On this day in 1869, thousands of businessmen were financially ruined after a panic on Wall Street.

This day in 1869 is popularly referred to as Black Friday—a dark financial day in which a small group of businessmen tried to control the gold market by selling gold for a much higher price than it was worth. The men connived to hike the price of gold more than $20 per share in just a day. When the government released more than $4 million worth of gold on the market, the price dropped dramatically.

Within 15 minutes, the price of gold had dropped from $162 per share to $133. Thousands of investors were ruined. Fortunes were lost. Many Wall Street businesses were ruined. The nation’s business community was paralyzed. That’s what happens in a panic. One action sets in motion another action—and soon thousands of people are unable to do anything.

When have you panicked? Maybe it was the night before a big test. You have studied as much as you can when panic sets in. You begin to worry you won’t remember what you have studied. You are so worried that you can’t sleep, and you start worrying about not being able to sleep and how that will affect your test-taking . . . you can see what happens when panic hits.

How can you stop from panicking? Well, first take a deep breath. Then (you know what’s coming next), pray! That’s what Daniel did when faced with the impossible task of not only interpreting the king’s dream but also telling the king what his dream was! (Read about it in Daniel 2.) Daniel could have panicked. He could have run around wringing his hands and crying, “Oh no! What am I going to do?” Instead, Daniel enlisted the help of his friends and asked them to pray!

There’s no need to panic when God is on your side. Prayer beats panic any day.

But I keep right on praying to you, Lord, hoping this is the time you will show me favor. In your unfailing love, O God, answer my prayer with your sure salvation (Psalm 69:13).

To Do

Read Daniel 2. Look for all the ways that Daniel beat a possible panic attack.

Also on this day

1664—New Jersey, named after the Isle of Jersey, was founded.

1947—Kenneth Arnold reported seeing flying saucers over Mt. Rainier, Washington.

From Betsy Schmitt and Dave Veerman, 365 Trivia Twist Devotions: An Almanac of Fun Facts and Spiritual Truth for Every Day of the Year (Cincinnati: Standard, 2005). Scripture quotations are from the New Living Translation unless otherwise noted.