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]
New York City New York City traces its origin to its 1624 founding in Lower Manhattan as a trading post by colonists of the Dutch Republic and was named New Amsterdam in 1626.[45] The city and its surroundings came under English control in 1664[45] and were renamed New York after King Charles II of England granted the lands to his brother, the Duke of York.[46] New York served as the capital of the United States from 1785 until 1790.[47] It has been the country's largest city since 1790.[48] The Statue of Liberty greeted millions of immigrants as they came to the Americas by ship in the late 19th and early 20th centuries[49] and is a symbol of the United States and its democracy.[50] In the 21st century, New York has emerged as a global node of creativity and entrepreneurship,[51] social tolerance,[52] and environmental sustainability,[53][54] and as a world symbol of freedom and cultural diversity.[55]