The Gold Ring
Download or Read eBook The Gold Ring PDF written by Kenneth D. Ackerman and published by Viral History Press LLC. This book was released on 2011-11 with total page 300 pages. Available in PDF, EPUB and Kindle.
| Author | : Kenneth D. Ackerman |
| Publisher | : Viral History Press LLC |
| Total Pages | : 300 |
| Release | : 2011-11 |
| ISBN-10 | : 1619450054 |
| ISBN-13 | : 9781619450059 |
| Rating | : 4/5 (54 Downloads) |
Book Synopsis The Gold Ring by : Kenneth D. Ackerman
Book excerpt: In September 1869, two young speculators, Jay Gould and Jim Fisk, Jr., undertook perhaps the most audacious financial operation in American history - the cornering of the national gold supply. Fisk and Gould manipulated prices to the point that legitimate commerce froze to a halt. When the federal Treasury finally broke the corner on Black Friday, September 24, the price of $100 gold coin fell from $160 to $130 in fifteen minutes, sparking a national financial panic, a stock market depression, and the bankruptcy of major trading houses. The scandal reached the very household of President Ulysses Grant, and only the intervention of their friend, Boss Tweed of Tammany Hall, saved Fisk and Gould from personal ruin.
