This week in 1869: The run-up to Black Friday

American 'robber barons' Jay Gould and Jim Fisk hatched an ambitious plan to corner the gold market.

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Jay Gould and Jim Fisk cornered the gold market

In America from the 1850s strong economic growth and the need for money to finance the construction of railroads led to the rapid growth of Wall Street. In the absence of effective regulation, this was accompanied by rampant speculation, endemic corruption and scandal in many cases even more naked than the examples we see today. Among the most high profile was an attempt by robber barons' Jay Gould and Jim Fisk to corner the gold market in 1869.

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