William Henry "Bricky" Foster (1866 - 1946)
William Foster Biography
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William Henry "Bricky" Foster Family Tree
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William Foster Obituary
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1866 - 1946 World Events
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In 1866, in the year that William Henry "Bricky" Foster was born, on May 10th, the "banker's bank" - London bank Overend, Gurney and Company - collapsed, beginning the Panic of 1866. Unemployment went up to 8% and wages went down. Only about 16% of joint-stock companies - a company whose stock is owned jointly by the shareholders - weathered the Panic.
In 1883, at the age of 17 years old, William was alive when on May 24th, the Brooklyn Bridge - one of the oldest bridges in the US - was opened to traffic. Bridge construction began in 1869 and took 14 years to complete.
In 1924, William was 58 years old when J. Edgar Hoover, at the age of 29, was appointed the sixth director of the Bureau of Investigation by Calvin Coolidge (which later became the Federal Bureau of Investigation). The Bureau had approximately 650 employees, including 441 Special Agents. A former employee of the Justice Department, Hoover accepted his new position on the proviso that the bureau was to be completely divorced from politics and that the director report only to the attorney general.
In 1934, when he was 68 years old, on June 6th, the U.S. Securities and Exchange Commission was formed as a response to the stock market crash of 1929 and the continuing Great Depression. Previously, the states regulated the offering and sales of stocks - called "blue sky" laws. They were largely ineffective. Roosevelt created a group (one member was Joseph Kennedy, father of the future President Kennedy) who knew Wall Street well and they defined the mission and operating mode for the SEC. The new organization had broad and stringent rules and oversight and restored public confidence in the stock market in the United States.
In 1946, in the year of William Henry "Bricky" Foster's passing, pediatrician Dr. Benjamin Spock's book "The Common Sense Book of Baby and Child Care" was published. It sold half a million copies in the first six months. Aside from the Bible, it became the best selling book of the 20th century. A generation of Baby Boomers were raised by the advice of Dr. Spock.
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