Stocks Street Form
Stocks Street Form
Origins Of The Stock Market – How Was Today’s Market Formed?
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How Did It Come To This Country?
The origins of the stock market start in 1606. This is when the first stock certificate was ever issued.
This took place in the maritime empires (lots of sea trade) of the Netherlands and Portugal.
So, that’s where it started. And in time, it moved here, to America. But not before visiting Spain and England.
There was one very special man who has been credited for bringing the idea here to America. If you’ve ever been to NYC, you may have seen a statue of him. His name is…
Alexander Hamilton
Alexander Hamilton made his way by becoming the first US secretary of the treasury.
He was a great influence in the origins of the stock market.
Because of this powerful position that he had, he was able to convince many people (the right ones) that having a stock market would be a great help to building up the American economy.
Now, I’m not saying that he came up with the idea. As I already said, it came from the maritime empires.
But regardless, he was a strong advocate and a great help to building the strong economy that we have today.
The Government Doing Their Part
The government stepping in didn’t hurt either. They decided to to sell bonds to raise money for the war at the time. They were a major influence in the origins of the stock market. I realize that this is not the current way that the stock market works. But, thanks to the entrepreneurs that took the idea and spun it, we have what you see today on Wall Street in New York City.
Anyways, after the government started doing this, banks decided to as well. Except they sold stocks instead.
The banks saw that it was a good idea and that it worked for the government. Well, as it turns out, it also worked for the banks.
Eventually private companies decided to take the risk as well and started selling stocks. This came to be known as the speculators’ market as more and more companies joined in.
Formation Of The NYSE
So yes, finally the New York Stock Exchange Board Was Formed. This took place in the early origins of the stock market, 1817.
Many years later, the name was changed to simply the New York Stock Exchange. This took place in 1972.
As I said before, there were rules in the beginning, as there are with all new things. These rules were not perfect. But they were a starting point at least. These rules were formed when the stock exchange was formed, in New York, by 24 large merchants.
Eventually the stock exchange expanded and they needed a larger building. So, 40 Wall Street was chosen.
As with all new things, rules had to be made. How are rules usually made? By making a mistake (such as the great stock market crash which I will discuss in a second) and trying to fix the problem.
Yes, the wealthy were extremely happy because they were allowed to invest with such tactics, such as “pooling” they’re money. However, that didn’t last long.
More Government Help
So, the origins of the stock market state that the NYSE began in the early 1800s. Of course later on there was the AMEX and the NASDAQ.
Back to the rules and regulations, they were not perfect. The country realized this so much more as the great market rise took place in the early 1900s. Then boom, CRASH.
After the great stock market crash of 1929, the country decided to re-evaluate things. What came out of this great mistake was the Securities And Exchange Act.
The Securities And Exchange Act is in charge of making and implementing all rules of the stock market.
Of course nothing is perfect. But to this day, we have done our best to make stock trading fair and ethical for both the businesses and the investors.
“Some Stocks Form High-Handles” – from GoldenTicker.com
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