The Project Gutenberg ebook of History of the United States, Volume 4, by

Telephone, from New York to Chicago.

358 THE CEMENTED UNION [1869

The New York Gold Room on "Black Friday," September 24, 1869.

1877] THE MARCH OF INDUSTRY 359
At the last call it stood at 144; at the first on Friday, September 24th, 105 was the figure. The ring was believed at this time to hold in gold and in contracts to deliver the same, over $100,000,000, while all the gold in New York outside the United States Sub-Treasury was hardly over $10,000,000. Only the Government could break the corner. At eleven o'clock gold was at 155, whence in half an hour it rose to 160, then to 162, then to 164. In the midst of an excitement never paralleled in the Gold Room before or since, it was announced on authority that the Govern­ment would sell. The price at once went down to 135, and the power of the clique was instantly broken. This day passed into history under the name of "Black Friday."

The Chicago fire of October, 1871, was the most disastrous yet in the chronicles of our country. It began in the evening of October 8th and raged for over twenty-four hours. According to the best estimates 250 lives were lost, 98,500 persons made homeless, 17,500 buildings consumed, and $192,000,000 worth of property destroyed. The main business portion of the city was included in the tract burned. Thirteen months later the most destructive conflagration that had ever visited Boston swept the district below Washington Street from Summer nearly to State, and eastward to the water's edge, being the most solid business portion of the city. The loss was placed at $75,000,000.

A Scene during the Chicago Fire.