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Period: to
Janruary 1, 1900 through December 31, 2010
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The Gold Standard Act
President William McKinley signed the Gold Standard Act, which established gold as the sole basis for redeeming paper currency. The act halted the practice of bimetallism, which had allowed silver to also serve as a monetary standard. It set the value of gold at $20.67 an ounce and valued the dollar at 25.8 grains of gold. Read more: http://www.politico.com/story/2013/03/this-day-in-politics-88821.html#ixzz3UkGBFTBU -
Bank Panic of 1907
The Knickerbocker Trust was unable to receive any financial support from other financial institutions to save itself from failure, the public started to fear that the banking and trust industries were experiencing liquidity issues and thus starting to perform bank runs. -
Ford Introduces the Model-T
Ford introduced the ford model T on Aug 12 1908 and the only colors grey, green, blue, and red the only color that was not made was the color black. -
16th Admenment
This amendment exempted income taxes from the constitutional requirements regarding direct taxes, after income taxes on rents, dividends, and interest were ruled to be direct taxes in the court case of Pollock v. Farmers' Loan & Trust Co. -
The Assembly Line
Henry Ford installs the first moving assembly line for the mass production of an entire automobile. His innovation reduced the time it took to build a car from more than 12 hours to two hours and 30 minutes. -
U.S. Entry in WW1
President Woodrow Wilson went before a joint session of Congress to request a declaration of war against Germany. Wilson cited Germany’s violation of its pledge to suspend unrestricted submarine warfare in the North Atlantic and the Mediterranean, as well as its attempts to entice Mexico into an alliance against the United States, as his reasons for declaring war. -
The Roaring Twenties
During the 1920s, many Americans had extra money to spend, and they spent it on consumer goods such as ready-to-wear clothes and home appliances like electric refrigerators. In particular, they bought radios. -
Buying on Credit
"Buy Now, Pay Later" became the credo of many middle class Americans of the 1920s. For the single-income family, all these new conveniences were impossible to afford at once. But retailers wanted the consumer to have it all. Department stores opened up generous Lines of Credit for those who could not pay up front but could demonstrate the ability to pay in the future. -
Stock Market Crash of 1929
This date is known as Black Tuesday. When the stock market crashed it marked the start of the Great Depression. It was caused by people selling their stocks. -
Unemployment
At the worst point in the Great Depression years, unemployment rates in the United States reached almost 25%,. More than 11 million people looking for work. -
Bank Holiday
Banking transactions were suspended across the nation except for making change. During this period, Roosevelt presented the new Congress with the Emergency Banking Act. The law empowered the President through the Treasury Department to reopen banks that were solvent and assist those that were not. -
Social Security Act
Provided for the general welfare by establishing a system of Federal old-age benefits, and by enabling the several States to make more adequate provision for aged persons, blind persons, dependent and crippled children, maternal and child welfare, public health, and the administration of their unemployment, -
American Invovlement in WWll
Once World War II began, many jobs were created, and the American Economy boomed.The reason that the United States got out of the Great Depression during World War 2 is because it sparked manufacturing for America. -
Pearl Harbor
The attack on Pearl Harbor was a surprise military strike conducted by the Imperial Japanese Navy against the United States naval base at Pearl Harbor, Hawaii. The attack led to the United States' entry into World War II. -
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. -
The Cold War
a period of tension between the United States and the Soviet Union, drastically altered life for Americans. While the battle against communist subversion raged internationally throughout the 1940s and 1950s. -
The Korean War
The Korean War was a war between North and South Korea, in which a United Nations force led by the United States of America fought for the South, and China fought for the North, which was also assisted by the Soviet Union. The war arose from the division of Korea at the end of World War II and from the global tensions of the Cold War that developed immediately afterwards. -
Recession of 1953
In the United States the Recession of 1953 began in the second quarter of 1953 and lasted until the first quarter of 1954. The total recession cost roughly $56 billion. -
Tax Reduction Act
The Tax Reduction Act, was a bipartisan tax cut bill signed by President Lyndon Johnson on February 26, 1964. Individual income tax rates were cut across the board by approximately 20%. In addition to individual income tax cuts, the act slightly reduced corporate tax rates and introduced a minimum standard deduction.[1] -
Colored TVs
Color television had its beginnings in the late 1940s alongside black and white television. It was not a commercially viable until the early 1950s. At that time, two competing color mechanisms were being championed separately by CBS and RCA (which at the time was affiliated with NBC). Eventually, CBS dropped their own color technology, which was incompatible with existing black and white sets. During the early 1960s color television grew at an amazing pace, especially on NBC, culminating in the -
Medicare and Medicaid are Created
They provide federal health insurance for citizens over 65 and poor citizens. -
Arab- Israeli War
n 1973 OPEC stopped sending oil to America in response to America's role in the Yom Kippur War. This precipitated a massive oil shortage in the United States. The 1973 oil shock forced Americans and their government to seriously consider their energy security for the first time, and is still cited today to advocate change in energy policy. -
Microsoft Created
Microsoft Corporation is an American multinational corporation headquartered in Redmond, Washington, that develops, manufactures, licenses, supports and sells computer software, consumer electronics and personal computers and services. -
Tax Reform Act of 1976
President Ford signed the Tax Reform Act of 1976, increasing the standard reduction. -
Rubik's Cube
Rubik's Cube is a 3-D combination puzzle. As of January 2009, 350 million cubes had been sold worldwide making it the world's top-selling puzzle game. It is widely considered to be the world's best-selling toy. -
Thriller
The album Thriller, by Michael Jackson was releases and the most sold album of all time. -
Black Monday
Black Monday occured on Wall Street. The Dow Jones Industrial Average fell 508 points, the second largest percentage and point collapse in history. The definite cause of the collapse would remain a point of debate among economists. -
Video Games
Nintendo releases the NES game Super Mario Bros. in North America. It sells 17.28 million copies, making it one of the best-selling stand-alone video games of all time. -
Home Alone
The blockbuster comedy, Home Alone was the most profitable movie in 1990, with $285,761,243. -
NAFTA
The North American Free Trade Agreement is an agreement signed by Canada, Mexico, and the United States, creating a trilateral rules-based trade bloc in North America. -
George Bush Tax Cuts
Before the tax cuts, the highest marginal income tax rate was 39.6 percent. After the cuts, the highest rate was 35 percent. -
TARP
The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase assets and equity from financial institutions to strengthen its financial sector. -
ARRA
American Recovery and Reinvestment Act of 2009: The primary objective for ARRA was to save and create jobs almost immediately. Secondary objectives were to provide temporary relief programs for those most impacted by the recession and invest in infrastructure, education, health, and renewable energy. -
ObamaCare
The ACA was signed into law to reform the health care industry by President Barack Obama on March 23, 2010 and upheld by the Supreme Court on June 28, 2012. ObamaCare’s goal is to give more Americans access to affordable, quality health insurance and to reduce the growth in U.S. health care spending. -
Financial Regulation Bill
The massive bill establishes an independent consumer bureau within the Federal Reserve to protect borrowers against abuses in mortgage, credit card and some other types of lending. -
Iphone 6 Release
Increased sales of Apple's iPhone 6 is having an added benefit for the company that makes the device. Hon Hai Precision posted a record profit for the fourth quarter. Bloomberg's Rosalind Chin reports on "Trending Business."
