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Was Jay Gould A Robber Baron

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The late 1800s to early 1900s was filled with new opportunities, new technology, thriving business and wealth. But underneath it all lied great amounts of corruption whether it was beknownst or unbeknownst to the public eye. Jay Gould was a cunning business man. Although he was tactical and did benefit the nations railroad system, many including myself viewed him as a true robber baron of the time period, due to his manipulations in stock. jay Gould had experience with a variety of businesses starting at a young age. This made him a savvy fancier. Coming from humble beginnings, Jason or should i say Jay Gould was born into a farming family in Roxbury, New York, on May 27, 1836.He attended a local school and learned basic subjects like the average child but took a fancy to surveying.In his late teens he was first employed as a cartographer. Making maps of counties in New …show more content…

Being so familiar with stocks Gould noticed fluctuation in gold prices and devised a plan. The intricate scheme would allow Gould to essentially control the gold supply in America, which would mean he could influence the entire national economy.Gould's plot could only work if while driving up the prices the federal government chose not to sell gold reserves. To sideline the Treasury Department, Gould was at it again bribing officials in the federal government, including a relative of President Ulysses S. Grant. September 24, 1869, the price of gold began to rise and a panic ensued on Wall Street. By midday Gould's plan unraveled as the federal government began to sell gold on the market, driving down the price. This day is known as Black Friday, no not November 25 when stores offer great deals before Christmas but a much more dismal day for the economy. Although Fish and Gould caused this disruption as well as ruined speculators, by covering up their tracks the two walked away with

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