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The Buttonwood Agreement – The forerunner to the NYSE

When we think of the current New York Stock Exchange, images come to mind
of the Big Board, ticker tape and incredible amounts of stress. But it
didn’t always use to be that way. There was a time when a group of men met
under a shady tree in the spring to found what would become one of the most
powerful and well known exchanges in the world.

The story of the Buttonwood Agreement actually goes back even further than
1792. Two years earlier, then Secretary of the Treasury Alexander Hamilton
(pre-duel) issued a then staggering amount of $80 million in war bonds to
help pay for the rising costs of the Revolutionary War. It would be these
bonds that would play a key role in the founding of the Buttonwood
Agreement.

A major reason for the founding of the Buttonwood (more…)

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The History of Wall Street

When people in the media, or just people in the know, refer to the
various stock markets in lower Manhattan in New York City, they usually
just refer to Wall Street. The now famous financial district has become
synonymous with large amounts of money, power and influence. But how did
one street manage to evolve into such an important address?

Ironically, most major investment firms that helped to build Wall Street
into the financial force that it is today aren’t even headquartered there
anymore. Thanks to technology advancements, these companies are usually
headquartered in other parts of Manhattan or in neighbouring New Jersey
or Connecticut. One of the most influential companies in Wall Street
history, J.P. Morgan moved from the address that they helped make famous
in late 2001.

The name Wall Street was (more…)