Merchants' Exchange Building - Philadelphia, PA
by Susan Rissi Tregoning
Title
Merchants' Exchange Building - Philadelphia, PA
Artist
Susan Rissi Tregoning
Medium
Photograph - Photography
Description
The Merchants' Exchange Building, or Philadelphia Exchange, was constructed from 1832 to 1834 on a triangular plot of land bordered by Dock Street, Third Street, and Walnut Streets in Philadelphia, Pennsylvania.
Considered a significant building to 19th Century Philadelphia history, it functioned as a commercial and financial hub and a post office. Before the building was constructed, merchants would hold meetings in small coffee houses or taverns near the Delaware Riverfront. However, by 1831, it was deemed necessary to have a central location for business transactions and negotiations. Once completed, the Merchants' Exchange quickly became the financial center of Philadelphia, hosting Philadelphia's Board of Trade, the Philadelphia Stock Exchange, commercial houses, and marine insurance companies. The United States Post Office was the first in the country to sell stamps.
This grand office building exemplifies the Greek Revival style, with its lantern or cupola inspired by the Choragic Monument of Lysicrates. It was designed by architect and civil engineer William Strickland, who was instrumental in establishing the Greek Revival movement. Greek Revival is considered the first architectural style unique to the United States, and it was distinctive from previous styles like Georgian or Federal due to its commitment to archaeological accuracy in utilizing classical orders. At the same time, the principles of Greek democracy appealed to the American people. Strickland has two other surviving buildings in the park, the Second Bank of the United States and the Independence Hall Clock Tower.
In 1952, the National Park Service acquired ownership of the building and began preserving and restoring the structure. The building was granted the status of a National Historic Landmark in 2001. It currently functions as the headquarters for the Independence National Historical Park.
Copyright 2023 Susan Rissi Tregoning
Uploaded
July 15th, 2023
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