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At the onset of the Revolutionary War, there lay a vast tract of land from the upper Mohawk River to Lake Erie, that was thinly occupied by the Iroquois and virtually unknown to the colonists. Since the colonial charters of both Massachusetts and New York granted unlimited westward expansion, the claim to this tract was disputed.

In 1687-1688, the English divided the island into four administrative divisions based on natural features, called the North, South, and West divisions, as well as the 5100 acre (21 kmē) manorial estate of colonial governor Thomas Dongan in the central hills known as the "Lordship or Manner of Cassiltown." These divisions would later evolve into the four townships Northfield, Southfield, Westfield, and Castleton.

In 1670, the Indians ceded all claims to Staten Island to the English in a deed to Gov. Francis Lovelace. In 1671, in order to encourage an expansion of the Dutch settlements, the English resurveyed Oude Dorp (which became known as Old Town) and expanded the lots along the shore to the south. These lots were settled primarily by Dutch and became known as Nieuwe Dorp (meaning "New Village"), which later became anglicized as New Dorp.

Other cities, like Boston, Baltimore, and Philadelphia, had decent natural harbors, but New York's advantage over other cities of the Eastern Seaboard was that the Hudson River and the Erie Canal formed the only water-level route through the Appalachian Mountains.

The Black Thursday crash of the Exchange on October 24, 1929 and the sell-off panic which started on Black Tuesday, October 29, precipitated the Great Depression. In an effort to try to restore investor confidence, the Exchange unveiled a fifteen-point program aimed to upgrade protection for the investing public on October 31, 1938.