Many people don’t really know the history of “Black Friday”. Everyone sees the adjective “black Friday” as days upon which calamities occurred.
Whenever awful things happen on Friday, people will horridly tag that particular day as “Black Friday”, We understand that the most significant of such event in American History actually happened in 1869, that was when financiers Jay Gould and James Fisk caused havoc in the gold market.
It was said that when President Grant discovered that there was a manipulation in the gold market, he gave an order that gold should be released in large quantity.
The presidential order made the price of gold to drop by eighteen percent.
The situation affected many people both positively and negatively that even the President’s brother-in-law, Abel Corbin, was ruined as a result of it.