What scheme did Gould and Fisk devise in 1869?

Gould and Fisk devised a scheme in 1869 to manipulate the price of gold, which was a significant issue in the financial markets at that time. Their plan involved buying large amounts of gold to drive up its price, while simultaneously trying to sell it at a profit. This was orchestrated in the backdrop of the post-Civil War economy, where the gold market was critical for financial stability.

Their actions created a speculative bubble that led to a dramatic increase in the price of gold, resulting in widespread market chaos when their scheme eventually unraveled. The culmination of their manipulation was the infamous "Black Friday" on September 24, 1869, leading to a financial crisis. This event highlighted the vulnerabilities of the financial system and reflected the broader issues of corruption and market manipulation during the Gilded Age, underscoring the extent to which unethical leaders could influence economic conditions for personal gain.