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Refresh this page to see various historical events that occurred during Paul's lifetime.
In 1907, in the year that Paul A Payro 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.
In 1935, when he was 28 years old, the BOI's name (the Bureau of Investigation) was changed to the FBI (Federal Bureau of Investigation) and it officially became a separate agency with the Department of Justice. J. Edgar Hoover, the Chief of the BOI, continued in his office and became the first Director of the FBI. The FBI's responsibility is to "detect and prosecute crimes against the United States".
In 1958, when he was 51 years old, on January 1st, the European Economic Community (Common Market) came into operation. The first members were France, West Germany, Italy, the Netherlands, Belgium, and Luxembourg. The Common Market was formed as a way to strengthen members' economies and deter wars in Europe.
In 1977, Paul was 70 years old when on January 20th, Jimmy Carter became the 39th President of the United States. Running against incumbent Gerald Ford, he won 50.1% of the popular vote to Ford's 48.0%. He was elected to only one term.
In 1995, in the year of Paul A Payro's passing, on September 3rd, eBay was founded in San Jose California. Beginning as simply a place for Pierre Omidyar's girlfriend (now wife) to share her Pez passion and collection online, the site has become a multibillion-dollar business and operates in 30 countries.
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