Talk:Black Friday (1869)
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Found this very interesting, looked this up after reading an article in MENA paper on the black cohosh plant that flowers, which mentioned a lady that made a remedy for female conditions Lidia Pinkham she had to find a way to support her family during the this crash, she made millions by todays standards, looking up the economic crash of 1873 lead me here http://www.revelation13.net/economy.html jabborwock2001@aol.com
The following comment was made in the article by 68.53.82.200. I have moved it here.
- This is a VERY interesting subject; not endowed with the details it deserves. It seems there are many ambiguities and/or lack of information concerning the "Black Friday" phenomenon. I know this isn't exactly a "forum", however I'd like to express my dissatisfaction with this(simplified) explanation. But, as a disclaimer: it seems these days >->history as well as reality is only a perception.
Moved by 12.116.162.162 19:10, 2 November 2006 (UTC)
[edit] Gold price correction
This paragraph was incorrect:
- On September 20, 1869, Gould and Fisk started hoarding gold, driving the price higher. On September 24, the price of an ounce of gold was $30 higher than when Grant took office. But when the government gold hit the market, the price of gold plummetted within minutes. Investors scrambled to sell their holdings, and many of them, including Corbin, were ruined.
I changed it to:
- On September 20, 1869, Gould and Fisk started hoarding gold, driving the price higher. On 24 September the premium on a gold Double Eagle (representing one ounce of gold bullion at $20) was 30 per cent higher than when Grant took office. But when the government gold hit the market, the premium plummetted within minutes. Investors scrambled to sell their holdings, and many of them, including Corbin, were ruined.
I think this is more accurate but needs further research by an expert. --mervyn 15:05, 10 September 2005 (UTC)
