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Strikes
12 day transit worker strike shuts down NYC subway -
Period: to
The Good 'Ol Days Time Period
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Nationwide protests
Nationwide protests against the Vietnam war are staged in San Fransico, Chicago, Boston, Philidelphia, and Washington -
Minimum Raise
Coverage of minimum wage extended 30percent to 41 million workers, raised from $1.25 to $1.40 -
Oil discovered
Oil is discovered at Prudhoe Bay in Alaska's North Slope -
Minimum Wage is raised
Minimum wage is raised from $1.40 to $1.60 -
Martin Luther King Jr.
Martin Luther King Jr. was assassinated in Memphis -
New President
Richard Nixon was elected as president -
Inflation
Inflation reaches 6.1 percent -
New Economic Policy
Nixon announces "New Economic Policy" including 90-day freeze on wages, prices, and rents. He also restricted gold out flows -
Tax Cut
President Nixon signs a $25 billion tax cut -
Steel Producers limit exports
Japanese and European steel producers promise to limit exports to the US voluntarily for the next two years -
Devalued dollar
Dolar is devalued by 10% -
Minimum wage raised
Minimum wage is raised from $1.60 to $2.20 -
Oil prices raise
Arab oil-producing states substantially raise posted price of crude oil -
New President
Nixon resigns because of Watergate scadal and Ford becomes president -
Bank Failure
Franklin National Bank declares insolvent; largest bank failure in US history -
Minimum wage raised
Minimum wage raised from $2.00 to $2.10 -
Tax Reduction
Ford proposes substantial tax reduction to stimulate spending -
Tax Bill
President Ford signs a $22.8 billion tax bill -
Minimum Wage Raised
Minimum wage raised from $2.10 to $2.30 -
Bank Failure
American Bank & Trust company fails, the fourth largest banking default ever -
Minimum wage raised
Minimum wage raised to $3.35 per hour -
Japan
Japn agrees to some opening of its domestic market to US products