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The panic, which became known as Black Friday, was the result of a conspiracy between two investors, Jay Gould, later joined by his partner James Fisk, and Abel Corbin, a small time speculator who had married Virginia (Jennie) Grant, the younger sister of President Ulysses S. Grant.
The first scandal to tar the Grant administration was Black Friday, also known as the Gold Panic, that took place in September 1869, when two aggressive private financiers attempted to corner the gold market in the New York City Gold Room, with blatant disregard to the nation's economic welfare. The scandal involved Treasury Department policy ...
Though Fisk was admired by the working class of New York and the Erie Railroad, he achieved much ill-fame for his role in Black Friday in 1869, where he and his partner Jay Gould befriended the unsuspecting President Ulysses S. Grant in an attempt to use the President's good name in a scheme to corner the gold market in New York City. On ...
The plan was to keep the Government from selling gold, thus driving its price. Grant and Secretary of Treasury George S. Boutwell found out about the gold market speculation and ordered the sale of $4 million in gold on (Black) Friday, September 23. Gould and Fisk were thwarted, and the price of gold dropped.
The original "Black Friday" was almost certainly not considered a holiday. According to the History Channel, ... Jay Gould and Jim Fisk — saw the market plummet 20 percent in a single day.
Black Friday (1869), the Fisk-Gould Scandal (24 September), a financial crisis in the United States. Black Friday (1881) , the Eyemouth disaster (14 October), in which 189 fishermen died. Haymarket affair (11 November 1887), four Chicago anarchists hanged, without evidence, for the deaths of seven police officers during a labor meeting.
Democratic Rep. Jim McGovern ruled 'out of order' for listing the charges against Donald Trump and his legal cases after Republicans objected.
In September 1869, Fisk and Gould with an accomplice engaged in major manipulation of the gold market, triggering the Black Friday panic of 1869. After Fisk was murdered in 1872, Gould eventually gained the advantage in the conflict, but he had to relinquish control in 1872–73, following his loss of $1 million worth of Erie Railroad stock to ...