politics ms. meiers

By sebajp
  • Period: to

    important events

  • A financial panic

    A finacial panic began as the stock market began to fall. The market reached a low point on November 15, 1907 when the average was 39% lower than on March 13.

  • The Lincoln one-cent coin

    The Lincoln one-cent coin was issued to replace the Indian Head penny. It was the first circulating coin to feature a real person and the first to feature a President of the United States.

  • 16th amendment, income tax

    The Sixteenth Amendment to the Constitution, authorizing federal income tax, was ratified.

  • income tax

    The federal income tax on individuals and corporations went into effect.

  • new central bank

    President Wilson signed the Federal Reserve Act into law, creating a new central bank.

  • Trading with Enemy Act

    October 6, 1917 - The Trading with the Enemy Act gave the president the ability to regulate trade during times of war. The U.S. Customs Service was charged with enforcing the act.

  • Prohibition went into effect.

    Prohibition went into effect.

  • modern sized currency notes

    The first modern sized currency notes were issued, bearing the series date 1928.

  • stock market panic

    A stock market panic occurred, foreshadowing the crash that would happen five days later.

  • Stock Market Crached (Black Tuesday)

    Black Tuesday occurred, a massive stock market crash that signaled the beginning of the Great Depression. At the time the crash was considered to be a cause of the Great Depression but it is now generally considered to have been a symptom.

  • ending of the prohibition

    The Senate voted to repeal the 18th Amendment of the Constitution, ending prohibition.

  • National Bank Holiday

    President Roosevelt declared a four day national bank holiday to prevent anyone from exporting or hoarding gold or silver. Banks did not necessarily reopen on March 10 because the Emergency Banking Act passed on March 9 required federal inspectors to declare a bank financially secure before it could reopen.

  • Excess Profits Tax Act of 1940.

    President Roosevelt signed the Excess Profits Tax Act of 1940. The law, created as a wartime provision, heavily taxed corporations when they reached a certain profit threshold.

  • Start of WWII

    The Japanese bombed Pearl Harbor, forcing the United States into World War II.

  • Dime introduced

    The Roosevelt Dime was introduced on the birthday of the late president.

  • Secret service protection

    Congress enacted legislation that permanently authorized Secret Service protection of the president, his immediate family, the president-elect, and the vice president, if he wished.

  • bank holiday

    The Bank Holding Company Act was passed, limiting what other businesses and securities bank holding companies could purchase.

  • office of budget

    The Office of Budget and Finance was established.

  • Smithsonian Agreement

    December 1, 1971 - The Smithsonian Agreement ended the fixed exchange rates that had been enforced since the Bretton-Woods Conference. It also ended import surcharges.

  • Secret Service women

    The Secret Service appointed five women Special Agents. It was the first time a woman had ever held that rank.

  • President Ford lifts the 40-year ban

    President Ford lifts the 40-year ban, enacted in 1933, on gold ownership by U.S. citizens.

  • 1040EZ

    The simplified Form 1040EZ was accepted for the first time by the IRS.

  • Black Monday

    Black Monday occurred on Wall Street. The Dow Jones Industrial Average fell 508 points, the second largest percentage and point collapse in history. The definite causes of the collapse remain a point of debate among economists.

  • Fire in the Cash Room

    A fire started on the Treasury roof that burned out the fourth and fifth floors of the North Wing. Water and smoke damaged the entire building, closing it for one week. The Cash Room suffered heavy damage, with two feet of water pooled on its floor. Investigations later proved that the fire was accidentally started by a contractor working on the roof using a propane torch.

  • ATF

    Alcohol and Tobacco Tax and Trade Bureau was established as a new bureau in the Treasury Department pursuant to the Homeland Security Act of 2002. The new bureau assumed the regulatory and revenue collection functions the ATF. The ATF was transferred to the Justice Department.

  • Executive Office for Terrorist Financing

    Secretary John W. Snow established the Executive Office for Terrorist Financing and Financial Crimes.