Captain's Quarters

[JD400]

This Day in Financial History. . . .
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Learn what happened in business in today’s past


February 03:

1964: A direct feed to the stock ticker at the New York Stock Exchange is extended overseas for the first time, as Switzerland gets a real-time link to follow share prices in New York.

"Today in NYSE History," at www.nyse.com/about/TodayInNYSE.html

1913: Can you hear your wallet screaming? Today is the birthday of the Federal income tax, as the states ratify the 16th Amendment to the U.S. Constitution. It reads in its entirety: "The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration." The 16th Amendment overturns Article I, Section 9 of the Constitution, which had expressly forbidden a general income tax.

http://www.archives.gov/national_archives_experience/charters/constitution_amendments_11-27.htmlhttp://www.archives.gov/national_archives_experience/charters/constitution.htmlhttp://www.usconstitution.net/constamnotes.html#Am16