Reply To: Traders Market Weekly: Cracks Widen in China and Emerging Markets

#74519

Hope everyone had a great Memorial Day weekend as we reflect on the honor & sacrifice of our troops

Here are some facts and history on the holiday:

The day was originally set aside to remember Union soldiers who died during the Civil War, but following World War I, its scope expanded to include those who died in any war or military action. At the end of the Civil War, many US cities held their own memorial observations for their hometown heroes.

The idea for a specific holiday came in 1868 from Illinois Senator John Alexander Logan, a former Union general and keynote speaker at one early observation. Logan used his position as commander-in-chief of the Grand Army of the Republic, a fraternal organization of Union soldiers, to issue a proclamation for a national “Decoration Day” to be observed on May 30 of that year by decorating the tombs of Union soldiers.
The name “Memorial Day,” started cropping up from time to time. The new name became more common after World War II, and in 1967 was declared the official name by Federal law.

Memorial Day was celebrated on May 30 until 1968, when Congress passed the Uniform Holidays Bill, moving 4 holidays — Columbus Day, Presidents’ Day, Veterans Day and Memorial Day—to designated Mondays in order to create the ever-popular three-day weekends. (Veterans Day eventually reverted to its traditional November 11 date, which mirrors Armistice Day and Remembrance Day celebrations in the United Kingdom and other Commonwealth nations).