Lester Wagner (1907 - 1977)

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Summary

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Lester Wagner Biography & Family History

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Last Known Residence

Easton, Northampton County, Pennsylvania

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Gender

Male

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Timeline

1907 - In the year that Lester Wagner was born, in October, over a 3 week period, the New York stock exchange fell almost 50% from the previous year's high mark. Public panic ensued and there were runs on banks since the U.S. was in the middle of a recession. J.P. Morgan offered his own fortune to back the banks and he was followed by other financiers. This temporarily shored up the banking system, stopping the immediate panic. All of this led to the creation of the Federal Reserve.

1918 - At the age of only 11 years old, Lester was alive when federal spending was $12.68 billion, unemployment was 1.4% and the cost of a first-class stamp was 3 cents.

1933 - At the age of 26 years old, Lester was alive when the day after being inaugurated, the new President, Franklin Roosevelt, declared a four-day bank holiday to stop people from withdrawing their money from shaky banks (the bank run). Within 5 days of his administration, the Emergency Banking Act was passed - reorganizing banks and closing insolvent ones. In his first 100 days, he asked Congress to repeal Prohibition (which they did), signed the Tennessee Valley Authority Act, signed legislation that paid commodity farmers to leave their fields fallow, thus ending surpluses and boosting prices, signed a bill that gave workers the right to unionize and bargain collectively for higher wages and better working conditions as well as suspending some antitrust laws and establishing a federally funded Public Works Administration, and won passage of 12 other major laws that helped the economy.

1960 - When he was 53 years old, on May 1st, an American CIA U-2 spy plane, piloted by Francis Gary Powers, was shot down by a surface-to-air missile over the Soviet Union. Powers ejected and survived but was captured. The U.S. claimed that the U-2 was a "weather plane" but Powers was convicted in the Soviet Union of espionage. He was released in 1962 after 1 year, 9 months and 10 days in prison.

1977 - In the year of Lester Wagner's passing, on May 25th, Star Wars premiered in theaters. Eventually, it became the highest-grossing film of all time - until E.T. surpassed it a few years later. It was an immediate hit with theatergoers.

Lester Wagner Family Tree

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Obituary

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Lester Wagner passed away in November 1977 at 69 years of age. There is no listed cause of death for Lester. He was born on November 25, 1907. We have no information about Lester's family or relationships. We know that Lester Wagner had been residing in Easton, Northampton County, Pennsylvania.

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