NYSE During WWI - Why the Shut Down?

The history of the New York Stock Exchange is littered with colourful stories that feature soaring stocks and bonds, horrible crashes, as well as ceremonies to mark significant moments in history and even simple holidays.

When World War I broke out in 1914, the governing body of the New York Stock Exchange decided to suspend trading. In retrospect, an initial closing government student loans consolidation probably a good idea since holdings in Europe of American securities were more than likely going to be extremely unstable. The shut down was considered to be an emergency measure, but a necessary one to keep the market from crashing altogether.

The market closed on August 1, 1914, but what shocked so many was that the market didn't just close for a day or two, it closed for four months. While by today's standards, the idea of no trading for four months seems outrageous and basically impossible, traders in that time cash for structured settlement exactly the same way. The only other time up to that point in the history of the NYSE that there was a closure was during the Panic of 1873, which featured over 30 firms on Wall Street to go out of business. But even then, the exchange only closed for 10 days, not months. So, what was the cause of this extended closure?

One of the major reasons was the president at the time Woodrow Wilson. He felt it was very important for all the Federal Reserve banks to be up and running before the stock market was reopened. But Wilson's treasury secretary kept the market closed even after those banks were online. Why? The emergence of a secondary and much smaller trading market called the New Street Market had opened, and while it was a far cry from the organization and scope of the NYSE, it did help relieve some of the pressure that not having the NYSE open caused.

The New Street market was never really taken seriously by major business. The New York Times and the NYSE made sure the New Market didn't gain any traction in the city. The NYSE heavily lobbed the government to reopen so they could put an end to the New Market once and for all.

The NYSE was kept closed for four months mainly out of fear of a crash that would plunge the economy into a recession or an all out depression. The New Market helped to get some trading done and when the proper safeguards were in place, the NYSE reopened.

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The Advantages of Hosting a Webinar

Webinars are ways of reaching out to people--prospects, leads, work colleagues, staff--without having to go anywhere; yet they offer a very dynamic and totally interactive way of having people from possibly all over the globe come together mentally and emotionally if not bodily. They are a great embodiment of what some would call a more "spiritual" reality, where people can meet together without having to go anywhere.

Of course, in a business sense, webinars offer the ability to save buckets of money on travel and other related meeting expenses while still having a full experience. Webinars are a far cry beyond the large-screen TV meetings that seemed so cutting edge a decade ago but never went all that far. They are even farther beyond teleconferences where there is just talk between several different people in just a couple of locations without any ability to see each other or interact with each other. Once upon a time these things were all seen as great meeting options, yet expensive travel and expensive lodging to meet together in person still was the state of the art.

Now, our fuel costs and other travel costs have risen dramatically; and people are busier than ever and are seeking ways to not need to be so far away from home so much of the time. They are more than willing, in many cases, to cut their hours and their pay in exchange for more personal freedom. One solution to these expenses and this love of liberty that has arisen is the virtual office, where business can be conducted by an entire company via cell phones and PCs or Macs or laptops. The webinar has arisen as part of this new 21st century business culture.

If a person can take part dynamically in an important meeting for training or product and service learning while sitting in the comfort of his own office, or his den, or his favorite restaurant, with no worry about plane tickets, car rentals, gas bills, tolls, hotel rooms, instant car insurance his suit cleaned and pressed, spending nights away from his wife...why would he not do this instead of travel far and wide? The Internet and webinar have made this once upon a time dream a tangible and pragmatic reality.

The webinar can be an amazing sales and marketing tool. But it can also allow for collaboration on a project or important document, an important marketing department meeting, or a corporate training session. One person can reach out to any satellite location that has a high-speed Internet connection with which to get "tuned in" and connect. Customer solutions can be come up with and implemented in real time, too. A company that makes use of webinars can make itself a powerful presence in the business lives of its clients.

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