Helena was initially founded in the downtown section . On July 14 , 1864 four miners , dubbed the " Four Georgians " ( though only one was from Georgia ) , discovered gold in a creekbed along what today is Helena 's downtown main street , Last Chance Gulch . This sparked a cultural and building boom that lasted 30 years and Helena became the state capital . The city grew from south to north along Last Chance Gulch , its main street , and hence the evolution of architectural styles can be traced . At the southern end the road is narrow with small log and stone buildings and at the northern end the road is wider and has large stonework homes . Few major downtown buildings were built in the years immediately after the Panic of 1893 , which among other problems , caused the closing of the local silver mines . This resulted in downtown Helena having a sharp division in its older and newer sections . Most of the newer buildings were small , had a single function , and had a false front . At the time of the initial 1972 NRHP nomination , some of the significant buildings that still stood from that early time were : the Electric and Power Blocks , Helena Athletic Association , Auerbach Buildings , Merchants Hotel ( later Monticello Apartments ) , Atlas Block , Diamond Block , the Wheat Building ( Merchants National Bank Building ) and the Lewis and Clark County Courthouse . A major fire in 1928 affected the area , destroying many original buildings , including the Granite , Bailey , Gold , and New York Store blocks . Additional buildings in the downtown section were damaged or destroyed in the 1935 Helena earthquake
1935 Helena earthquake
1935 Helena earthquake
Helena Historic District (Helena, Montana)