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Amsterdam was an early--London was an early stock exchange.
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So, we came kind of late
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in the United States to stock exchanges--
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1792 is kind of late in the world history.
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However, I think that the U.S.
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Actually features somewhat prominently in the history of stock exchanges
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because there was a New York Securities Law--1811--which
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became a model for securities law and which
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made the stock exchange in New York especially important.
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The 1811 Securities Law in New York
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established two important principles.
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The first one was that anybody can set up a corporation and