Friday, April 14, 2006

History of Wall Street and the Stock Markets

AtoZ Investments gets the Link of the Week for its 4-page history of Wall Street. Very interesting!

History of Wall Street and the Stock Markets:
"It was just a matter of time before our new country, The United States of America, would organize formal stock and bond trading. 1792 was the year. In 1792, New York City's population was about 34,000, not including Brooklyn and Queens which were still separate towns. Much of Manhattan had just been rebuilt with brick buildings after the devastating Great Fire of 1776.

Wall Street was New York's center of commerce. Just a few blocks long, from Broadway on the west to the East River at the other end, Wall Street was not yet paved or even lined with cobblestones. There were warehouses for furs, coffee and tea, and other goods from all over the world. To the south, streets were crowded with slaughter houses and tanneries."

"The first organized stock exchange was created in 1792, when under a buttonwood tree in Castle Garden (now called Battery Park), John Sutton, Benjamin Jay, and 22 other financial leaders signed an agreement of rules, regulations and fees."
Read MUCH more about the history on their page!

No comments: