Monthly Archives: April 2014
326.HOW DID THE STOCK EXCHANGE START?
Many millions of people — possibly half the population of the United States — have a personal interest in what happens on the stock exchange. Some are directly concerned because they are part owners of companies through stock; others are holders of government and other listed securities; and yet another group are holders of insurance policies and savings bank accounts, since banks and insurance companies invest much of their assets in listed securities.
A stock exchange is a market for the purchase and sale of securities, such as shares, stocks, and bonds. Such markets have existed for centuries. They had their beginnings in the regular meetings, usually in a coffeehouse or restaurant, of a few men who acted as intermediaries between buyers and sellers. They did this for a commission.
325.HOW DID OUR LAWS ORIGINATE?
The concept of justice, or law, comes into being as soon as any kind of social relationship is created. For example, Robinson Crusoe, living alone, had no need for laws. There was no one with whose rights he could interfere by exercising his own freedom of action. But as soon as his man Friday appeared, there was a chance of conflict between his rights and those of his servant. Law then became necessary.
The purpose of law is to set down and to make clear the social relationships among individuals and, between the individual and Society. It tries to give to each person as much liberty of action as fits in with the liberty of others.
324.HOW DID HOSPITALS BEGIN?
The problem of caring for the weak and sick members of society has existed from the very earliest times. But the idea of hospitals is a new one in the history of man.
The Greeks, for instance, had no public institutions for the sick. Some of their doctors maintained surgeries where they could carry on their work, but they were very small, and only one patient could be treated at a time. The Romans, in time of war, established infirmaries, which were used to treat sick and injured soldiers. Later on, infirmaries were founded in the larger cities and were supported out of public funds.
