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 II. Organized security markets and their economic functions

Collection:: Economics Books

CHAPTER II ORGANIZED SECURITY MARKETS AND THEIR ECONOMIC FUNCTIONS Antiquity of Markets.—To establish markets is one of the most ancient and fundamental instincts of civilization. From the earliest times the development of industry has nec- essarily been accompanied, step for step, by the constant cre- ation and expansion of markets which could distribute the products of industry. Even in darkest Africa the natives, still in a state of savagery, are perfectly accustomed to market places, where the buyers and sellers among them can meet to barter with each other their simple products of the chase and the fields. The oldest civilizations of the world had estab- lished market places before written history began. The bat- tered temple pylons of ancient Egypt, for instance, show us the fisherman, the weaver, the potter, the poulterer, the farmer, and the metal-worker bartering their several products in mar- ket places centuries before currency was invented. The markets of the classical world, developing from equally crude and primitive trading, attained a broader scope and a higher degree of organization, and played a more significant part in the processes of civilization, than historians seem to appreciate. The famous Agora, long the center of Athenian political life, where the just Aristides and the shrewd The- mistocles were ostracized from the state, was originally a market place which had sprung up at the foot of the Acropolis where the seven roads of Attica converged. Long before Solon instituted the Athenian coinage system, the fisherman from the Pirzus bartered his fish here for the barley of the Attican farmers. y at

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