6 Intriguing Things To Know About Wall Street

Wall Street is more than just a winding eight-block road in Manhattan's Financial District.

It's an allegory for the financial markets in the United States, a metaphor for elitism and economic power politics. Wall Street began merely as a wooden wall during the 18th century but is now among the most valuable pieces of real estate.

It's home to two of the largest stock exchanges globally (the NASDAQ and NYSE). The 'Wall Street' term is used for media brands like the Wall Street Journal and, who can forget, The Wolf of Wall Street.

So, without further ado, here are six interesting facts about one of the most famous streets on planet Earth.

1. Its name comes from, well, an actual wall

Wall Street got its start in 1652 during the Anglo-Dutch Wars. Enslaved folk and colonists constructed a 2340 ft long and 9 ft tall wooden wall under the orders of Peter Stuyvesant.

This was to fend off potential attacks from the English. The Dutch settlers named the street 'Het Cingel', which soon morphed into Het Cingel ofte Stadt Wall" (the Belt or the City Wall).

Another theory, which is debated, is that the Dutch named the street 'de Waal Straat.' While technically correct, this referred to the Pearl Street section, a stone's throw from Wall Street.

2. Wall Street was once a hub for slave trade

It's common knowledge that slavery was widespread during the USA's early formation. But, many don't know that Wall Street was one of the hubs for enslaved farmers, labourers and domestics. The government-sanctioned trade ran from 1711 to 1762 between Wall and Pearl Streets.

Whether distasteful or not, NYC's City Council later built a historical marker (on the image above) in 2015 on Wall Street to signify this period.

3. The first US Presidential inauguration happened on Wall Street

26 Wall Street has the Greek Revival-esque Federal Hall built in 1842. This served as New York's first city hall, becoming a meeting place for all things Congress.

One of the pivotal events at this place was George Washington's presidential inauguration, the USA's first-ever president.

4. Wall Street has one tree which is of particular significance

We don't know when they planted the buttonwood/sycamore tree. But, we know it stands today outside the New York Stock Exchange, founded in 1792. This was the meeting spot of 24 stockbrokers who created the Buttonwood Agreement.

This no-frills two-sentence document set the rules for trading shares and applying commission rates. It may seem insignificant, but this agreement laid the foundation of our modern trading system.

5. It's close to a vault that holds tons of gold underground

We know that America has always been a gold hoarder. Wall Street is about a two-minute drive from the Federal Reserve Bank of New York, which contains the largest-known gold reserve in the world.

Of course, this hoard is continually growing. As of 2019, the vault held at least 6190 tons of the precious metal.

6. The 'Charging Bull' once was illegally placed on Wall Street

The bronze 7100-pound Charging Bull or Bull of Wall Street is one of Wall Street's most endearing tourist attractions. It was created by Italian sculptor Arturo di Modica (1941-2021), who installed it in December 1989

Yet, the creation has an 'illicit guerilla art' backstory because Di Modica had no permit to display it. So, the sculptor secretly waited for the evening to drop it from the back of a truck. The NYC Police Department removed it later that evening, but only to put it back at another spot on Wall Street a few days later.