Read the excerpt from "as good as gold."

when the news hit the seattle press in july of 1897, gold fever had spread to everyone, and old timers stoked the flames with their stories of uncles who had struck it rich back in the california days of '49. "but california was dry and warm," sam muttered as he readjusted his pack and trudged on through the biting snow of an alaskan february. his brother jake had insisted that an early start would get them to a claim just in time for the spring thaw of those golden creeks.

what does the excerpt show about the historical context of the story?

gold had been discovered previously in seattle.
gold had been mined in north america before.
gold was far less valuable than oil at this time.
gold was more valuable in alaska than california.