If you’d been lucky enough to live in Portland in July of 1848, you would have been able to say, literally, that your ship had come in.

The ship in question was the sailing ship Honolulu. And, funny thing: she arrived in port in ballast, with her cargo holds empty.

That raised some eyebrows. At the time, Oregon was not even part of the U.S.A. yet — just a vast extranational territory jointly claimed by the U.S. and Britain. There was no national government authority to issue money, nor was there any gold or silver around to make money with. Wheat was officially legal tender there; but, there wasn’t much wheat being harvested in July. All of Oregon was on a barter economy. Down in Oregon City, Provisional Governor George Abernethy was actually using specially marked pebbles, known as “Abernethy Rocks,” as fungible I.O.U.s in the Methodist mission merchantile store that he was in charge of.

Presumably the captain of the Honolulu would not be interested in investing in Abernethy Rocks. So, what was he going to do in Portland with nothing to trade with?

The answer wasn’t long in coming. The skipper headed straight into town almost the moment the Honolulu was at the dock. He raced from one store to another, snapping up every pick, shovel, and washpan he could get his hands on.

And paying for them with gold dust. (Statewide; 1840s) (For text and pictures, see https://offbeatoregon.com/23-02.gold-rush-beaver-money.html)