SEPTEMBER ELECTIONS: 1796 Washington gives farewell address, making way for a two party system; 1995 Unabomber Manifesto shows up in print; 1929 Dow Peaks last time before crash
SEPTEMBER 19
191796 – Washington gives his Farewell Address,
and good freakin riddance, no offense. Love you, mean it, gotta go.
George Washington reluctantly served two terms for his fellow man, the first one simply because America needed a leader and the second one to bridge the gap between evolving political parties. Washington would be the only president to ever classify himself as non-partisan.
Now, the election of 1796 was looming, and America would have to figure out how to deal with two different political parties: the Federalists with incumbent Vice President John Adams and the Democratic-Republicans led in the campaign by former Secretary of State Thomas Jefferson and New York senator Aaron Burr.
The Federalists, who favored a strong central government and questioned Alexander Hamilton’s Bank of the United States, were popular in the northern states, especially New England states, believed in good relations with Britain, and came up with Jay’s Treaty, which encouraged trade with them. I cover it on my August 18th ep. And what, Many of those northern states, Connecticut, Delaware, New Jersey, New York, Rhode Island, Vermont and South Carolina the electors were chosen by state legislators, which meant that the party that controlled a state’s legislature controlled the selection of state’s electors. In this election, everyone ran alone. There were no running mates. Adams ran alone, and so did Jefferson and Burr, even though they were running for the same party.
Democratic-Republicans, who favored states rights, were popular in the rural American south, who by the by, hated Jay’s Treaty, just like the French hated it. The Democratic-Republicans didn’t care less about what the British wanted. For the election of 1796, Virginia, North Carolina, Maryland and Kentucky voters in each district were able to vote for one elector. Strict interpretation of Constitution was another trait of the Democratic-Republican party, so when Adams got the most votes overall with 71 for the Federalist, the Duke of Braintree was stuck working this gig with his arch-nemesis, the Apostle of the Constitution, Pen of the Revolution, Father of the Declaration of Independence and Sage of Monticello Long Tom Jefferson, who got 68 electoral votes.
Second place. According to the Constitution, which was written before these party lines existed, made it clear that #1 and #2 would have to spend the next four years figuring it out. Key word: four. Jefferson would oust his so-called boss in 1800, which I get into on my Dec 3 ep. Let me just say, that would never happen again in American history. Never, would a first and second be allowed to serve side by side coming from opposing parties.
If Washington had not refused a third term, and give it another four years, even the Father of His Country couldn’t resolve the differences of his children. No wonder he wanted to retire eight years earlier with his lovely wife Martha. But George had to do this, and he took it as far as he could, and even he couldn’t stop the Rise of the American Political Parties.
1881 – President Garfield dies
…from bullet wounds. On July 2nd of that year, Garfield was shot in a railroad waiting room. His shooter was Charles J. Guiteau, who was possibly suffering from syphilis at the time, causing mental instability. When he shot Garfield, Garfield exclaimed My God What s this? And Guiteau yelled I Did it !! I will go to jail for it. I’m a stalwart and Arthur will be President, referring to Chester Arthur. Oh good at least it’s nothing personal. Guiteau was apparently upset that Garfield had not selected him as Consul to Paris.
Garfield was taken to the White House for treatment, but back in those days, sterilization wasn’t a big issue. Doctors used unwashed fingers and unsterilized tools to remove the bullet. For 80 days Garfield remained alive, through the DC blistering heat. He held few cabinet meetings during this time, and VP Chester Arthur was acting president, although due to ambiguity in the constitution, his authority was often questioned.
Finally on September 19, he succumbed to his wounds. Garfield was buried in Cleveland Ohio, his birthplace. Guiteau was hanged in jail in 1882.
1968 – Chester Carlson passes away.
From Seattle, Carlson invented the process of electrophotography, which produced a dry copy rather than a wet-copy as was produced by the mimeograph process. Carlson’s process was subsequently renamed xerography, a term that literally means dry writing.
1876 – Melville Bissell patents the carpet sweeper. It had a central brush and rubber wheels, which was pretty new at the time. When Bissell died in 1889 in Grand Rapids, his wife Anna took over the company, becoming America’s first female corporate CEO. The Bissell Corporation is named after him to this day.
