THE NEW YORK GOLD ROOM: Wall Street's Big Gamble on the Civil War (History Shorts / Original Voices Book 1)
(In all American history, with its many financial booms an...)
In all American history, with its many financial booms and busts, only once has the United States Congress stepped in and closed a major financial market in the middle of active trading, trying to stop speculation and cool prices. This took place in 1864 at a bloody point of the Civil War. Its target? The New York Gold Exchange, or Gold Room.
British-born Kinahan Cornwallis (1839-1917) witnessed these events while working in New York City during the War as a reporter for the New York Herald, and he wrote this original account in 1879 as the Gold Exchange was preparing to close its doors. We at Viral History are proud to present it in an updated, readable form as the first in a new series called History Shorts / Original Voices, compelling eye witness accounts of American history.
The Gold Room: And the New York Stock Exchange and Clearing House (Classic Reprint)
(Excerpt from The Gold Room: And the New York Stock Exchan...)
Excerpt from The Gold Room: And the New York Stock Exchange and Clearing House
Ten at three-quarters, some seller would shout, with an energy that under other Circumstances might have seemed to savor of desperation.
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Two Journeys to Japan, 1856-7; In Two Volumes, Vol. I
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Travel is the movement of people between...)
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Travel is the movement of people between two geographical locations. Travel can be done by foot, bicycle, automobile, train, boat, bus, airplane, or other means, with or without luggage, and can be one way or round trip. Over the span of history, travel has becomer safer, cheaper and more common among the world's population. In the Middle Ages pilgrimages were a major reason for civilian travel in both the Christian and Muslim worlds. It became fashionable during the late 16th century for young European aristocrats and wealthy upper class men to undertake a Grand Tour of major European cities as part of their education. It included historic cities such as London, Paris, Venice, Florence and Rome. During the 19th century innovations led to rail networks and steamship routes that stimulated tourism.
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Wreck and Ruin: Or, Modern Society, in Three Volumes, Vol. III. 1859
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Royalty in the New World; Or, The Prince of Wales in America
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The Americas were settled by people migr...)
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The Americas were settled by people migrating from Asia at the height of an Ice Age 15,000 years ago. There was no contact with Europeans until Vikings appeared briefly in the 10th century, and the voyages of Christopher Columbus from 1492. America's Indigenous peoples were the Paleo-Indians, who were initially hunter-gatherers. Post 1492, Spanish, Portuguese and later English, French and Dutch colonialists arrived, conquering and settling the discovered lands over three centuries, from the early 16th to the early 19th centuries. The United States achieved independence from England in 1776, while Brazil and the larger Hispanic American nations declared independence in the 19th century. Canada became a federal dominion in 1867.
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United States history began with the migrations of Indigenous people prior to 15,000 BC. Christopher Columbus's 1492 expedition enabled European colonization, with most colonies formed after 1600. By the 1770s, 13 British colonies held 2.5 million people along the Atlantic coast east of the Appalachians. The British government imposed new taxes after 1765 and would not agree to the colonists having a say in their determination. The American War of Independence, 1775–1783, ensued, resulting in independence, and another war was declared against Britain in 1812. The next 50 years saw the expansion of American states and territories through the west, however growth was curtailed by the costly American Civil War, which broke out in 1861 over the Confederate States' wish to continue the practice of slavery, and the Union's wish to preserve the union. By 1865 some 620,000 people died, making it the most costly in US history. Alaska was purchased from Russia in 1867. The next decades up to World War 1 saw large migrations from Europe and massive growth in the US economy. The US had a short but decisive influence on World War 1, suffered during the Great Depression, and had an even greater decisive influence on the outcome of World War 2. The US then engaged in a Cold War with its military and ideological adversary, the USSR, which disintegrated in 1991. Over the 20th century the US was not just a dynamo of technological advancement, but also contributed greatly to world growth.
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(This book was originally published prior to 1923, and rep...)
