Manly Junction, Iowa.
Please give a brief sketch of Senator Sharon.
A Subscriber.
Answer.—William Sharon was born in Smithfield, Ohio, Jan. 9, 1821. After preparing himself for admission to the legal profession he decided to enter the banking business, and upon his removal to Nevada became interested in mining operations. He is at present a trustee of the Bank of California, and has great influence in the business of the Pacific slope. He was United States Senator from Nevada for the term 1875-81.
THREE BLACK FRIDAYS.
Odessa, Neb.
What was “Black Friday,” and what part did ex-President Grant take in it?
Ed. S. Jelley.
Answer.—September 24, 1869, Jay Gould and James Fisk, Jr., attempted to create a corner in the gold market by buying all the gold in the banks of New York City, amounting to $15,000,000. For several days the value of gold rose steadily, and the speculators aimed to carry it from 144 to 200. Friday the whole city was in a ferment, the banks were rapidly selling, gold was at 162½ and still rising. Men became insane and everywhere the wildest excitement raged, for it seemed probable that the business 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. There is no good evidence that President Grant had any connection with the sales. The fact that his brother-in-law was interested in Wall street operations at that time led to the charge against Grant by his enemies. The day noticed above is what is generally referred to as Black Friday in this country, but the term was first used in England, being applied in the first instance to the Friday on which the news reached London 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, Guerney & Co., London, the day before, was followed by a widespread financial ruin.