The idea for the painting was conceived by
Gustav Adolph Hagemann in 1881 while he was entertaining
C. F. Tietgen, who was posing for
Peder Severin Krøyer's portrait of him. Hagemann presented the idea of four monumental group portrait paintings for the newly refurbished Great Hall in
Børsen featuring leading representatives of Denmark's trade, industry, agriculture, and shipping sectors. The
Exchange Building was selected as the scene for the first of the paintings. The building had been purchased by
Grosserer-Societetet in 1857. Krøyer's price for painting it was
DKK 20,000, and the plan was to raise the money through contributions from the people seen in it. The price for one of the more prominent locations in the foreground was initially DKK 800, while the price for a location in the middle was DKK 500, and one in the background was DKK 300. It turned out to be more difficult than expected to raise the money, and things did not start to move until S. V. Isberg from
J. B. Suhr & Søn offered to pay DKK 5,000. This lowered the prices to DKK 500, DKK 300, and DKK 100. The painting was completed in 1895. The original plan of commissioning three more paintings was abandoned. Hagemann did, however, in 1901, commission
Men of Industry (), as a private commission for his home in
Bredgade. In April 2024, the painting was rescued from Børsen during
a severe fire. ==List of people portrayed in the painting==