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Period: to
Economics Hundred Years timeline- Last Name
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Gold Standard Act
Signed by President William McKinley and established gold as the only standard for redeeming paper money. -
Knickerbocker Crisis
The New York Stock Exchange falls 50% from its peak of the year before. Also called "Panic of 1907". -
Aldrich-Vreeland Act
Passed in response to the Panic of 1907. It researched banks and the economy in North America and Europe. -
16th Amendment
The 16th amendment allows the Congress to levy an income tax without apportioning it among the states or basing it on the United States Census. It also exempted income taxes from the constitutional requirements regarding direct taxes. -
Federal Reserve Act
Act of Congress signed by President Woodrow Wilson that created and established the Federal Reserve System. -
New York Stock and Exchange Board established
A group of New York brokers establish the New York Stock and Exchange Board. Today it is known as the New York Stock Exchange. (NYSE) -
Prohibition
All alcohol in the US was banned. Smuggling and selling alcohol became very popular. -
Stock Market Crash
The plummeting stock prices led to losses between 1829 and 1831 of an estimated $50 billion and started the worst American depression in the nation's history. -
Banking Act
Passed to prohibit commercial banks from engaging in the investment business. -
Omnibus Budget Reconciliation Act
This act was signed into law by President Bill Clinton. The Act created a new bracket of 36% for income above $115,000, and 39.6% for income above $250,000. -
Social Security Act
This provided people with old-age insurance, unemployment compensation, and aid to the disabled families with children. -
President Gets Salary
The NYSE starts paying the president a salary. (David Clarkson earns $2,000 a year) -
Silver Purchasing
The United States purchased silver from Mexico. It stabilized peso and gave Mexico a stronger economy. -
International Bank for Reconstruction and Development
The International Monetary Fund (IMF) and the International Bank for Reconstruction and Development were created by delegates from all 45 Allied nations in a conference. -
United Nations Loan
United Nations recieves a $65 million loan from President Harry Truman to build their headquarters in New York City. -
Tax Deadline
Tax deadline for filing income tax changed from March 15 to April 15. -
Disneyland Opens
The $17 million themepark opens in Anaheim, California. Walt Disney World was opened in Orlando, Florida on October 1, 1971. -
Bank Holding Company Act
This act regulates the actions of bank holding companies. It also prohibited bank holding companies headquartered in one state from acquiring a bank in another state. -
Trading Confederate securities
The trading of confederate securities is banned in response of the Civil War. -
United States embargo against Cuba
The US placed an embargo on exports to Cuba except for food and medicine after Cuba nationalized American-owned Cuban oil refineries without compensation. -
ADB
The vision was of a financial institution that would be Asian in character and foster economic growth and cooperation in the region. -
Savings Bonds
6% interest rate is put on all outstanding and new savings bonds in the US. -
Microsoft
The biggest American electronic corporation was founded by Bill Gates and Paul Allen. -
Tax Reform Act
Signed by President Gerald Ford and increased the percentage of standard deduction. -
Economy Tax Recovery Act
Act to encourage economic growth through reductions in individual income tax rates, the expensing of depreciable property, incentives for small businesses, and incentives for savings, and for other purposes. -
Firearms Owners Protection Act
Intended to loosen restrictions on gun sales were the reopening of interstate sales of long guns on a limited basis, legalization of ammunition shipments through the U.S. Postal Service, removal of the requirement for record keeping on sales of non-armor-piercing ammunition, and federal protection of transportation of firearms through states where possession of those firearms would otherwise be illegal. -
Black Monday
The second worst stock market crash in history. Stock markets around the world decreased a huge value in a short time. -
Omnibus Budget Reconciliation Act
An act that dfferentiated incomes and required higher paid citizens to pay more taxes. -
Federal Interest Rate
The federal reserve interest rate increased to prevent inflattion. Increased from 3% to 6%. -
Hurricane Fran
The hurricane caused vast damage to the US, Overall, Fran was attributed to $3.2 billion (1996 USD) in damage. -
Embassy Bombing
Many terroist attacks in two East African cities. Immediate changes included a $42 million grant targeted specifically towards Kenyan victims. -
Euro
The Euro came into existence at midnight. The currency used in the European Union. -
Major Drop Caused by 9/11 Attacks
The World Trade Center terrorist attacks caused economic troubles. September 11, 2001 was one of the worst single-day point and percentage drop in history.
