Newsreel Footage of Address to New York Stock Exchange

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Martin, William McChesney. Newsreel Footage of Address to New York Stock Exchange 1938, https://fraser.stlouisfed.org/video/1357, accessed on May 8, 2021.

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  • 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.]

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