Jay Gould

From: Min Wei Yinghui Zhang

Jay Gould•1836 -- 1892• He was born in New York.• He was an American financier who became a leading American railroad developer.• He died at the age of 57, leaving $ 77 million in his lifetime.

How did Jay Gould make his money?•Railroad Age of 18, he had become a land surveyor in New York, earning $ 5000 in this process. Railroad traveled on his lands, government needed to pay money. Between 1885 and 1889, Jay Gould gained control of the Wabash ,the Texas and Pacific Railroad. He created the Manhattan Elevated Railroad of New York.

•Telegraph system

•Gold market

He created the Western Union Telegraph Company. He had bought the American Union Telegraph Company in 1879, and joined it with Western Union in 1881. He controlled the telegraph network of Baltimore and Ohio Railroad. Jay Gould corner the gold market .

He controlled of government policy.•Black Friday in August 1869, Jay Gould corner the gold market. He bought the gold with low price and sold it in pretty high price. On September 24, 1869, the price of gold fell a lot because him. That’s the famous Black Friday.

What did he do with his money?

• Jay Gould bought the Union Pacific and other smaller lines in the Southwest, he controlled about one- ninth of the railway mileage of the United States.• In 1882, he sold his interest in the Union Pacific. He turned his financial talents toward the Missouri Pacific Railroad. He bought the stock of The Missouri Pacific. • Jay Gould used his money to develop

the Western Union Telegraph Company, newspapers, and elevated trains in New York City.

Jay Gould appeared to treat their workers well. He was worth a lot of money because of his business skills.

How did Jay Gould treat his workers?

House!