From this article at RIO GRANDE
This story begins during the Gold Rush, in the hub of San Francisco, when craftsman traded in their tools for sifting pans and craved a fortune that was rarely uncovered. When all hope of a golden future was shattered and the tools were dusted off and resharpened, they returned to their roots. The opportunities to earn a wage meant long hours and manual work, but this time it was rewarding. They went back to welding metal and making saddles with skills, passed down through generations, from relatives in Mexico, South America and Europe. New appreciation for materials sourced from Western lands, animals and natural resources led to the rise of ranches and the cowboys who tended them.