Abel Corbin

Abel Corbin was a newspaper editor and businessman who was also married to the sister of Ulysses S Grant. Corbin was invaluable to Jay Gould and James Fix in their attempt at cornering the gold market back in 1869. His relationship with the President allowed them to try to influence the government to not release more gold from the reserve and also to get advanced warning of when more gold would be released.

Corbin’s mistake was not realizing that being a pawn in a game of chess might be exciting but you are expendable in order to protect the bigger pieces. He invested with Gould and Fix but when they realized their plan was failing they were willing to let Corbin (and many others) fall on the sword.

Thinking you are indispensable, when others think otherwise, can prove to be very costly.

For those of you who are not familiar with the story of Black Friday from 1869 it’s a fascinating topic and much has been written about that and the various business dealings of Jay Gould.

Have a great day