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Black Friday Gold Prices, 1869
Library Of Congress
Photograph - Photograph
Black Friday gold prices. Also known as the Fisk-Gould scandal, this crisis took place at the New York Gold Exchange on 24 September 1869. Speculators, including James Fisk and Jay Gould, tried to drive gold prices up by buying large amounts of gold and hoarding it. When the government sold large amounts of gold, the price crashed, leaving many investors ruined. This is a photograph of the Exchange's blackboard, showing the collapse of the price of gold. The handwritten caption by future US President James A. Garfield, indicates this photograph was used as evidence before Garfield's 1870 Congressional Committee into the crisis.
May 11th, 2013
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