The Secrets of the Great City: A Work Descriptive of the Virtues and the Vices, the Mysteries, Miseries and Crimes of New York CityMcCabe, James Dabney
History
The Secrets of the Great City: A Work Descriptive of the Virtues and the Vices, the Mysteries, Miseries and Crimes of New York City
McCabe, James Dabney
New York (N.Y.) -- Description and travel; New York (N.Y.) -- History
If you pass down Broadway to the main entrance to Trinity Church, and
then turn abruptly to your left and cross the street, you will find
yourself at the head of Wall street, the great financial centre of
America. It is a narrow street, extending from Broadway to East river,
and lined with handsome brown stone, marble, and granite buildings.
Scarcely a house has less than a score of offices within its walls, and
some have very near three times that number. Space is very valuable in
Wall street, and some of the leading firms in it have to content
themselves with a narrow, small, dark hole, which a conscientious man
would hardly call an office. The rent demanded for these "offices" is
enormous, and the buildings bring their owners princely fortunes every
year. The houses are all covered with signs, the names on which one
will immediately recognize as famous in the financial world. The
streets running into Wall street, for the distance of one or two
blocks, on the right hand and the left, are also occupied with the
offices of bankers and brokers, and are included in the general term,
"Wall street," or "the street."
ITS HISTORY.
Wall street has always been famous in the history of New York. It was
originally used as a sheep pasture. Its natural condition being partly
rolling upland and partly meadow of a swampy character. The name of the
street originated thus: In 1653, the Dutch settlers, being threatened
with an attack by their New England neighbors, resolved to fortify the
town by constructing a wall or stockade across the island just beyond
the northern limits of the settlement. The line selected was drawn
across the old sheep pasture. In the course of a few years, the
anticipated hostilities having passed over, the settlers began to build
houses along the line of the city wall, and the new street, when laid
off, received by common consent the name of "the Wall street," which it
has since borne. The wall, having fallen into decay, was demolished
about the year 1699, and the stones were used in building the first
City Hall, which stood at what is now the corner of Nassau and Wall
streets, the site of the Sub-Treasury of to-day. This building was used
for the various purposes of the city government until the close of the
Revolution. It contained, besides the council and court rooms, a fire
engine room, a jail for the detention and punishment of criminals, and
a debtors' prison, which was located in the attic, a cage, and a
pillory. A pair of stocks were set up on the opposite side of the
street, wherein criminals were exposed to the indignant gaze of a
virtuous public.
After the close of the Revolution, the building was enlarged and
improved for the use of the Federal Government. The first Congress of
the United States assembled within its walls in the year 1789, and upon
its spacious portico George Washington took the oath to support and
defend the Constitution, as President of the United States.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account