Black Friday

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Black Friday

Black Friday Sept. 24, 1869, in U.S. history, day of financial panic. In 1869 a small group of American financial speculators, including Jay Gould and James Fisk , sought the support of federal officials of the Grant administration in a drive to corner the gold market. The attempt failed when government gold was released for sale. The drive culminated on a Friday, when thousands were ruined—the day is popularly called Black Friday. There was great indignation against the perpetrators. Several other days of financial panic have also been occasionally referred to as Black Friday.

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Black Friday

World Encyclopedia | 2005 | Â© World Encyclopedia 2005, originally published by Oxford University Press 2005. (Hide copyright information) Copyright

Black Friday (September 24, 1869) Day of financial panic in the USA. Financiers Jay Gould and James Fisk attempted to corner the gold market and drove the price of gold up. The price fell after the US government sold part of its gold reserve, and many speculators were ruined.

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