Bridget Dolan (1873 - 1949)
Bridget Dolan Biography
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Bridget Dolan Obituary
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1873 - 1949 World Events
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In 1873, in the year that Bridget Dolan was born, on September 18th, the New York stock market crash - due to the failure of a number of banks - began the Panic of 1873. After the boom following the Civil War, the Coinage Act of 1873 and other factors led to the market crash. Thus began the "Long Depression" - also called the "Great Depression" until the 1930's.
In 1885, she was merely 12 years old when on February 16th, the first Dow Jones Industrial Average was published by Charles Dow, who also founded the Wall Street Journal. The index was 62.76. It represented 12 stocks - American Cotton Oil, American Sugar, American Tobacco, Chicago Gas, Distilling & Cattle Feeding, General Electric, Laclede Gas, National Lead, North American, Tennessee Coal and Iron, U.S. Leather pfd. and U.S. Rubber.
In 1913, by the time she was 40 years old, ratified in February the 16th Amendment, establishing a Federal income tax, became law. Previously, customs duties (tariffs) and excise taxes were the primary sources of federal revenue. With the passage of the 16th Amendment, incomes of couples exceeding $4,000, as well as those of single persons earning $3,000 or more, were subject to a 1% Federal tax (that would be about $98,000 and $74,000 now). Rates rose to 7% for incomes over half a million dollars. Less than 1% of the population was subject to income tax.
In 1933, by the time she was 60 years old, on March 4th, Franklin Delano Roosevelt became the 32nd President of the United States. He was elected four times (equaled by no other President) and guided the United States through the Great Depression, the Dust Bowl, and World War 2. His wife was his cousin Eleanor Roosevelt (Teddy Roosevelt's niece) who President Truman called "First Lady of the World". Some of the major programs that survive from his presidency are the Securities and Exchange Commission, the Wagner Act (The National Labor Relations Act of 1935) , the Federal Deposit Insurance Corporation and Social Security.
In 1949, in the year of Bridget Dolan's passing, on April 4th, NATO (the North Atlantic Treaty Organization) was established. Twelve nations originally signed the North Atlantic Treaty - the United States, Great Britain, France, Belgium, the Netherlands, Denmark, Italy, Luxembourg, Norway, Iceland, Canada, and Portugal. Greece, Turkey, and West Germany later joined. Today, there are 26 nations in NATO.
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