Black Friday (1869) - Wikiwand
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The Black Friday gold panic of September 24, 1869 was caused by a conspiracy between two investors, Jay Gould and his partner James Fisk, and Abel Corbin, a small time speculator who had married Virginia Grant, the younger sister of President Ulysses Grant. They formed the Gold Ring to corner the gold market and force up the price of metal on the New York Gold Exchange. The scandal took place during the Presidency of Ulysses S. Grant, whose policy was to sell Treasury gold at weekly intervals to pay off the national debt, stabilize the dollar, and boost the economy. The country had gone through tremendous upheaval during the Civil War and was not yet fully restored.
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Black Friday, 1869. /N'The New York Stock Exchange Board In Session, 25 September 1869' - The Day After The Original 'Black Friday' Gold Panic On Wall Street. Wood Engraving From A/Ncontemporary American
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