Black Friday

Collier's New Encyclopedia (1921)

the Friday, Sept. 24, 1869, when the attempt of Jay Gould and James Fisk, Jr., to create a corner gold in the gold market by buying all the amountin the banks of New York City, ing to $15,000,000, culminated. For had risen several days the value of gold to steadily, and the speculators aimed Friday the carry it from 144 to 200. the banks whole city was in a ferment, nt, 1622, were rapidly selling, gold was at and still rising. Men became insane, and everywhere the wildest excitement raged, houses must be closed, from ignorance of the prices to be charged for their goods. But in the midst of the panic it was reported that Secretary Boutwell of the United States Treasury had thrown $4,000,000 on the market, and at once gold fell, the excitement ceased, leaving Gould and Fisk the winners of $11,- 000,000. The term was first used in England, being applied in the first instance to the Friday on which the news reached London, Dec. 6, 1745, that the young Pretender, Charles Edward, had arrived at Derby, creating a terrible panic; and finally to May 11, 1866, when the failure of Overend, Gurney & Co., London, the day before, was followed by a widespread financial ruin. BLACK GUM (nyssa multiflora, order cornacea), an American tree, yielding a close-grained, useful wood; fruit a drupe of blue black color, whence it seems to get its name of black: it has about it. It is called also pepperidge, and has been introduced into Europe as an ornamental tree.