ABSTRACT
The Wall Street that emerged from the war was young and vibrant, with a limited but fast-growing menu of activities. Wall Street was also the domain of a small, somewhat intimate group of players, many of them well respected members of New York and American society. The man who attracted the mob—William Duer—no doubt shuddered at the call of his name. Once Macomb had followed Duer's advice and bought the Bank of New York paper, Duer, who already held a considerable amount of the paper himself, was able to sell it at a higher price. Named after a popular buttonwood tree at 68 Wall Street, the agreement stipulated in writing that the assembled brokers would trade only with each other. With the market now limited to just the recognized market participants, the Buttonwood Group moved to a private room at the Tontine Coffee House on Wall Street to conduct business.
