Black Friday is called that because it is the day retailers go “in the black” in the profit column, right? Well, actually the first recorded use of the term “Black Friday” was applied to a financial crisis on September 24, 1869. The crash of the U.S. gold market caused by two notoriously ruthless Wall Street financiers, Jay Gould and Jim Fisk, who worked together to buy up as much gold as they could hoping to drive the price sky-high and sell it for astonishing profits. On that Friday, the conspiracy unraveled, sending the stock market into free-fall and bankrupting everyone from Wall Street barons to farmers.
While there are many rumored stories of Black Friday, the one that took root in retail and evolved into a more positive event involves the city of Philadelphia and the big Army-Navy football game. You can read all about this game, and how it came to be here.