It's hard to imagine now, but in 1849 about 4,000 miners staked out every gully and hillside in Placerville, turning the town into a rip-roaring camp of log cabins, tents, and clapboard houses. The area was then known as Hangtown, a graphic allusion to the nature of frontier justice. It took on the name Placerville in 1854 and became an important supply center for the miners. ("Placer" is defined roughly as valuable minerals found in riverbeds or lakes.) Mark Hopkins, Philip Armour, and John Studebaker were among the industrialists who got their starts here.