Title:

Newsreel Footage of Address to New York Stock Exchange

Diversity is critical to the Federal Reserve, and we are firmly committed to fostering a diverse and inclusive culture throughout the Federal Reserve System. Collections within FRASER contain historical language, content, and descriptions that reflect the time period within which they were created and the views of their creators. Certain collections contain objectionable content—for example, discriminatory or biased language used to refer to racial, ethnic, and cultural groups. These viewpoints and attitudes are inconsistent with our values, but the original descriptions are retained to ensure that they are not erased from the historical record.
Save & Share
less

Martin, William McChesney. Newsreel Footage of Address to New York Stock Exchange 1938, https://fraser.stlouisfed.org/video/1357, accessed on March 19, 2024.

More Information
less

  • Paramount News: N.Y. Stock Exchange Gets Youngest Chief

Segment is approximately 1.5 minutes. There is no audio portion for some of the segment. Transcription below provided as a courtesy by FRASER staff.

[intro music] Narrator: New York Stock Exchange starts an experiment in modernization! Rules are simplified and a new, smaller Board of Governors welcomes the youngest chief the Exchange has had: William McChesney Martin, Jr. Martin: The most pressing need today is to start the flow of capital which turns the wheels of industry. The New York Stock Exchange plays a vital part in this process. Our duty is plain: We must do everything in our power to provide as safe and as efficient a market for the nation's securities as can be devised. I am sure, gentlemen, that we will all pledge ourselves to give our utmost efforts to accomplish this purpose. Narrator: Under its new 31-year-old chief, the Exchange looks forward to greater simplicity and efficiency. [Traders can be heard shouting in the background.] These motion pictures are the first ever made in the Stock Exchange. They take you to the very floor of the financial center of America. Actual trading is in progress. [Audio cuts out at minute 1:19, before the end of the clip.]

Copyright Not Evaluated (CNE)