|
|
Article: Commodity Exchanges
- Article from:
- Dictionary of American History
- Author:
CopyrightCOPYRIGHT 2003 The Gale Group Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
COMMODITY EXCHANGES
COMMODITY EXCHANGES.
The enormous expansion of markets after 1850 required the formation of organizations that could handle exchanges of commodities on a large scale. The buyers and sellers of commodities in every city and market of large commercial importance formed boards of trade, also known as chambers of commerce. In 1848, buyers and sellers of commodities organized the Chicago Board of Trade. The New York Produce Exchange was organized two years later. By 1854 the Merchants Exchange of Saint Louis had the ...