Sahara, Western Map for GRANT, The NYSE closed for 10 days after Jay Cooke & Company, a Philadelphia bank firm, failed due to speculation on railroad stocks. The financial panic that gripped the nation exposed corruption throughout the Grant presidency and carried on into future presidential administrations. Many of Grant’s appointees were involved in schemes to bilk investors of money in securities fraud. The Grant presidency established the linkage between the economic welfare of the nation and the perceived effect the presidency could have on the economy with foreign policy, legislation, and appointees. Late 19th century. Increasingly in the last third of the 19th century, big-business interests played a stronger role in both politics and Wall Street as the NYSE area was then known. National news companies like the Hearst empire were quick to establish this link in the eyes of the American public and Wall Street became a common phrase. Sahara, Western Map 2016.