When did Wall Street become a symbol of capitalism?
When did Wall Street become a symbol of capitalism?
Reflection on Wall Street.
Encyclopædia Britannica, Inc.
Transcript
NARRATOR: Wall Street is one of New York City's most powerful symbols, a place whose name is synonymous with high finance and capitalism worldwide. Here the New York Stock Exchange lives. Formally constituted in 1817, the stock exchange is a hub of international business. Its southern Manhattan home was once a marketplace before the American Revolution. The name Wall comes from the rampart that Dutch colonialists used to protect the island from invaders long before the English took the island as their own.
Then, as the United States grew, trading houses expanded on the street. Its financiers installed themselves on Wall Street and made it a powerhouse of capitalism, first for the country and then the world. Names like Chase, Mellon, Rockefeller, and Morgan became synonymous with Wall Street, and indeed some New York institutions bear their names to this day.
Then, as the United States grew, trading houses expanded on the street. Its financiers installed themselves on Wall Street and made it a powerhouse of capitalism, first for the country and then the world. Names like Chase, Mellon, Rockefeller, and Morgan became synonymous with Wall Street, and indeed some New York institutions bear their names to this day.