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Transcript of Jay Gould
Mallyboo, Myles, and Anthony
Jay Gould Is a Robber Baron
Union Pacific Railroad
Was caused by Jay's attempt to corner the gold market
The New York Gold Exchange
An exchange that created an open market for transactions between gold and the recently created government greenbacks. (paper money)
Black Friday was one of the many scandals that rocked the Presidency of Ulysses S. Grant
More Effects Of Black Friday
Jay Gould was born in Roxbury New York in 1836
Lived on his fathers farm
Attended Hobart Academy
Left school early to study
mathematics and surveying
Worked as a surveyor
Married Miss Helen Day Miller for her rich family
Miller's father gave Jay a railway to manage
Was in the business of Lumber and Tanning
Pimped out the railroad he managed
Invested in railroad stocks...
Made More Bank
Named president of Erie railway
Sold 5 mil of fraudulent stock in 2 years
Made more bank
With Jim Fisk
Gould isn't so good!
We want the railroad in better hands!
A Robber baron is a an American Capitalist who acquired fortune in the late 19th century by ruthless means
So what makes him a Robber Baron exactly?
With the help of other investors he crashed the gold market
The public was furious and many industrialists were hit hard
Jay was able to acquire the Union Pacific Railway in 1874 by purchasing large amounts of stock.
By 1881, his 15800 miles of railroad track became the largest railroad system in the nation
The Western Union Telegraph Company
Jay weakens and soon takes control of the Western Union Telegraph Company
*Jay Gould makes it rain
Jay was a ruthless man who place money before everything and everyone else in his life. Although he died with and estimated $77 million , he also died alone.
1868 he joined Daniel Drew and Jim Fisk to keep Cornelius Vanderbilt from taking their part of the railroad
Missouri Pacific Railroad
In 1882 Jay pulls out of the Union Pacific Railroad company and begins to build an entirely new system
Jays New Found Wealth
After his success with the Black Friday scandal, Jay found himself holding $25 million to invest.
The men cheated and bribed their way to millions
Worked at his fathers store
"Jay Gould." Jay Gould. N.p., n.d. Web. 17 Oct. 2013.
"Jay Gould (American Financier)." Encyclopedia Britannica Online. Encyclopedia Britannica, n.d. Web. 17 Oct. 2013.
"Jay Gould: Financier in the Age of Robber Barons." Jay Gould: Financier in the Age of Robber Barons. N.p., n.d. Web. 17 Oct. 2013.
Myles..... WHAT HAVE YOU DONE FOR ME LATELY?
HEART MOLLY BOO