Why Is Black Friday Called Black Friday?

On the origin of the expression Black Friday, that last Friday of November in which American businesses traditionally lower prices, there is a huge variety of theories. The most widespread, although erroneous, refers to the sale of slaves.

According to the statement, it was a tradition in the United States that the day after Thanksgiving great discounts were made on the sale of slaves. However, it seems that this meaning was not used until a few years after the Civil War (1861-1865). The victory of the states of the North over those of the South guaranteed the freedom of the African-American population.

Thus, the first time it was used was in the year 1869. On September 24 of that year, the Wall Street numbers plummeted. Blame it on two speculators named Jay Gould and James Fisk. It is important to keep in mind that after the civil strife, the country had to make significant economic efforts to rebuild the nation. Do not forget that 617,000 people lost their lives.

Image result for Black Friday deals

In order to get money, the Government chose to issue public debt. In addition, it was decided to put fiat money into circulation, that is, it was not backed by any precious metal. The great businessmen of the time were convinced that the thing would change in the future and that that money, sooner or later, would be adjusted to the gold standard.

This was what caused that in 1969 a group of investors, headed by Gould and Fisk, decided to take all possible debt. They intended to do business with her when the money ceased to be fiduciary. However, the massive purchase ended up causing prices to rise and end up having a shortage. This forced the Government, then led by the former General of Secession War Ulysses S. Grant, to launch a new package valued at about 4 million dollars in gold. The speculators also made her.

The give and take continued during the following days until, finally, on September 24 the bubble burst. Many investors lost all their capital that day. However, Gould and Fisk came out virtually unscathed. The last of these ended up being killed just three years later. Here are some more deals https://www.mydeal.com.au/blackfriday.

Discounts

Many years passed, until 1975, before Black Friday became a reference to commercial discounts. The truth is that the big platforms began to realize that, once Thanksgiving happened, people were encouraged to start making Christmas purchases. This is why they started making sales.

“The New York Times ” used the term on November 19, 1975, with the intention of referring to the circulatory problem that originated in New York following the discounts of the day after Thanksgiving. That made it even more popular.

It’s landing in Spain took place in 2010. The American company Apple was the first to implement it. Since then, “Black Friday” has not ceased to gain popularity in the country over the years.


Leave a Reply

Your email address will not be published. Required fields are marked *