Black Friday gold panic of 1869
E127540
The Black Friday gold panic of 1869 was a financial crisis in the United States triggered by a failed attempt by speculators to corner the gold market, causing a market crash and widespread economic turmoil.
All labels observed (4)
| Label | Occurrences |
|---|---|
| Black Friday (1869) gold panic | 1 |
| Black Friday financial panic of 1869 | 1 |
| Black Friday gold panic of 1869 canonical | 1 |
| Gold Panic of 1869 | 1 |
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
economic panic
ⓘ
financial crisis ⓘ historical event ⓘ market crash ⓘ |
| counteredBy |
President Grant’s decision to order the sale of government gold
ⓘ
U.S. Treasury gold sale ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| documentedIn |
19th-century American newspapers
ⓘ
historical studies of U.S. financial panics ⓘ |
| followedBy | congressional investigations into corruption and speculation ⓘ |
| hasAlternativeName |
Black Friday
ⓘ
Black Friday gold panic of 1869 ⓘ
surface form:
Gold Panic of 1869
|
| hasBackground |
debate over gold versus greenback currency
ⓘ
post–Civil War Reconstruction era ⓘ |
| hasCause |
attempt to corner the gold market
ⓘ
speculative bubble in gold prices ⓘ |
| hasConsequence |
damage to the Grant administration’s reputation
ⓘ
public distrust of Wall Street speculators ⓘ |
| hasEffect |
business failures
ⓘ
financial losses for investors and farmers ⓘ stock market crash ⓘ sudden collapse in gold prices ⓘ widespread economic turmoil ⓘ |
| hasParticipantRole |
Abel Corbin acted as an intermediary to the Grant administration
ⓘ
James Fisk Jr. ⓘ
surface form:
James Fisk was a leading speculator
Jay Gould ⓘ
surface form:
Jay Gould was a leading speculator
Ulysses S. Grant was President of the United States ⓘ |
| immediateCauseOf |
panic among brokers and traders
ⓘ
sharp fall in gold price on September 24, 1869 ⓘ |
| involves |
Abel Corbin
ⓘ
James Fisk Jr. ⓘ
surface form:
James Fisk
Jay Gould ⓘ New York financiers ⓘ Ulysses S. Grant ⓘ United States Department of the Treasury ⓘ
surface form:
United States Treasury
speculators ⓘ |
| location |
New York City
ⓘ
Wall Street ⓘ |
| mainVenue | New York Gold Exchange ⓘ |
| partOf |
history of financial crises in the United States
ⓘ
history of the New York Stock Exchange ⓘ |
| pointInTime | September 24, 1869 ⓘ |
| relatedTo |
Reconstruction-era economic policy
ⓘ
U.S. monetary policy after the Civil War ⓘ speculation in commodities ⓘ |
| timePeriod | 19th century ⓘ |
| triggeredBy |
restriction of gold sales in the open market by speculators
ⓘ
speculators buying large quantities of gold ⓘ |
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: Black Friday gold panic of 1869 Description of subject: The Black Friday gold panic of 1869 was a financial crisis in the United States triggered by a failed attempt by speculators to corner the gold market, causing a market crash and widespread economic turmoil.
Referenced by (4)
Full triples — surface form annotated when it differs from this entity's canonical label.
this entity surface form:
Black Friday financial panic of 1869
subject surface form:
Jay Gould
this entity surface form:
Black Friday (1869) gold panic
this entity surface form:
Gold Panic of 1869