The first telegraph line was introduced in the United States in 1844, connecting Washington, D.C., and Baltimore, Maryland. The first message sent via telegraph was “What hath God wrought,” an ominous quote from the Bible. The invention of the telegraph, credited to Samuel Morse, revolutionized long-distance communication and had a significant impact on the financial industry. One contemporary proclaimed that “distance and time have been annihilated”.
It allowed for faster transmission of information, including stock prices and financial news, which was essential for the functioning of the growing financial markets. The success of the initial telegraph line led to the rapid expansion of the telegraph network, connecting cities and countries around the world, and transforming the way financial markets operated. The Ticker, for example, was made possible by the telegraph.
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