On March 19, 1957 – Elvis Presley put a $1,000 down payment on a
$102,500, 13.8 acre mansion in Memphis, Tennessee and called it
"Graceland."
The mansion is the second-most-visited house in America after
the big white one on Pennsylvania Avenue.
WASHINGTON (TNND) — The newly formed Department of
Government Efficiency, led by Elon Musk (above) suggests
cutting penny production to save money.
Musk said…” the penny costs over 3 cents to make and cost
US taxpayers over $179 million in 2023.”
The U.S. Mint reported a loss of $179 million in 2023 from
penny production, having produced over 4.5 billion pennies
that year. This financial loss has sparked debates about
whether the penny should remain in circulation.
The first U.S. cent was produced in 1787 and has been the
lowest face-value physical unit of U.S. currency since the
abolition of the half-cent in 1857.
The 1787 "New Haven Restrike", probably produced at
the Scovill Mint in Waterbury, Connecticut.
On December 10, 1690, a failed attack on Quebec and subsequent
near-mutiny force the Massachusetts Bay Colony to issue the
first paper currency in the history of the Western Hemisphere.
Black Tuesday hit Wall Street on October 29, 1929 as investors
trade 16,410,030 shares on the New York Stock Exchange in a
single day. Billions of dollars were lost, wiping out thousands
of investors, and stock tickers ran hours behind because the
machinery could not handle the tremendous volume of trading.
In the aftermath of Black Tuesday, America and the rest of the industrialized world spiraled downward into the Great
Depression.
Crowd gathering on Wall Street after the 1929 crash.
Overall Price index on Wall Street from just before the
crash in 1929 to 1932 when the price bottomed out.
On September 2, 1969, America’s first automatic teller machine
(ATM) made its public debut, dispensing cash to customers at
Chemical Bank in Rockville Centre, New York. ATMs went on
to revolutionize the banking industry, eliminating the need to
visit a bank to conduct basic financial transactions.
By the 1980s, these money machines had become widely
popular and handled many of the functions previously
performed by human tellers, such as check deposits and
money transfers between accounts. Today, ATMs are as
indispensable to most people as cell phones and e-mail.
Sir Thomas Bland (center) unveiled the first ATM by
drawing back a curtain, and actor Reg Varney (center)
made the first cash withdrawal.
