The name of [Wall Street] originates from an actual wall that was built in the 17th century by the Dutch, who were living in what was then called New Amsterdam. The 12-foot (4 meter) wall was built to protect the Dutch against attacks from pirates and various Native American tribes, and to keep other potential dangers out of the establishment.
The area near the wall became known as Wall Street. Because of its prime location running the width of Manhattan between the East River and the Hudson River the road developed into one of the busiest trading areas in the entire city. Later, in 1699, the wall was dismantled by the British colonial government, but the name of the street stuck.
The financial industry got its official start on Wall Street on May 17, 1792. On that day, New York’s first official stock exchange was established by the signing of the Buttonwood Agreement. The agreement, so-called because it was signed under a buttonwood tree that early traders and speculators had previously gathered around to trade informally, gave birth to what is now the modern-day New York Stock Exchange NYSE.
Today, …in some circles, the term “Wall Street” has become a metaphor for corporate greed and financial mismanagement
cited: LiveScience : Denise Chow, Assistant Managing Editor | May 3, 2010 01:04pm ET
2 replies to “Wall…street”
Well, I learn something new every day….
Interesting bit of history 🙂
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