Changes

== The founding of the Gulch ==

== The founding of the Gulch ==

Midas Mulligan did not leave his bank penniless. He converted all his holdings into [[gold]] (still lawful for an individual to hold in those days) and bought a vast tract of land in a secluded valley in the [[Rocky Mountains]]. Incredibly, the valley was never listed on any map. The original owners were cattle ranchers who each owned a section of it, and none of whom could see the whole. The floor of this valley was at an elevation of 8000 feet above sea level and was probably in a cup-like formation in either [[Colorado]] or [[Wyoming]]; the novel never makes clear where.

Midas Mulligan did not leave his bank penniless. He converted all his holdings into [[gold]] (how he obtained it, the novel never reveals) and bought a vast tract of land in a secluded valley in the [[Rocky Mountains]]. Incredibly, the valley was never listed on any map. The original owners were cattle ranchers who each owned a section of it, and none of whom could see the whole. The floor of this valley was at an elevation of 8000 feet above sea level and was probably in a cup-like formation in [[Colorado]].

Mulligan cut off all means of access to the valley except for one road, which he camouflaged. Then he built a small house and a large stockpile of seed, livestock, and other provisions. As he later explained, he wanted "never again to look in the face of a looter." He contracted with John Galt to build him a powerhouse based on his electrostatic motor, the first practical use that Galt's signature invention ever found.

Mulligan cut off all means of access to the valley except for one road, which he camouflaged. Then he built a small house and a large stockpile of seed, livestock, and other provisions. As he later explained, he wanted "never again to look in the face of a looter."

When John Galt informed him that Judge Narragansett had joined the strike, Mulligan offered the judge a leasehold so that he could build a house of his own. Shortly thereafter, Mulligan and Narragansett offered the same invitation to Richard Halley.

When John Galt informed him that Judge Narragansett had joined the strike, Mulligan offered the judge a leasehold so that he could build a house of his own. Shortly thereafter, Mulligan and Narragansett offered the same invitation to Richard Halley. Why Mulligan did this, the novel also never explains. However, Mulligan did have a selective art collection, and probably reasoned that the best way that he could enjoy the best music that anyone could write at the time was to become a music patron.

William Hastings lived out his life on the "outside" and later died of [[heart]] disease. For a long time, no one but Mulligan, Narragansett, and Halley lived in the valley full-time. Each man raised a different sort of crop for mutual trade. Mulligan grew tobacco (which he later would package in his own brand of cigarettes, with a dollar sign as its logo). Narragansett raised chickens and dairy cows. Richard Halley planted fruit orchards. Yet as the strike movement grew, the other strikers would repair to the valley every year in June. Each man built his own house, if only for the one month out of twelve that he could spend in the valley.

William Hastings lived out his life on the "outside" and died of [[heart]] disease in the seventh year of the strike. For a long time, no one but Mulligan, Narragansett, and Halley lived in the valley full-time. Each man raised a different sort of crop for mutual trade. Mulligan grew tobacco (which he later would package in his own brand of cigarettes, with a dollar sign as its logo). Narragansett raised chickens and dairy cows. Richard Halley planted fruit orchards and managed them when he wasn't writing new music. Yet as the strike movement grew, the other strikers would repair to the valley every year in June. Each man built his own house, if only for the one month out of twelve that he could spend in the valley. (Each striker also had the opportunity to buy the best cigarettes made in the world and to hear the best music anyone was writing—for a price, of course.)

Exactly when Mulligan asked Galt to enlarge his powerhouse—as he surely must have done—is not clear. That event would set the stage for a fundamental transformation. Galt built a very large motor and used it to drive a bank of [[dynamo]]s to generate electricity. John Galt took great pains to keep his invention secret: even though he never expected that anyone would ever set foot in the valley who was not a part of his strike (an expectation that would prove moot later on), he kept his invention, and the power installation, locked down. He erected a blockhouse of [[granite]], about half the size of a railroad freight car, and installed a special [[sound]] [[lock]] in the one and only door. This door would open only when someone repeated, slowly and with an inflection that would indicate understanding and wholehearted belief, the Oath of the Strike that John Galt had written. He carved this oath on the transom over the front door. It read thus:{{cquote|I swear, by my life and my love of it, that I will never live for the sake of another man, nor ask another man to live for mine.}}

Exactly when Mulligan asked Galt to build a powerhouse—for which Galt would receive a handsome royalty—is not clear. That event would set the stage for a fundamental transformation. Galt built a very large motor and used it to drive a bank of [[dynamo]]s to generate electricity. John Galt took great pains to keep his invention secret: even though he never expected that anyone would ever set foot in the valley who was not a part of his strike (an expectation that would prove moot later on), he kept his invention, and the power installation, locked down. He erected a blockhouse of [[granite]], about half the size of a railroad freight car, and installed a special [[sound]] [[lock]] in the one and only door. This door would open only when someone repeated, slowly and with an inflection that would indicate understanding and wholehearted belief, the Oath of the Strike that John Galt had written. He carved this oath on the transom over the front door. It read thus:{{cquote|I swear, by my life and my love of it, that I will never live for the sake of another man, nor ask another man to live for mine.}}

Now the valley had a basis for trade: John Galt had become a provider of electric power, and Midas Mulligan was in essence a feudal landlord—and furthermore, Mulligan's land holding was remarkably resource-rich. Francisco d'Anconia determined this by assaying the rocks in the mountains that ringed the valley. Soon, Francisco had begun driving a mine into the mountain. What Francisco could do, perhaps others could do—as soon as John Galt could recruit them.

Now the valley had a basis for trade: John Galt had become a provider of electric power, and Midas Mulligan was in essence a feudal landlord—and furthermore, Mulligan's land holding was remarkably resource-rich. Francisco d'Anconia had determined this in the first year after Mulligan established himself in the valley. He assayed the rocks in the mountains that ringed the valley, and then drove a mine into the mountain. What Francisco could do, perhaps others could do—as soon as John Galt could recruit them.

Any economy needs a bank, and Midas Mulligan could provide one. He re-established the Mulligan Bank as a bank that dealt exclusively in [[gold]] and [[silver]]. Ragnar Danneskjold then announced his plan to bring the proceeds from the sale of seized government "relief cargoes" to the valley and distribute these in various accounts that he opened in the Mulligan Bank, in the names of the existing strikers and also in several names in a long list of prospects that John Galt and Francisco d'Anconia drew up and maintained. Ragnar proposed to refund all [[income tax]]es collected from these people since John Galt's initial defiant announcement to Gerald Starnes, Jr. If the [[Atlas Shrugged#Time setting|beginning of the strike]] was in the year 1917, as seems likely, then the income tax would have existed for four years.

Any economy needs a bank, and Midas Mulligan could provide one. He re-established the Mulligan Bank as a bank that dealt exclusively in [[gold]] and [[silver]]. Ragnar Danneskjold then announced his plan to bring the proceeds from the sale of seized government "relief cargoes" to the valley and distribute these in various accounts that he opened in the Mulligan Bank, in the names of the existing strikers and also in several names in a long list of prospects that John Galt and Francisco d'Anconia drew up and maintained. Ragnar proposed to refund all [[income tax]]es collected from these people since John Galt's initial defiant announcement to Gerald Starnes, Jr. If the [[Atlas Shrugged#Time setting|beginning of the strike]] was in the year 1945, as seems likely, then the income tax would have existed for many years.

As a result of these activities, the valley not only had resources available for anyone having the knowledge to exploit them, but also capital available to lend to support this activity.

As a result of these activities, the valley not only had resources available for anyone having the knowledge to exploit them, but also capital available to lend to support this activity.