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On this day the Gold Standard act is ratified placing the U.S. currency on the gold standard.
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Inventors Wilbur and Orville Wright suceed in the first flight of a plane on this date. This revolutionized the way Americans transported themselves.
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A financial panic occurs in the bussiness world creating the deprssion of 1907
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The 16th amendment is passed allowing the U.S. Federal Governmet treasury to impose an income tax.
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The National Park Service is offically created when President Woodrow Wilson signs the bill into affect. The mission is to presserve wildlife, historic sities and natrual beauty as well as more.
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Four days after Woodrow Wilson gives the go ahead. Congress declares war on Germany joining the allies in World War 1.
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The American Professional Football Leauge is formed. There are 11 teams with Jim Thorpe as president. Soon after the name would be swithced to the /national Football Leauge.
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The 1st winter olympics is held in the French alps. France and 16 nations sent atheletes to participate. America won 4. Since this year the Winter Olympic's have been held besides during World War 2.
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Postwar Prosperity is ended with the stock market crash of 1929. Plummeting stock prices led loses from 1929 to 1931 of over 50 billion creating the worse depression America has ever faced. The Great Depression.
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Ecavation work starts on the empire state bulding on this date. The bulding took 24.7 million dollars to make and emplyed 3,400 workers to construct it. It was the tsllest bulding in the world at this time and gave home for many office workers.
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The state of Nevada legalizes gambling. Nevada is home to many Casinos and is a large tourist attraction mostly centered in Las Vegas
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The Social Security Act is signd by FDR as part of the New Deal legislation. Workers and emplyorers started paying in to the system the same year at a rate of 2% of their first $3000 earned.
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The U.S government approves selling surplus items to Great Britian. The war materials include guns, gear and nessacary war items.
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The Truman Doctrine is announced to the U.S. Congres. When it passed it would grant $400 milliom to Turkey and Greece in aid to battle communist terrosim. Hand outs like they caused many nations to owe America significant amounts of cash.
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Marshal spoke with Truman after visiting Europe and persuaded him to ask congress for money to spread across Europe to rebulid to prevent these nations from going Communist. Truman asked for 17 billion but got 13 billion. This led to the Economic Cooperation Act of 1948.
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North Korean Troops invade South Korea begininng a 3 year conflict. These actions lead to the involvment of the U.S. Navy and Air Force who were ordered under truman to retaliate on North Korea.
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The first color tv goes for sale on this day. This changed the way everyone seen detail on television an increased modern technology.
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The unemployment Assistance act is passed by congress. It established a needs test and made the federal government split the cost 50/50.
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President Johnson lowers income tax dramastically.It lowers at a range og 20-91% to 14-70% also Coroprate rates redue from 52 to 48%.
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Presdent Johnson signs the Economic Unemployment Act in order to combat poverty ad unemployment. The act also raises jobs for job training,adult education and loans to small bussinesses.
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Johnson signs the low income housing bill raising over 5 billion dollars for low income families. The bill also finances construction for over 1.7 million housing units and subside homes and rentals.
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The advertidment of ciggarettes is banned on television in the United States. The ban was a good idea in my opinion because it stops the persuasive advertisment that brings children and customers into use of ciggarettes.
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The vietnam war had just concluded and the U.S. economy was in bad shape. America entered a small recession and common problems began to occur. Certain problems were energy shortage,high unemployment rates and high inflation.
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Airline deregulation had a big sucess that caused the federal government to reduce and eliminate regulations inmany industries.
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Ronald Regan proposed tax cut legislations that are passed by both houses of the U.S. congress. This is the largest cut in history cutting taxes by 750 billion dollars threw the next 5 years.
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The highest unemplyment rate is recorded since 1940. The rate is at 10.4 by the end of november over 11 million people would be recorded as unemplyed
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Economic reports from the year before from the labor department indicate a employed growth of 3.8% the largest growth in 4 years on this date they recorded a unemployment rate of only 5.3 the lowest in 14 years.
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Iraqu invades its neighbor Kuwait causing the United States to get involved in the gulf war.
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The 27th amendment is finally passed after 202 years of its first proposal by James Madison. The amendment prevents the U.S. congress from giving itself a midterm or retroactive pay raise.
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The euro is introduced as a competitive tool to stem the power of the dollar. It also maximizes economic power of the European nations.
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The U.S. respond to 9/11 and commence their first attack on the war of terrorism on Al- Oaeda and the Taliban in Afghanistan. By the 12th of November the Taliban government is forced out of their captial.
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Hurricane Katrina strikes the Gulf Coast the main point of impact was the city of New Orleans where the leevees that support the city from being under sea level burst. Thousands of people were affected and billions of dollars in damage was caused.
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The U.S. congress signs legislations for a 700$ billion dollar bailout called the Emergency Economic Stabilization act. The teasury department assisted distressed wall street and banking businesses of the U.S. due to subprime mortgages, housing and banking crises caused from speculation an more from wall st firms.
