Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date. What Happened On Feb. 14, 1903, under the Roosevelt administration, Congress established the U.S. Department of Commerce and Labor. Where the Market Was The S&P 500 had started the month at 8.41, while the Dow Jones Industrial Average started the year at 49.11. What Else Was Going On in the World U.S. intervention had just helped end the Venezuelan crisis between Britain, Germany, Italy and Venezuela. Department of Commerce Assembles The act assembling the department also outlined the job of the secretary, whose inaugural contract promised an $8,000 salary, and a commissioner of corporations authorized to investigate foreign and domestic businesses. The department subsumed a number of existing bureaus, including the Lighthouse Board, the Lighthouse Establishment, the Steamboat Inspection Service, the Bureau of Immigration and affiliated services and commissioners, the Bureau of Navigation, the …
RSS Feed | The Epoch Times