when did the new york stock exchange begin
New York Stock Exchange The earliest recorded organization of securities trading in New York among brokers directly dealing with each other can be traced to the Buttonwood Agreement. Previously securities exchange had been intermediated by the auctioneers who also conducted more mundane auctions of commodities such as wheat and tobacco.[13] On May 17, 1792 twenty four brokers signed the Buttonwood Agreement which set a floor commission rate charged to clients and bound the signers to give preference to the other signers in securities sales. The earliest securities traded were mostly governmental securities such as War Bonds from the Revolutionary War and First Bank of the United States stock,[13] although Bank of New York stock was a non-governmental security traded in the early days.[14] The Bank of North America along with the First Bank of the United States and the Bank of New York were the first shares traded on the New York Stock Exchange.[15]
History of New York City During the 19th century, the city was transformed by immigration, a visionary development proposal called the Commissioners' Plan of 1811 which expanded the city street grid to encompass all of Manhattan, and the opening of the Erie Canal in 1825, which connected the Atlantic port to the vast agricultural markets of the Midwestern United States and Canada. By 1835, New York City had surpassed Philadelphia as the largest city in the United States. New York grew as an economic center, first as a result of Alexander Hamilton's policies and practices as the first Secretary of the Treasury.[27][28]