In the year 400 BC, the city state of Athens levied taxes on grains and other products brought to them from other regions through the port of Piraeus. This constituted the first known usage of tariffs to raise revenues for a government. The Athenians went a step further and blocked all other entry points, requiring […]
THE MAIN FUNCTION OF TARIFFS Read More »
In the Roman City of Pompeii, the morning of October 24, 79 A.D., probably seemed like the start of any other autumn day to the population as they went about their daily activities. Very few if any could imagine that a great cataclysm would befall the entire region within a few hours. Certain natural disasters
WHY DIDN’T THE PEOPLE OF POMPEII ESCAPE THE VOLCANIC ERUPTION? Read More »
Before the founding of Jamestown or Plymouth in North America by English settlers in the early 1600’s, there had been at least one other colony that had settled in North American, in Roanoke Island in what is now known as North Carolina in the USA. The usual difficulties prevailed for the Roanoke Island settlers, but
WHATEVER HAPPENED TO THE LOST COLONY OF ROANOKE? Read More »
The origins of the Declaration of Independence in America date back over 200 years before Columbus even discovered land in the Western Hemisphere and brought the news back to Europe. The Declaration is not only the culmination of a long series of major complaints sent back to King George III, but also a continuation of
HOW THE DECLARATION OF INDEPENDENCE CAME ABOUT Read More »
In the mid 1930’s a popular form of long-distance air travel was the rigid airship, or Zeppelin. Filled with lighter-than-air gasses, the airships could travel up to about eighty or ninety miles per hour and could stay aloft indefinitely crossing the Atlantic Ocean in about two or three days. But the glamour of airship travel
WHAT CAUSED THE HINDENBURG DISASTER? Read More »
An economic boom usually occurs wherever oil is discovered. State and local governments in particular come out on top, and the growth in the area generates much in the way of income for local businessmen and real estate developers. But in the case of the Prudhoe Bay oil fields in north Alaska, the impact to
THE OVERALL IMPACT OF THE TRANS-ALASKA PIPELINE Read More »
During the time the U.S. grew economically after the Civil War ended, a class of ultra rich entrepreneurs rose to the top of many of America’s industries. Those that were the most successful had the backing of crafty financiers to provide large sums of capital when needed and to solve financial problems that blocked or
JOHN PIERPONT MORGAN—AMERICA’S GREATEST FINANCIER Read More »
The Second World War was fought in the far corners of each ocean in the world with many stirring stories about sea chases, with lucky chances, blunders, and skill that shaped the outcome. One of the best of those sea chases took place in late May, 1941, in the North Atlantic. The Battle of the
THE SHORT AND VIOLENT LIFE OF KRIEGSMARINE’S BISMARCK Read More »
In 1708 a small fleet of Spanish ships loaded with treasure obtained from mines in South America was attacked by a flotilla of British warships that aimed to take their cargo. After two hours of fighting, one of the Galleons, the San Joquin, escaped without forfeiting its cargo. Another one, the Santa Cruz, was captured
THE TREASURE TROVE OF THE SPANISH GALLEON SAN JOSE Read More »
The success story of artist turned entrepreneur, Walt Disney, mirrors the early period of growth of the motion picture entertainment industry. He made it to the top of his profession, but he began with a very humble, hard-working start. All along the way there were setbacks, bankruptcies, difficulties with distributors, and people turning their backs
THE SUCCESS STORY OF WALT DISNEY Read More »