The Fire Last Time in Lower Manhattan (November/December 2001 | Volume: 52, Issue: 8)

The Fire Last Time in Lower Manhattan

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Authors: Nathan Ward

Historic Era: Era 7: The Emergence of Modern America (1890-1930)

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November/December 2001 | Volume 52, Issue 8

If you go downtown in Manhattan to the offices of the old J. P. Morgan firm at the corner of Wall and Broad, you’ll see the pocked-marble scars of the first blow that terrorists struck at America’s financial heart, the Wall Street bombing of 1920. The country recovered amazingly well from that outrage, although no one was ever brought to justice for the crime, which was, until the Oklahoma City devastation, the most deadly terrorist attack in American history. On the very next day following the explosion, the Stock Exchange and curb trading resumed, however shakily. “Like a strong man who sticks to the line after binding up his wounds and sewing on his wound stripes,” reported the New York Sun, “Wall Street, from its lowly office boy to its most stately financier, went to work yesterday morning with head up and teeth set, determined to show the world that business will proceed as usual despite bombs.”

At noon on the day after the attack, September 17, New Yorkers came by the thousands to the bomb scene to show their defiance and exorcise their fears. An event honoring “Constitution Day,” the 133rd anniversary of the document’s adoption, had been previously scheduled for that day in the area near the George Washington statue, which was surprisingly undamaged by the blast. The small celebration swelled into one of the largest gatherings in Wall Street’s history. The crowd sang “The Star-Spangled Banner” and listened to speakers defy the nameless radicals responsible for the bomb.

Twenty-four hours before, just after noon on September 16, 1920, a horse cart filled with dynamite and sash weights had exploded in front of the Assay Office, near the intersection of Wall and Broad, killing 30 people instantly and injuring about 300 others. (Eventually, some 40 would die.) The lunch hour had barely begun, and many of the victims were messengers crossing the street or clerks hit by shattered glass as they ate at their desks. The hundreds of pounds of sash weights acted like shrapnel. One piece of iron was blown to the thirtyfourth floor of the Equitable building; canopies burned and windows broke a quarter-mile away. “I saw the explosion, a column of smoke shoot up into the air and then saw people dropping all around me, some of them with their clothing afire,” the head of the Stock Exchange’s messengers, Charles P. Dougherty, told the Sun.

The Exchange closed within a minute of the explosion, for fear of the falling glass, which might have seriously injured the hundreds of traders caught inside if it had not been deflected by the building’s big silk curtains. “I first felt, rather than heard the explosion,” an eyewitness reporter for the Associated Press recalled. “I dodged into a convenient doorway to escape falling glass and reach a telephone and call the office. Looking down Wall Street later, I could see…a mushroom-shaped cloud of yellowish green smoke which mounted to the height of more than