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In 1907, in the year that Tilman Wolfe 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 1924, this person was 17 years old when in May, wealthy college students Nathan Leopold and Richard Loeb kidnapped and killed 14 year old Robert Franks "in the interest of science". Leopold and Loeb thought that they were intellectually superior and that they could commit the perfect crime and not be caught. They were brought in for questioning within 8 days and quickly confessed. Clarence Darrow was hired as their defense lawyer, getting them life imprisonment instead of a death sentence. Loeb was eventually killed in prison - Leopold was released after 33 years, dying of a heart attack at age 66.
In 1933, by the time this person was 26 years old, 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.
In 1954, when this person was 47 years old, on May 17th, the Supreme Court released a decision on Brown v. Board of Education of Topeka. The ruling stated that state laws establishing separate public schools for black and white students was unconstitutional thus paving the way for integration in schools.
In 1965, in the year of Tilman Wolfe's passing, the television show "I Spy" premiered in the fall season on NBC. The stars were Bill Cosby and Robert Culp, making Cosby the first African American to headline a television show. Four stations - in Georgia, Florida, and Alabama - refused to air the show.
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