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Page 19. " not for Wall Street "


Wall Street Sign
Creative Commons AttributionWall Street Sign - Credit: RMajouji

 Wall Street runs from Broadway to South Street on the East River in New York.  It is the financial district of the City and the home of the Stock Exchange.  As a term, it has transcended its specific location to encompass all financial commerce taking place in the area.  It has held this status since the early 19th Century, when the opening of the Erie Canal created new trade routes to elsewhere in the country.  The Civil War continued to help the area grow, as the North emerged victorious.  At this stage, banks began centralising their operations there, and the age of magnates such as John D. Rockefeller and J.P. Morgan came into being.  At the time of our story's setting, Wall Street was at its strongest and most prosperous.  This age also saw the birth of the skyscraper.  All this razzmatazz ended abruptly in 1929 with the collapse of the Stock Exchange, which led to the Great Depression.  The 1980s saw perhaps the greatest resurgence in the brash power of the district; as the film 'Wall Street' (1987) proclaimed: Greed is Good.