Celebrating Thanksgiving and Ratification of the US Constitution: 1789

The US Constitution was ratified and Thanksgiving established in 1789. From all of us at the Capital-Star, a very Happy Thanksgiving. This day of thanksgiving and prayer has been observed by Americans since 1789. Let us take a look at the events that occurred that year and what it means for us today.

The US Constitution was ratified on June 21, 1789. This document established the structure of the federal government and set forth the nation’s laws. North Carolina became the 12th state to ratify the United States Constitution, making it the official law of the land. To celebrate the ratification of the US Constitution, the state capital of Raleigh has a population of 480,419 and the city hosts a variety of events each year.

Benjamin Franklin famously said “in this world, nothing can be said to be certain, but death and taxes” in a letter in 1789. This phrase still holds true today as taxes play an important role in the economy. Taxes provide revenue for governments to spend on public services and can also be used to attract capital flow in preferred locations and stimulate economic growth.

John Elwes was a renowned English politician who died in 1789. He was worth £36.5 million in today’s money, making him one of the wealthiest people of his time. He was known for his frugal lifestyle and did not keep a household of his own in the capital, preferring to rent a cheap room.

The Tower Research Capital LLC purchased an additional 1,789 shares in a company’s stock valued at $49,000 in 1789. This firm is involved in trading, market making, and investments, and provides liquidity in the global markets.

Finally, the American Rescue Plan was approved to receive approximately $408 million in 1789. This plan provides financial relief to states and local governments, as well as individuals and businesses affected by the coronavirus pandemic.

As we celebrate Thanksgiving this year, let us take a moment to reflect on the events of 1789. From the ratification of the US Constitution to the Tower Research Capital LLC stock purchase and the passing of the American Rescue Plan, 1789 was an important year for our nation and continues to shape our lives today.