Notes for Monday – September 19, 2016

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On September 19th, 1778, the Continental Congress passed the first budget of the United States. While the budget may have passed, the states responded poorly to the call for taxes to fund the government, and the government resorted to printing paper money to cover debts. In effect, the first budget was a failure, due in large part to the states not responding to the demands of Congress and the depreciation of fiat paper money. Are we talking about 1778 or 2014 here?

Also on this date in 1796, George Washington addressed the nation in his farewell address as president.

On a less serious note, Mickey Mouse made his first screen debut in 1928 (Steamboat Willy at Colony Theater NYC).

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