(L to R) Curly Joe DeRita, Moe Howard, and Larry Fine
Archive for the 'Fincncial' Category
THE THREE STOOGES FOR U.S. SAVINGS BONDS
DRIVE-IN BANKING DEBUTED ON THIS DAY IN 1946
The Exchange National Bank of Chicago opened the country’s first drive-in banking service with ten teller windows on November 12, 1946. The windows were protected by bulletproof glass, and money and paperwork were exchanged through sliding drawers.
BANKERS’ PANIC BEGAN ON THIS DAY IN 1907
A large crowd gathers on Wall Street during the bank panic
The Panic of 1907 was a financial crisis that occurred when the New York Stock
Exchange fell close to 50% from its peak the previous year. This was during a
time of economic recession, resulting in numerous runs on banks and trust
companies. The 1907 panic eventually spread throughout the nation when
many state and local banks and businesses entered bankruptcy. The crisis
was triggered by the failed attempt in to corner the market on stock of the
United Copper Company and a loss of confidence among depositors.
ANTI-POVERTY BILL SIGNED ON THIS DAY IN 1964
President Johnson signing the Poverty Bill (Economic Opportunity Act).
In his January 1964 State of the Union address, President Lyndon B. Johnson announced a “War on Poverty” and pledged to correct the problem. His first
anti-poverty bill, passed through Congress as part of president Kennedy’s
legacy, and was signed into law on this day in 1964. The nearly $1 billion bill
provided money for job training centers, loans for students and farmers,
as well as other anti-poverty programs.
MOTTO ADOPTED ON THIS DAY IN 1956
"In God We Trust" was adopted as the official motto of the United States On
July 11, 1954, just one month after the phrase "under God" was incorporated
into the Pledge of Allegiance. The U.S. Congress enacted Public Law 84-140,
which required the motto on all coins and currency. The law was approved by
President Eisenhower on July 30, 1956, and the motto was progressively added
to paper money over a period from 1957 to 1966.
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