Black Friday gold panic of 1869

E127540

The Black Friday gold panic of 1869 was a financial crisis in the United States triggered by a failed attempt by speculators to corner the gold market, causing a market crash and widespread economic turmoil.

All labels observed (4)

How this entity was disambiguated

Statements (48)

Predicate Object
instanceOf economic panic
financial crisis
historical event
market crash
counteredBy President Grant’s decision to order the sale of government gold
U.S. Treasury gold sale
country United States of America
surface form: United States
documentedIn 19th-century American newspapers
historical studies of U.S. financial panics
followedBy congressional investigations into corruption and speculation
hasAlternativeName Black Friday
Black Friday gold panic of 1869
surface form: Gold Panic of 1869
hasBackground debate over gold versus greenback currency
post–Civil War Reconstruction era
hasCause attempt to corner the gold market
speculative bubble in gold prices
hasConsequence damage to the Grant administration’s reputation
public distrust of Wall Street speculators
hasEffect business failures
financial losses for investors and farmers
stock market crash
sudden collapse in gold prices
widespread economic turmoil
hasParticipantRole Abel Corbin acted as an intermediary to the Grant administration
James Fisk Jr.
surface form: James Fisk was a leading speculator

Jay Gould
surface form: Jay Gould was a leading speculator

Ulysses S. Grant was President of the United States
immediateCauseOf panic among brokers and traders
sharp fall in gold price on September 24, 1869
involves Abel Corbin
James Fisk Jr.
surface form: James Fisk

Jay Gould
New York financiers
Ulysses S. Grant
United States Department of the Treasury
surface form: United States Treasury

speculators
location New York City
Wall Street
mainVenue New York Gold Exchange
partOf history of financial crises in the United States
history of the New York Stock Exchange
pointInTime September 24, 1869
relatedTo Reconstruction-era economic policy
U.S. monetary policy after the Civil War
speculation in commodities
timePeriod 19th century
triggeredBy restriction of gold sales in the open market by speculators
speculators buying large quantities of gold

How these facts were elicited

Referenced by (4)

Full triples — surface form annotated when it differs from this entity's canonical label.

Jay Gould notableEvent Black Friday gold panic of 1869
James Fisk Jr. notableEvent Black Friday gold panic of 1869
this entity surface form: Black Friday financial panic of 1869
Gould associatedWithEvent Black Friday gold panic of 1869
subject surface form: Jay Gould
this entity surface form: Black Friday (1869) gold panic
Black Friday gold panic of 1869 hasAlternativeName Black Friday gold panic of 1869
this entity surface form: Gold Panic of 1869