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Roland A Fowler 1907 - 2002

Roland A Fowler of Kensington, Montgomery County, MD was born on August 5, 1907, and died at age 95 years old on October 14, 2002.

Roland A Fowler

Kensington, Montgomery County, MD 20895

August 5, 1907

October 14, 2002

Male

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Roland A Fowler Roland Fowler (1907 - 2002)

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Roland A Fowler's History: 1907 - 2002

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08/5

1907

Birthday

August 5, 1907

Birthdate

Unknown

Birthplace

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10/14

2002

Death

October 14, 2002

Death date

Unknown
Cause of death

Unknown
Death location

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Roland A Fowler lived 23 years longer than the average family member when died at the age of 95.

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Roland A Fowler lived 23 years longer than the average family member when died at the age of 95.

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In 1907, in the year that Roland A Fowler 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.

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In 1913, when he was merely 6 years old, 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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Roland Fowler's Family Tree & Friends

Roland Fowler's Family Tree

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Roland A Fowler Aug 5, 1907 - Oct 14, 2002

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