Leonard E Stewart (born 1913)

In 1913, in the year that Leonard E Stewart 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.

In 1939, in May, Disney's Snow White and the Seven Dwarfs, the first full-length animated film, reached a total international gross of $6.5 million which made it (to then) the most successful sound film of all time. First released in December 1937, it was originally dubbed "Disney's Folly" but the premiere received a standing ovation from the audience. At the 11th Academy Awards in February 1939, Walt Disney won an Academy Honorary Award - a full-size Oscar statuette and seven miniature ones - for Snow White.

In 1959, on August 8th, Hawaii became the 50th state of the United States. The US flag was changed to show 50 stars.

In 1969, one hundred countries, along with the United States and the Soviet Union signed the nuclear nonproliferation treaty (NPT). It called for stopping the spread of nuclear weapons, the peaceful use of nuclear energy, and the goal of nuclear disarmament.

In 1987, on October 19th, stock exchanges around the world crashed. Beginning in Hong Kong then spreading to Europe, the crash then hit the United States. It was called Black Monday. The Dow Jones fell 508 points to 1,738.74 (22.61%).