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The employment of telegraph has made the market break through the limit of time and space to some extent. You can almost get all kinds of commercial information about price and product and so on wherever the telegraph line reaches. the telegraph can be rapid and acurrate in information communicating,which strongly strengthened the connection of commodity maket as well as finacial maket between Chinese and foreign countries, and therefore has changed the way and features of finance and trading deeply. Thanks to the telegraph, the circle of finance and tading has shortened greatly; the domestic financial maket has deeply associated with the international one; New trading way such as intend system in which people orders beforehand by telegraph has come to the stage of the world history. These has caused a series of changes on city's economic structure. Thus has affected the modern urban economy a lot. The telegragh,along with the railway and the teamboat, promoted the formal forma