11/24/2023 0 Comments Average salary of an architect nyc![]() The first Anglo-Dutch War ended in 1654 without hostilities in New Amsterdam, but over time the "werken" (meaning the works or city fortifications) were reinforced and expanded to protect against potential incursions from Native Americans, pirates, and the English. In fact Stuyvesant had ordered that "the citizens, without exception, shall work on the constructions… by immediately digging a ditch from the East River to the North River, 4 to 5 feet deep and 11 to 12 feet wide." And that "the soldiers and other servants of the Company, together with the free Negroes, no one excepted, shall complete the work on the fort by constructing a breastwork, and the farmers are to be summoned to haul the sod." The wall was built of dirt and 15-foot (4.6 m) wooden planks, measuring 2,340 feet (710 m) long and 9 feet (2.7 m) tall and was built using the labor of both enslaved Africans and white colonists. Fearing an over land invasion of English troops from the colonies in New England (at the time Manhattan was easily accessible by land because the Harlem Ship Canal had not been dug), he ordered a ditch and wooden palisade to be constructed on the northern boundary of the New Amsterdam settlement. ![]() The original wall was constructed under orders from Director General of the Dutch West India Company, Peter Stuyvesant, at the start of the first Anglo-Dutch war soon after New Amsterdam was incorporated in 1653. New Amsterdam's wall depicted on tiles in the Wall Street subway station ![]() However, in 17th century New Amsterdam, de Waal Straat (Wharf or Dock Street) was a section of what is today's Pearl Street. Confusion over the origins of the name Wall Street appeared in modern times because in the 19th and early 20th century some historians mistakenly thought the Dutch had called it "de Waal Straat," which to Dutch ears sounds like Walloon Street. New York Governor Thomas Dongan may have issued the first official designation of Wall Street in 1686, the same year he issued a new charter for New York. This use of both names for the street also appears as late as 1691 on the Miller Plan of New York. After the English takeover of New Amsterdam in 1664 they renamed the city New York and in tax records from April 1665 (still in Dutch) they refer to the street as "Het Cingel ofte Stadt Wall" (the Belt or the City Wall). In the original records of New Amsterdam, the Dutch always called the street "Het Cingel" (" singel" in modern Dutch), which was also the name of the original outer barrier street, wall, and canal of Amsterdam. History Early years The original city map, called the Castello Plan, from 1660, showing the wall on the right side The street is near multiple New York City Subway stations, ferry terminals, and the World Trade Center site. Wall Street itself is a narrow and winding street running from the East River to Broadway and lined with skyscrapers, as well as the New York Stock Exchange Building and Federal Hall National Memorial and One Wall Street at its western end. However the direct economic impacts of Wall Street activities extend worldwide. To support the business they did on the exchanges, many brokerage firms had offices nearby. Several other stock and commodity exchanges have also been located in downtown Manhattan near Wall Street, including the New York Mercantile Exchange and other commodity futures exchanges, and the American Stock Exchange. The Wall Street area is home to the New York Stock Exchange, the world's largest stock exchange by total market capitalization, as well as the Federal Reserve Bank of New York, and many commercial banks and insurance companies. In the 20th century, several early skyscrapers were built on Wall Street, including 40 Wall Street, once the world's tallest building. In the early 19th century, both residences and businesses occupied the area, but increasingly business predominated, and New York City's financial industry became centered on Wall Street. During the 18th century, Wall Street was a slave trading marketplace and a securities trading site, and from the early eighteenth century (1703) the location of Federal Hall, New York's first city hall. ![]() An actual wall existed on the street from 1653 to 1699. Wall Street was originally known in Dutch as "Het Cingel" (or "the Belt") when it was part of New Amsterdam in the 17th century. Anchored by Wall Street, New York has been described as the world's principal financial and fintech center. The term "Wall Street" has become a metonym for the financial markets of the United States as a whole, the American financial services industry, New York–based financial interests, or the Financial District itself. It runs between Broadway in the west to South Street and the East River in the east. Wall Street is an eight- block-long street in the Financial District of Lower Manhattan in New York City.
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