1995 — The Unabomber’s manifesto shows up in print
…in the new York Times and Washington Post. Ted Kaczynski was born on May 22, 1942 in Chicago Ill. He understood numbers better than just about anybody but couldn’t understand technology for some reason. This shouldn’t sound surprising, but Ted the Unabomber Kaczynski taught at UC Berkeley for a couple years before he quit, where no doubt he fit right in.
He moved a reclusive lifestyle in the woods of Montana, and between 1975 and 1995, Kaczynski mailed bombs to universities and airlines throughout America, killing three and injuring 23 more. In a letter to the Times and the Post, Kaszynski stated that the killings would stop if the paper printed his 35,000 word rant about the problems with modern technology and blah blah blah. Ted’s brother David read it and recognized his brother’s style of writing, and tipped him off to the FBI.
These days, he’s rotting at the Florence Federal Correctional Complex in Colorado.
1982—Hard to believe by today’s standards, but the New England Patriots get 5 first downs and 4 yards passing and 57 total yards, losing to the Jets 31-7. 2002 KC 1st base coach Tom Gamboa is attacked on the field by a father and son who are arrested and hopefully still in jail to this day. Freaks.
1929 — The Dow peaks for the last time until the crash.
So much for the Federal Reserve doing its function, which was to prevent collapses in the market. In 1920, the Fed raised the money supply to help bail Europe out of WW1 expenses.
When inflation resulted from this, the Fed raised interest rates, causing a recession and leaving the farming industry in a hole. In 1921 the Fed lowered ratites, leading to more inflation, and put a stop on that inflation in 1923 by tightening credit, then lowered the rate to the discount window, luring in banks to borrow new reserves.
On and on this went throughout the 20’s, As author Arthur Schlesinger pointed out in The Crisis of the Old Order, the US government encourages “tax policies that contributed to over-saving, monetary policies that were expansive when prices were rising and deflationary when prices began to fall, tariff policies that left foreign loans as the only prop for the export trade, and policies toward monopoly which fostered economic concentration, introduced rigidity into the markets and anaesthetized the price system.”
By this point, New York bankers were calling in 24-hour call loans, in which an investor had to dump their stock in the market so they could pay off the loans.
Naturally, the crash occurred no longer after that. To be continued.
SEPTEMBER 19
191796 – Washington gives his Farewell Address,
and good freakin riddance, no offense. Love you, mean it, gotta go.
George Washington reluctantly served two terms for his fellow man, the first one simply because America needed a leader and the second one to bridge the gap between evolving political parties. Washington would be the only president to ever classify himself as non-partisan.
Now, the election of 1796 was looming, and America would have to figure out how to deal with two different political parties: the Federalists with incumbent Vice President John Adams and the Democratic-Republicans led in the campaign by former Secretary of State Thomas Jefferson and New York senator Aaron Burr.
The Federalists, who favored a strong central government and questioned Alexander Hamilton’s Bank of the United States, were popular in the northern states, especially New England states, believed in good relations with Britain, and came up with Jay’s Treaty, which encouraged trade with them. I cover it on my August 18th ep. And what, Many of those northern states, Connecticut, Delaware, New Jersey, New York, Rhode Island, Vermont and South Carolina the electors were chosen by state legislators, which meant that the party that controlled a state’s legislature controlled the selection of state’s electors. In this election, everyone ran alone. There were no running mates. Adams ran alone, and so did Jefferson and Burr, even though they were running for the same party.
Democratic-Republicans, who favored states rights, were popular in the rural American south, who by the by, hated Jay’s Treaty, just like the French hated it. The Democratic-Republicans didn’t care less about what the British wanted. For the election of 1796, Virginia, North Carolina, Maryland and Kentucky voters in each district were able to vote for one elector. Strict interpretation of Constitution was another trait of the Democratic-Republican party, so when Adams got the most votes overall with 71 for the Federalist, the Duke of Braintree was stuck working this gig with his arch-nemesis, the Apostle of the Constitution, Pen of the Revolution, Father of the Declaration of Independence and Sage of Monticello Long Tom Jefferson, who got 68 electoral votes.
Second place. According to the Constitution, which was written before these party lines existed, made it clear that #1 and #2 would have to spend the next four years figuring it out. Key word: four. Jefferson would oust his so-called boss in 1800, which I get into on my Dec 3 ep. Let me just say, that would never happen again in American history. Never, would a first and second be allowed to serve side by side coming from opposing parties.
