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Today in History: Gould and Fisk Fail Gold Scheme, Prices Crash
By Drooid · · How we work
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Story summary
- On September 24 1869, Jay Gould, James Fisk and associate Abel Corbin attempted to corner the U.S. gold market through the New York Gold Exchange. Their “Gold Ring” drove prices skyward until Treasury gold sales flooded the market, triggering a sudden crash and a nationwide financial panic known as Black Friday.