Wall Street has a history far richer than the Hunts' attempt to corner the silver market and the development of the "junk bond." Walter Werner and Steven Smith explore the relationship between the securities markets and the historic development of the American economy in Wall Street, emphasizing the importance of the period 1790 through 1840. The book focuses on the corporate response to the capital needs of the developing economy, and the role of the securities markets in mobilizing and allocating that capital.

Werner and Smith argue that a long view of our corporate history...