If Washington had not refused a third term, and give it another four years, even the Father of His Country couldn’t resolve the differences of his children. No wonder he wanted to retire eight years earlier with his lovely wife Martha. But George had to do this, and he took it as far as he could, and even he couldn’t stop the Rise of the American Political Parties.
1881 – President Garfield dies
…from bullet wounds. On July 2nd of that year, Garfield was shot in a railroad waiting room. His shooter was Charles J. Guiteau, who was possibly suffering from syphilis at the time, causing mental instability. When he shot Garfield, Garfield exclaimed My God What s this? And Guiteau yelled I Did it !! I will go to jail for it. I’m a stalwart and Arthur will be President, referring to Chester Arthur. Oh good at least it’s nothing personal. Guiteau was apparently upset that Garfield had not selected him as Consul to Paris.
Garfield was taken to the White House for treatment, but back in those days, sterilization wasn’t a big issue. Doctors used unwashed fingers and unsterilized tools to remove the bullet. For 80 days Garfield remained alive, through the DC blistering heat. He held few cabinet meetings during this time, and VP Chester Arthur was acting president, although due to ambiguity in the constitution, his authority was often questioned.
Finally on September 19, he succumbed to his wounds. Garfield was buried in Cleveland Ohio, his birthplace. Guiteau was hanged in jail in 1882.
1968 – Chester Carlson passes away.
From Seattle, Carlson invented the process of electrophotography, which produced a dry copy rather than a wet-copy as was produced by the mimeograph process. Carlson’s process was subsequently renamed xerography, a term that literally means dry writing.
1876 – Melville Bissell patents the carpet sweeper. It had a central brush and rubber wheels, which was pretty new at the time. When Bissell died in 1889 in Grand Rapids, his wife Anna took over the company, becoming America’s first female corporate CEO. The Bissell Corporation is named after him to this day.
1995 — The Unabomber’s manifesto shows up in print
…in the new York Times and Washington Post. Ted Kaczynski was born on May 22, 1942 in Chicago Ill. He understood numbers better than just about anybody but couldn’t understand technology for some reason. This shouldn’t sound surprising, but Ted the Unabomber Kaczynski taught at UC Berkeley for a couple years before he quit, where no doubt he fit right in.
He moved a reclusive lifestyle in the woods of Montana, and between 1975 and 1995, Kaczynski mailed bombs to universities and airlines throughout America, killing three and injuring 23 more. In a letter to the Times and the Post, Kaszynski stated that the killings would stop if the paper printed his 35,000 word rant about the problems with modern technology and blah blah blah. Ted’s brother David read it and recognized his brother’s style of writing, and tipped him off to the FBI.
These days, he’s rotting at the Florence Federal Correctional Complex in Colorado.
1982—Hard to believe by today’s standards, but the New England Patriots get 5 first downs and 4 yards passing and 57 total yards, losing to the Jets 31-7. 2002 KC 1st base coach Tom Gamboa is attacked on the field by a father and son who are arrested and hopefully still in jail to this day. Freaks.
1929 — The Dow peaks for the last time until the crash.
So much for the Federal Reserve doing its function, which was to prevent collapses in the market. In 1920, the Fed raised the money supply to help bail Europe out of WW1 expenses.
When inflation resulted from this, the Fed raised interest rates, causing a recession and leaving the farming industry in a hole. In 1921 the Fed lowered ratites, leading to more inflation, and put a stop on that inflation in 1923 by tightening credit, then lowered the rate to the discount window, luring in banks to borrow new reserves.
On and on this went throughout the 20’s, As author Arthur Schlesinger pointed out in The Crisis of the Old Order, the US government encourages “tax policies that contributed to over-saving, monetary policies that were expansive when prices were rising and deflationary when prices began to fall, tariff policies that left foreign loans as the only prop for the export trade, and policies toward monopoly which fostered economic concentration, introduced rigidity into the markets and anaesthetized the price system.”
By this point, New York bankers were calling in 24-hour call loans, in which an investor had to dump their stock in the market so they could pay off the loans.
Naturally, the crash occurred no longer after that. To be continued.