut nearby forests. Modern-day examples of resource-generated boomtowns include Fort McMurray in Canada , as the extraction of nearby oilsands requires

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