Fort Valparaíso in August 1814
Valparaíso is a major city and seaport in central Chile. It was founded in 1536 by Spanish settlers travelling to Chile aboard Diego de Almagro's supply ship Santiaguillo, and the settlers' leader Juan de Saavedra named the new settlement after his hometown of Valparaíso de Arriba in Cuenca Province, Spain. It was a small village during the Spanish colonial era, and the first pier was built in 1810. From 1810 to 1830, the city was developed by wealthy businessmen as the coastline receded five miles back into the sea, and, in 1818, Valparaíso became the main harbor for the nascent Chilean Navy. It became a major stopover for ships travelling between the Atlantic and Pacific Oceans via the Straits of Magellan, and, during the 1848 California Gold Rush, it was a magnet for European immigrants from Britain, Germany, France, Switzerland, and Italy, leading to the foundation of German, French, Italian, and English newspapers in the city. The English introduced soccer and Protestantism, to Chile, the French founded the first private Catholic school in Chile, the Scots and Germans founded the first private secular schools, and all of the immigrant groups formed the first volunteer firefighter companies. Valparaíso also became home to Latin America's oldest stock exchange, Chile's first public library, and the oldest Spanish-language newspaper, El Mercurio de Valparaíso. The opening of the Panama Canal in 1914 ended Valparaíso's golden age, and the city declined as port traffic declined. In addition, several wealthy families abandoned the city. During the early 21st century, however, Valparaíso experienced a recovery due to an influx of tourism and gentrification. In 2012, Valparaíso had a population of 284,630 people; its metro area had 930,220 residents.
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