Stock Market History Guide
Today we are going to talk all about stock market history. Early on Boston was the financial center of America. Bonds were bought and sold mostly by Boston dealers. At this time though there was not really an official place to conduct exchanges in the stock market. Then in 1644 there was a wall built by the dutch on Manhattan Island. The dutch originally built this wall for protection against British attacks. The road that this wall was built on is known as Wall Street. Many people know of Wall Street as the world’s financial center. However this was not always so.
The world’s first organized stock market exchange was in Belgium. Schlossgarten, Berlin was the next to organize a place in the 1600’s. The coffee house in 1725 that London brokers started doing business at was called Jonathon’s. In 1773 they changed the name from Jonathon’s to The Stock Exchange. 1792 is when the United States of America created their organized place for stock exchange.
This is where the Wall Street Stock Market comes into play. Wall Street was the center of commerce in New York. It is located east from Broadway to south street on the east river. Later on Wall Street became the name of the surrounding geographic neighborhood. Then In 1789 George Washington took the oath of office overlooking Wall Street. Federal Hall and Wall Street is also where the Bill Of Rights was passed.
Looking back in time we see that when the government needed money for the war they sold bonds with the promise of paying it back in the future. This all took place in the colonial days and private banks wanted to help where they could. However, in their effort to help they were issuing company stocks. It was not long after this that people learned this was a good way to invest their money. It also gave them the opportunity to increase their wealth.
A few years later there was a rapid growth in the United States. This growth caused companies to need more funds in order to support the new demand. It also became obvious that companies would like to invest money in buying stock. If look back in history you will find that stocks have been a big part in the expansion of companies. The Industrial Revolution played a major role in changing the stock market.
The effect of the stock market crashing was devastating. Many people lost their jobs, their fortunes and some even lost their lives. This in turn brought on the great depression. The great depression was so severe that even businesses did not have enough credit to pay with check. It also caused them to have problems with their inventory and people that had deposited money had no choice but to sit back and watch their money disappear as their banks crashed.
Knowing about stock market history will be a benefit to you. You may even find it interesting.
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