Jay Gould’s reputation in history was shaped on September 24, 1869, one of several “Black Fridays” in American financial history, this one a day when the price of gold dropped over 20 percent from $169 to $135 an ounce. Gould, president of the Erie Railroad, and his partner, Jim Fisk, had begun buying gold in August of that year in an attempt, it was said, to corner the gold market. When the price fell, Jay Gould took much of the blame.