The Cotton Exchange was established in New Orleans, Louisiana, in 1871 on the corner of Carondelet and Gravier Streets. The New Orleans Cotton Exchange Building is a National Historic Landmark.
The Cotton Exchange was conceived and financed by a group of cotton merchants with support from bankers at a time when fully one-third of the entire production of cotton the United States was sent to New Orleans. The Exchange wanted to bring order to what ...
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The Cotton Exchange was established in New Orleans, Louisiana, in 1871 on the corner of Carondelet and Gravier Streets. The New Orleans Cotton Exchange Building is a National Historic Landmark.
The Cotton Exchange was conceived and financed by a group of cotton merchants with support from bankers at a time when fully one-third of the entire production of cotton the United States was sent to New Orleans. The Exchange wanted to bring order to what was a highly speculative and often erratic pricing system by providing a centralized trading office where people involved in the business could obtain information about market conditions and prices. As well as trading, the Exchange established standards for classification and facilitated payments between buyers and sellers.
The renowned French artist Edgar Degas painted the picture seen here of the Cotton Exchange in 1873 while visiting his mother's Louisiana relatives.
The Exchange enhanced New Orleans' position of prominence in the world...
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