Did You Know That Philly Coined the Term “Black Friday”?
Did you know Philadelphia coined the term "Black Friday? The phrase is much deeper than just shopping. It goes all the way back to the 1950s.
So most us know Black Friday as the crazy day after Thanksgiving where people go nuts over deals and bargains at their favorite stores. Lines wrap around buildings twice, fights break out and the people get ruthless. Most people think the term Black Friday comes from the fact that it is a dark day that brings the dark side out of people.
However, back in the 1950s, Philadelphia police used the term as a way to describe the day between Thanksgiving and the highly anticipated Army-Navy game. Every single cop in the city had to work extra long hours to cover all the huge crowds and traffic.
Then, according to Business Insider, the term "Black Friday" was first used on Sept. 24, 1869, when two investors, Jay Gould and Jim Fisk, drove up the price of gold and caused a crash that day. As a result of this, the stock market dropped 20% and foreign trade stopped. According to Business Insiders, farmers suffered a 50% dip in wheat and corn harvest value.