The Development Of Wall Street And Its Contributions To The United States

As the biggest financial market on earth, Wall Street has existed in this world longer than the United States and affects every major power in the world. And it has always been sticking to a simple purpose: making money quickly. It is this purpose that has largely shaped American history and will continue to influence the country’s future.However, Wall Street is not just a nest for greedy speculators or a mirror of ugly human nature. In fact, it has played an irreplaceable role in promoting the development of the United States. While its development relies on that of the United States, Wall Street largely influences the future direction of the country as well. In other words, Wall Street is Main Street.Chapter One of this thesis tells how New York developed into the economic and financial center of the United States. New York was neither the US capital nor the capital city of the New York State but it became such an important place for good reasons that were worth studying. Then Chapter Two analyzes the early development and growth of Wall Street, explaining how Wall Street which had been a place with no order met with its first bull market, and how Andrew Jackson led to speculation bubbles in Wall Street with the policies that had only meant to wipe out national debts for the federal government.Chapter Three examines how railway and telegram made Wall Street a totally different place and what an important role Wall Street played in helping the federal government win the American Civil War as well as why Wall Street was able to do so. Chapter Four explains why Wall Street should not be blamed as the cause of the Great Depression and how Wall Street became Main Street.