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One of the greatest developments in banking took place during the early 19th century when the Bank of England decided to "set up an international gold standard to bring order and stability to the international economy." Soon, countries that adhered to this new banking system began to feel the restraints of limited capital (Chilkoot Trail, 50). The 1880s and 1890s brought about series of "bank failures, a depression and currency devaluations." Gold became even more important and its discovery in the Northern part of Canada soon placed the Klondike on the World map.

Before the discovery of gold in the Klondike Region, the Yukon was a district within the Northwest Territories with Regina as its capital and "its boundaries the source of an ongoing dispute with the United States."

With the discovery of gold in 1896, a rapid advance in the development of the Yukon soon took place, leading to the establishment of the Dawson and Klondike Townsites. The surveying of the Klondike Townsite will not be conducted until 1901, a few years after the rush had completely subsided.

Sources: Klondike Gold Rush, The Klondike Gold Rush, Chilkoot Trail: Heritage Route to the Klondike.