This Day in History: 29 November 2019
29 November 1975
44 years ago, today, the phrase of 'Black Friday' first appeared in The New York Times, referring to the busiest shopping and traffic day of the year. Many events through centuries have been described with 'black' at the start to describe its misfortunes, but the most significant of these was the Panic of 1869, where Wall Street financiers, Jay Gould and James Fisk, attempted to buy a significant amount of the gold market, and hoped its overall price would soar, and therefore would be able to sell it for a huge profit. President Grant then ordered the Treasury to release a large supply of gold, which caused prices to drop by 18%, causing the gold market to crash and left Wall Street barons bankrupt.
The first mention of 'Black Friday' was seen in the journal, Factory Management and Maintenance, in the early 50s, referring to the practice of workers calling in sick the day after Thanksgiving. This term, as well as 'Black Saturday' also became used by the police in Philadelphia and Rochester to describe the crowds and traffic congestion that came with the start of Christmas.
In the early 80s, the phrase began to gain national attention, but merchants objected against the use of a mocking term to refer to one of the most important shopping days of the year, as this was when retailers finally made their profit during the holiday season, starting on the day after Thanksgiving.
Want to find out more on the history and origin of Black Friday? Visit https://www.telegraph.co.uk/black-friday/2019/11/29/black-friday-name-meaning-history-sales-event/ for more information and to find out more on how it has progressed throughout the world.
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