#63 New York Stock Exchange
The Bowery Boys: New York City History
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Doar's Gambling Debt
Doar overbought on some bank stocks, expecting before he'd have to pay for them that their value would increase. But in the meantime, a bunch of people tried to sell the value tumbled and he was out of money. The same week Doar was hauled off March 22nd, Wall Street experienced its first panic. Hamilton had to calm the markets by throwing the US treasury into the marketplace,. Backing up the US government stocks and bonds and stabilizing the economy.
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