Wall Street is the banking center of New York City. But how did the street get its unusual name? To find out, we must go back to the early years of exploration in North America.
New York City was first called New Amsterdam by the explorer Henry Hudson. He was working for a Dutch trading company when he entered what is now the lower Hudson River area in the year 1609. There he found an island that was a perfect trading harbor. The Manhattan Indians lived there.
Dutch traders built a town on the end of Manhattan Island. It became a rich trading center. But the British questioned the right of the Dutch to control the area. The two nations went to war in 1652.
The governor of New Amsterdam, Peter Stuyvesant, worried that British settlers in New England would attack his town. He ordered that a protective wall be built at the north edge of Manhattan. The wall was more than 2,290 feet long. It extended from the Hudson River to the East River.
The British never attacked New Amsterdam. So the wall was never tested in war. But the path beside it became known as Wall Street. Later, Wall Street became a street of banks and business.
Dealing in stocks and shares in the stock markets began in the 17th Century. An informal market developed around the coffee houses in the City of London gradually. In 1773 “New Jonathan’s” Coffee House became the informal Stock Exchange, and it was formally established till 1802. at that time London was the largest share market, and the growth of the Industrial Revolution helped the establishment of local share markets in other parts of the country --- more than 330 of them when there were most. These markets first began moves towards combination in 1890, when the Council of Associated Stock Exchanges was formed. By 1967 all the “Country” Exchanges had got together themselves into six regional exchanges, and in 1973 all seven exchanges in the British Isles came together to form The Stock Exchanges of Great Britain and Ireland, and its member firms spread from Aberdeen to the Channel Islands and from Lancaster to Limerick.
72. Manhattan was named after _____????????_____.
A. a Dutch explorer
B. a British colonist
C. an Indian tribe
D. the Dutch governor
73. The British and the Dutch went to war in 1652 because __________.
A. they both liked the rich island
B. they both wanted to have Wall Street
C. they both wanted to control the rich area
D. they had questions in some aspects unsolved
74. The wall _________.
A. was used in the war
B. was never used in the war
C. was destroyed later
D. was so weak that the British never tested it
75. In 1773 “New Jonathan’s” Coffee House became _________.
A. the place the merchants had their ventures
B. an informal stock exchanges
C. a formal stock exchanges
D. the biggest market in Britain