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<\/a><\/p>\n In March 1792, a little more than twenty of New York\u2019s most prominent merchants convened in an attempt to bring order and structure to the securities business. Two months later, these gentlemen agreed to a set of 14 rules and signed the document called the Buttonwood Agreement, named this way after their regular meeting place under the branches of a buttonwood tree. Considered one of the most financially significant documents in our nation’s history, the Buttonwood agreement established what is now the New York Stock Exchange.[3]<\/p>\n Three years before the establishment of the New York Stock Exchange, Wall Street was home to the inauguration of the United States\u2019 first president. At the time, Wall Street was home to Federal Hall, or Old City Hall, New York\u2019s first City Hall. It was here that George Washington took his oath of office in 1789.[4]<\/p>\n <\/a><\/p>\n <\/p>\n Wars throughout the 19th century further contributed to the organization and economic expansion of Wall Street. The first instance of this is in reference to the War of 1812. The war forced the signers of the Buttonwood agreement to organize themselves in order to remain in business. Eventually in 1817, the New York Stock Exchange Board was conceived. Despite its growth, the N.Y.S.E. Board was never able to obtain control of a majority of the securities traded in New York.[5] Another consequence of the War of 1812 was the increase in establishment of transportation systems and companies. The transportation industry became the first growth sector of early capital markets. The Panic of 1837 was the worst of the nineteenth century depressions. Suspension of specie payments forced banks out of business, and many small businesses that depended on them as well. Wall street itself witnessed multiple banks close their doors that year. Chaos ensued to the point that the militia had to be called to preserve order. Despite this setback, by 1840, New York\u2019s status as the center of securities trading in America was clear.[6]<\/p>\n In addition to the War of 1812\u2019s contributions to Wall street\u2019s economic prosperity, the Civil War proved to be amazing for the North\u2019s economy. From the mid-1800\u2019s to the early 1900\u2019s the economy shifted from an agriculturally centered one to industrial, and then finally establishing itself as a financial one.[7]<\/p>\n In the 1880s, Charles Dow began tracking stocks and eventually establishing the Dow Jones Average. Dow\u2019s numbers were used by many to track the entire stock market. In 1889, the Customer\u2019s Afternoon Letter<\/em>, a printed daily summary of trading activity, became The Wall Street Journal<\/em> which now happens to be an influential international business newspaper.[8]<\/p>\n Disaster struck Wall Street in September 1920. On the corner of Wall and Broad Street, the Financial District\u2019s busiest corner, a bomb exploded. Although those responsible were never apprehended or identified, approximately 30-40 souls were lost as a result of the incident. To this day, the stone in surrounding buildings are scarred from the event that occurred over a century ago.[9]<\/p>\n![\"Painting](\"https:\/\/blogs.shu.edu\/nyc-history\/files\/2022\/04\/Picture2-2-305x210.jpg\")
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