The work of the Stock Exchange

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Monograph

Identifikator:: 1831284952

URN:: urn:nbn:de:zbw-retromon-225876

Document type:: Monograph

Author:: Meeker, James Edward http://d-nb.info/gnd/126597340

Title:: The work of the Stock Exchange

Edition:: Revised edition

Place of publication:: New York

Publisher:: The Ronald Press Company

Year of publication:: [1930]

Scope:: XVI, 720 Seiten; Illustrationen, Diagramme

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter III. The rise of the New York stock exchange

Collection:: Economics Books

RISE OF THE NEW YORK STOCK EXCHANGE 85 commercial practice, governmental finance, and many other varying economic forces which converge upon them. One corollary of this process of constant evolution in Stock Exchange methods has naturally been a steady improvement in business practices upon it, not only from an economic but also an ethical viewpoint. The fact that progress has occurred, natu- rally indicates that methods on the Stock Exchange which were formerly looked upon as the custom of the trade, would not be tolerated at all today. It is not unlikely, too, that present methods may gradually undergo similar improvement in the future. The Stock Exchange makes no idle claims to perfection. [t realizes thoroughly that its evolution has not yet ended. It is still deeply concerned, not merely with expanding its facili- ties, but also with improving its methods and further eradicat- ing the frequently stubborn vestiges of ancient abuses. Yet in its integrity of purpose, its efficiency of operation and its broad economic usefulness, it can without boastfulness invite comparison with any other American business institution. In- deed, it has always compared favorably in this way with con- temporary American business, from the slave-holding days of the old brokers under the buttonwood tree down to the present time. Stock exchanges are a very necessary part of the finan- cial machinery everywhere demanded by modern civilization, and it is through no accident that the most cultured and pros- perous nations today are those which possess the most and the largest organized securities markets.

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