Tag Archives: black friday 1869

This Day in the Yesteryear: BLACK FRIDAY (1869)


 

Black Friday (1869)

In 1869, American financial speculators Jay Gould and James Fisk attempted to corner the gold market by trying to prevent the sale of government gold, which they hoped to achieve by influencing President Ulysses Grant. The plan backfired when Grant discovered the plot and released $4 million of government gold for sale. On a day that came to be known as Black Friday, the price of gold plummeted, panic ensued, and thousands were ruined—though not Gould or Fisk. How did they gain access to Grant?More… Discuss