The California gold rush (1848–1855) was a gold rush in California, which began on January 24, 1848, when gold was found by James W. Marshall at Sutter's Mill in Coloma, California. The news of gold brought approximately 300,000 people from the rest of the United States and abroad to California, which had recently been conquered from Mexico. The sudden influx of gold into the money supply reinvigorated the American economy; the sudden population increase allowed California to grow rapidly into statehood in the Compromise of 1850.