This book was originally published prior to 1923, and represents a reproduction of an important historical work, maintaining the same format as the original work. While some publishers have opted to apply OCR (optical character recognition) technology to the process, we believe this leads to sub-optimal results (frequent typographical errors, strange characters and confusing formatting) and does not adequately preserve the historical character of the original artifact. We believe this work is culturally important in its original archival form. While we strive to adequately clean and digitally enhance the original work, there are occasionally instances where imperfections such as blurred or missing pages, poor pictures or errant marks may have been introduced due to either the quality of the original work or the scanning process itself. Despite these occasional imperfections, we have brought it back into print as part of our ongoing global book preservation commitment, providing customers with access to the best possible historical reprints. We appreciate your understanding of these occasional imperfections, and sincerely hope you enjoy seeing the book in a format as close as possible to that intended by the original publisher.
(This book was originally published prior to 1923, and rep...)
This book was originally published prior to 1923, and represents a reproduction of an important historical work, maintaining the same format as the original work. While some publishers have opted to apply OCR (optical character recognition) technology to the process, we believe this leads to sub-optimal results (frequent typographical errors, strange characters and confusing formatting) and does not adequately preserve the historical character of the original artifact. We believe this work is culturally important in its original archival form. While we strive to adequately clean and digitally enhance the original work, there are occasionally instances where imperfections such as blurred or missing pages, poor pictures or errant marks may have been introduced due to either the quality of the original work or the scanning process itself. Despite these occasional imperfections, we have brought it back into print as part of our ongoing global book preservation commitment, providing customers with access to the best possible historical reprints. We appreciate your understanding of these occasional imperfections, and sincerely hope you enjoy seeing the book in a format as close as possible to that intended by the original publisher.
Kinahan Cornwallis was a British-born American lawyer, editor, and writer. He worked as an editor for the New York Herald, the Knickerbocker Monthly, the Wall Street Daily Investigator and the Wall Street Daily Investor.
Background
Kinahan Cornwallis was born on December 24, 1839 in London, England. He was the son of Elizabeth and William Baxter Kinahan Cornwallis, barrister-at-law. Certain branches of the Cornwallis family were of Irish origin but Kinahan Cornwallis said of himself that he never saw or walked on Irish ground until he was fifteen and that his parents were not Irish, but English.
Education
Cornwallis attended school in Liverpool.
Career
While still very young, Cornwallis entered the British Colonial Civil Service and spent two years in Melbourne, Australia. At this time and later he visited the Philippines, Singapore, Ceylon, Suez, Egypt, and various parts of Japan, Australia, Africa, South America, and Canada.
In 1860 he came to New York and secured an editorial position on the New York Herald, where he continued until 1869, acting much of the time as financial editor. When the Prince of Wales, later Edward VII, visited the United States in 1860, Cornwallis was selected by the State Department, as a representative of the government, to accompany the Prince on his travels through the country. In 1863 he was admitted to the New York bar.
He became editor and proprietor successively of the Knickerbocker Magazine and the Albion and from 1886 until about the time of his death was editor and proprietor of the Wall Street Daily Investigator, later the Wall Street Daily Investor. During all this time he successfully practised law, with offices in Nassau St.
Before coming to the United States, while still under twenty, Cornwallis had published several books. He continued writing at intervals, novels, verse, travels, history, and works on legal and financial subjects, until he was over sixty. When dealing with the New York Stock Exchange or legal subjects, he writes as something of an expert but as a historian his work would hardly be considered scholarly. The institution of slavery, with all its social results, and its downfall in the Civil War period furnished material which he used both in history and novels. His verse is negligible. His travels are interestingly written, with original personal observations and much humor. His novels, which he particularly enjoyed writing, are frankly modeled after the picaresque romances of Sterne and Smollett. They are stories of wanderings, hardships, and adventures, melodramatic and frequently interrupted by pages of moralizing. His own travels are utilized as backgrounds.
At the time of his death Cornwallis was living in New York City. He died, after a short illness, at St. Luke’s Hospital.