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by Charles River (Author)
*Includes pictures *Includes accounts of Wall St.'s history from New Amsterdam to today *Includes online resources and a bibliography for further reading *Includes a table of contents "Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway." - Warren Buffett In the heart of Lower Manhattan lies a prestigious strip running 8 blocks long. From Broadway to the East River, impressive towers and columned buildings slapped with smooth, well-aged limestone stand proudly under the afternoon sunlight. Some of the nation's largest investment firms and brokerages line these blocks, and among these landmarks is one that effortlessly stands out from the rest: the home of the New York Stock Exchange. Resting on 11 Wall Street, this handsome curved structure built with white Georgian marble is a double-sided beaut. Above 3 flags rustling in the breeze, the Broad Street entrance boasts 6 Corinthian columns and is topped off with a triangular pediment featuring a sculpted series of human figures. This distinguished district, of course, is none other than Wall Street. Smartly dressed men and women armed with swinging suitcases, phones, and Bluetooth headsets pour out of the buildings, joining the bustling crowd in the sidewalks. A few blocks down, tourists surround a gleaming bronze bull for a snapshot with the famous monument. All over the place, there is a palpable sense of urgency, determination, and fast-paced energy hanging in the air. It is an energy the driven inhabitants live, breathe, and thrive on each day. Since the beginning of time, money and trading have shaped the economy of civilization. The earliest societies began with barter, otherwise known as the mutual exchange of goods and services. Grains, plant products, cattle, camels, sheep, and other livestock were the first forms of currency. In Eastern and African countries, money came in the likes of cowrie shells. Currency evolved as time progressed, passing through the ages as primitive copper coins, stamped coins, leather squares, stringed beads, gold, and finally, to the paper and electronic currency used today. Back in the day, those who owned the largest fleet of livestock and farmlands climbed were at the top of the financial ladder. By today's standards, wealth is often measured by annual income, property, assets, and stock ownership. This most likely explains why many are so drawn to Wall Street, particularly to the NYSE, the world's largest stock exchange. Every year, thousands of young go-getters fresh out of college aspire to join the ranks, all to grab just a sliver of the pie Wall Street serves. And what a rich, hearty pie it is indeed; the market capitalization of the companies listed in the NYSE alone was at a reported $18.3 trillion in 2015. Over the years, Wall Street has been equally glamorized and demonized for what it represents. To some, this is where lifelong dreams of riches, power, and fast living come to meet. To others, it is the breeding ground of the crooked 1%. All the same, its mystique is one that only the most ambitious penetrate. Wall Street: The History of the New York City Block that Became America's Financial Center dives into the fascinating birth and history of Wall Street, as well as how it transcended through the years to earn its status as the world's leading trading hub. Along with pictures of important people, places, and events, you will learn about Wall Street like never before.
