Edward S Salenske (1913 - 2008)

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Summary

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Edward S Salenske Biography & Family History

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Birth

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Cause of death

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Obituary

Last Known Residence

Jeannette, Westmoreland County, Pennsylvania

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Education

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Gender

Male

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Timeline

1913 - In the year that Edward S Salenske was born, 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.

1915 - When he was only 2 years old, in May, the RMS Lusitania was sunk by a German torpedo. The Lusitania was a British passenger ship that was sailing from New York to Liverpool England. She sank in 18 minutes - 1,198 died and 761 survived. While travelers were the main casualty - and commodity - the Lusitania did carry wartime weapons. "Remember the Lusitania" became the rallying cry of World War 1.

1934 - By the time he was 21 years old, on June 6th, the U.S. Securities and Exchange Commission was formed as a response to the stock market crash of 1929 and the continuing Great Depression. Previously, the states regulated the offering and sales of stocks - called "blue sky" laws. They were largely ineffective. Roosevelt created a group (one member was Joseph Kennedy, father of the future President Kennedy) who knew Wall Street well and they defined the mission and operating mode for the SEC. The new organization had broad and stringent rules and oversight and restored public confidence in the stock market in the United States.

1938 - By the time he was 25 years old, on October 30th, a Sunday, The Mercury Theatre on the Air broadcast Orson Welles' special Halloween show The War of the World's. A clever take on H.G. Wells' novel, the show began with simulated "breaking news" of an invasion by Martians. Because of the realistic nature of the "news," there was a public outcry the next day, calling for regulation by the FCC. Although the current story is that many were fooled and panicked, in reality very few people were fooled. But the show made Orson Welles' career.

1993 - When he was 80 years old, on February 26th, a truck bomb exploded in the garage under the North Tower of the World Trade Center. While the bomb didn't do what was planned (collapse the North Tower into the South Tower), it did kill six people and injured thousands of people.

Edward S Salenske Family Tree

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Obituary

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Edward S Salenske died on February 10, 2008 at age 94. No cause of death has been listed. He was born on September 23, 1913. We are unaware of information about Edward's immediate family. We know that Edward S Salenske had been residing in Jeannette, Westmoreland County, Pennsylvania.

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