Abstract

Wall Street and the World

At the close of the World War I two Wall Streets, so to speak, were in existence. The older Wall Street represented the financial center of the U.S., the ups and downs of the market reflecting the hopes and fears of traders in predominantly American economic prospects. The newer Wall Street, however, means the banks that are developing our international business leadership. It represents the New World interests of the United States, the banker for governments during the conflict and the underwriter of business rehabilitation in the decade of reconstruction since 1919. As a world banker, Wall Street has come to rival even Lombard Street. Both sides of Wall Street, of course, are inextricably interwoven. Neither the domestic nor the international outlook can be disregarded.