History of Wall Street in New York

Wall Street is one of the most famous streets in theThis early literal wall association to the street was
world and is also one of the nation's, and perhaps thefurther supported on behalf of the Dutch West India
world's, most symbolic. It represents not only theCompany. A much stronger stockade was established
New York Stock market and financial district that isand enforced. This established a 12 foot supported
literally associated with it, but also the overall nationalwall that was used as a defense against American
economic system and well-being of this country. AndIndian attack, and the perceived threat of such. By
since the economic systems of countries across the1865 surveyors came and laid out the lines of the
world are connected and interdependent, whatformal Wall Street according to the original stockade.
happens on Wall Street affects the economicThe official wall that was associated with it was
systems of the world. It's really amazing to considerdismantled in 1699. However, the name was now
the symbolic significance of this one little street inbecoming a permanent association of the street and
Lower Manhattan that extends from Broadway tothe following century would see the beginnings of the
South Street along the East River.financial aspect that is now its prominent association.
The name of this famous street was derived fromBy the late 18th century was a particular buttonwood
the 17th century when the street served as thetree located along the foot of Wall Street that
northern boundary to the New Amsterdambecame a popular gathering place for various market
Settlement. The boundary aspect of it initiated itstraders and speculators. By 1792 these speculators
status as a wall, and it began to be referred simplydecided to formalize their purpose and an agreement
as wall street, a literal association. During the 1640s awas reached which was the Buttonwood Agreement.
series of plank and picket fences served to solidifyThis was the official development of what would
the imagery and name of Wall Street and it hasbecome the financial district of New York and the
remained being called that since that time. It'sstock exchange. This is an interesting part of New
interesting that such a simply literal orientation wouldYork city and is a popular story for many tourists as
eventually develop into one of the most symbolicthey tour the city in one of the bus or other guided
names in the world.tour programs.