The angry crowd never got its hands on Duer, though tensions stayed high in New York for some time afterward. When President-Elect Washington began planning to move to New York, Duer and a friend selected and furnished the president’s home. He bought Bank of New York stock for their joint benefit, a signal that he expected it to rise in value. In 1817, they formalized the operation further, creating what’s today called the New York Stock Exchange. He received a brief released in 1798—after pleading with his friend Hamilton for help—to escape a yellow fever outbreak at the prison, but it was only a temporary reprieve.

Source: Forbes July 04, 2019 09:53 UTC