The Buttonwood Agreement Signers: A History of Wall Street`s Founding Members

The Buttonwood Agreement is one of the most important documents in the history of Wall Street. This agreement, signed on May 17, 1792, created the New York Stock Exchange and established a framework for trading securities in the United States. At the time, the agreement was signed by 24 brokers who agreed to trade securities only among themselves and charge a commission on each transaction.

These founding members of the New York Stock Exchange were known as the “Buttonwood Agreement signers” and they played a crucial role in shaping the financial industry in America. These were the men who established the rules and regulations that govern the stock market to this day. They were also some of the wealthiest and most influential people in the country, with many of them becoming prominent figures in government and business.

The Buttonwood Agreement signers were an eclectic group of men, ranging from early pioneers of the financial industry to wealthy merchants and traders. Among the signers were Alexander Hamilton, who would later become the first Secretary of the Treasury; John Henry Livingston, a prominent lawyer and politician; and Leonard Bleeker, a wealthy merchant and landowner.

The Buttonwood Agreement itself was named after the buttonwood tree that stood on Wall Street, under which the original brokers would meet to conduct their transactions. The tree stood for many years as a symbol of the early days of Wall Street, until it was finally removed in 1856.

The Buttonwood Agreement signers were the pioneers of the American financial industry, and their legacy continues to this day. The New York Stock Exchange has grown to become one of the largest exchanges in the world, with a market capitalization over $22 trillion. The regulations established by these early brokers laid the foundation for the financial industry as we know it today, and their influence can still be felt in every corner of the economy.

In conclusion, the Buttonwood Agreement signers were the founding members of the New York Stock Exchange and played a crucial role in shaping the financial industry in America. These early pioneers established the rules and regulations that govern the stock market to this day, and their legacy continues to influence the global economy. Their story is a testament to the power of innovation and creativity, and a reminder of the importance of history in the world of finance.