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Francis Welters 1901 - 1985

Francis Welters of Newberry, Luce County, Michigan was born on September 21, 1901, and died at age 83 years old in May 1985.

Francis Welters

Newberry, Luce County, Michigan 49868

September 21, 1901

May 1985

Male

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Francis Welters Francis Welters (1901 - 1985)

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Francis Welters' History: 1901 - 1985

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09/21

1901

Birthday

September 21, 1901

Birthdate

Unknown

Birthplace

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05/dd

1985

Death

May 1985

Death date

Unknown
Cause of death

Unknown
Death location

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Francis Welters lived 5 years longer than the average family member when died at the age of 83.

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Francis Welters lived 5 years longer than the average family member when died at the age of 83.

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In 1901, in the year that Francis Welters was born, John Pierpont "J. P." Morgan created U.S. Steel. J.P. Morgan was an American banker and financier who dominated U.S. business at this time. He had previously overseen the creation of General Electric, as well as International Harvester and AT&T. He has been referred to as America's greatest banker. U.S. Steel was the first billion dollar company in the world, worth $1.4 billion in 1901.

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In 1913, he was only 12 years old when 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.

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Francis Welters' Family Tree & Friends

Francis Welters' Family Tree

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Francis Welters Sep 21, 1901 - May 1985

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