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The Origin of Wall Street

First off let’s investigate where the name Manhattan derives from. It comes from the word Manna-hata, the European name given by the settlers to the Native American people who lived there (now believed to be the Lenape tribe). A ship from the Dutch West India company with an officer named Robert Jeut were sent on a mission to discover a Northwest Passage to China;  it set out on the mission and landed in the Upper New York Bay instead on September 11, 1609. The Ship anchored off the northern tip of Manhattan. The ship’s captain, Henry Hudson, named the river “Mauritius River,” later changed to the Hudson River.

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In 1625 the fortress town of New Amsterdam on Manhattan Island was founded by Wilem Verhulst, director of the Dutch West India Company. This making Manhattan Island the first permanent European settlement in what we now know as part of New York City, or as I call it, the heart of New York City. In 1626 Verhulst’s successor bought the Island from the Lenape for 60 guilders worth of goods. The value of these goods equaled $24.00, which in today’s currency works out to about $500-$700 dollars!

Now, bear in mind, the Lenape people had no concept of  land ownership. As far as they were concerned land could not be owned by anyone. Land, in their mind was like water, and air, there for all to partake in, freely. They saw the goods as a gesture of appreciation to them for sharing the land with the Europeans. They lived in peace for a little while. When the Lenape people later wanted the land back, the settlers built a wall to keep them out. That wall later became what we know as Wall Street where the New York Stock Exchange stands today. Think about that when you visit Wall Street next time.

Just a note: I really do appreciate comments, but please refrain from racial slurs, they will not be posted, so don’t waste your time.  Also, although I’ve posted some comments with anti-capitalist innuendos, that does not mean I agree, but every one is entilted to their opinion. But please let’s all be nice. Thanks!

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6 Comments to “The Origin of Wall Street”

  1. IT JUST STRUCK ME THAT THE DUTCH SEEM TO HAVE BEEN AT THE HELM OF TERRITORIAL CONQUEST NOT JUST IN SOUTH AFRICA BUT THE AMERICAS AS WELL. AND THEY WERE A COMPANY. CALL IT DUTCH WEST OR DUTCH EAST INDIA COMPANY, THEY WERE DETERMINED CAPITALISTS. SPEAKS OF WHAT THE COPORATE WORLD EVEN IN EARLY WALL STREET DAYS WAS UP TO. ISN’T ALSO STRIKING THAT SEPT 11 1609, WAS AN EXPLOSIVE DISCOVERY FOR AMERICAN ECONOMIC DEVELOPMENT, YET ON THE SAME DAY IN 2001, AMERICA WAS DEALT AN UNFORGETTABLE BY BLOW BY TERRORISTS.

  2. “When the Lenape people later wanted the land back, the settlers built a wall to keep them out. That wall later became what we know as Wall Street where the New York Stock Exchange stands today.”

    Why am I not surprised?

  3. We seem to thrive on taking what belongs to others.
    Yes, we move in as friends, and then we name them the hostiles only because they want to keep what we want to take.

    Yes. Why am I not surprised?

  4. What is the big hangup wit wall street and
    capitalism? Capitalism (wall street included)
    has made for a solid comfortable living
    for millions of middle class Americans.
    Including myself. Thanks to capitalism even
    the poor in this country live quite
    comfortably in comparison to the poor
    in most other countries. I don’t resent
    the success of others I emulate their
    actions in hopes of becoming more successful
    and hopefully wealthy. I believe most
    Americans feel the same as I do.
    By the way life isn’t always fair.
    That’s just a reality of life.:

  5. I agree with you Connie. But I do give others a chance to voice otherwise, it does not mean I agree with their take.

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