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Today

The Statue of Liberty

The Statue of Liberty arrived in New York Harbor on June 17, 1885. On the same day in 1930, progressive Republican President Herbert Hoover — eager to please agricultural states, and confident that protectionism would yield greater wealth — signed the Smoot-Hawley Tariff. The Great Depression deepened, and watched up as each provision of the bill took effect.

Three years later, investment author and two-time Libertarian Party presidential candidate Harry Browne was born.

On June 17, 1944, Iceland declared independence from Denmark.

On this day in 1971, President Richard Nixon declared a “War on Drugs,” which steadily decreased civil liberty and the rule of law in America.

Exactly one year later, five men were arrested for attempted burglary on the offices of the Democratic National Committee in the Watergate complex in Washington, D.C., igniting the Watergate scandal that ultimately led to the resignation of U.S. President Richard Nixon more than two years later.

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Thought

Michael Ruhlman

We tend to use grocery stores without thinking about them, or if we do think about them, it’s with mild annoyance, the thought of shopping itself a chore. What we rarely reflect on is what a luxury it is to be able to buy an extraordinary variety and quantity of food whenever we want every day of the year.


Michael Ruhlman, Grocery: The Buying and Selling of Food in America (New York: Abrams Press, May 16, 2017), as quoted at Cafe Hayek, June 14, 2017

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Today

Nureyev & Adam Smith

On June 16, 1961, dancer Rudolf Nureyev defected from the Soviet Union.

The great Scottish moral philosopher, political economy pioneer, and Enlightenment intelectual Adam Smith (1723-1790), best known for authoring the 1776 masterwork The Wealth of Nations, was born on June 16.

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Thought

Henrik Ibsen

“You should never wear your best trousers when you go out to fight for freedom and truth.”


Henrik Ibsen, An Enemy of the People (1882), Dr. Stockmann, Act V

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Today

Pig War!

The Oregon Treaty, signed June 15, 1846, established the boundary between Great Britain’s Canadian territory and the United States of America, from the Rocky Mountains to the Strait of Juan de Fuca, using the 49th Parallel as the handy marker. However, the treaty was not exactly clear on the territorial status of the San Juan Islands, so exactly 13 years later, to the day, a war erupted . . . over a shot pig.

Basically, an American farmer shot a pig rooting through his garden. The pig belonged to an Irishman. The two did not agree upon compensation, and “the authorities” were called in, with infantry mustering from the south and the Governor of Vancouver Island instructing marines to land on San Juan Island — though the rear admiral in charge refused to comply with the order, on the reasonable grounds that war over a pig was not worth it. Local troops from both sides lined up against each other, but under command to defend themselves only and not shoot first. All that was exchanged in this war were insults. It turned out to be a bloodless war, discounting the pig, so it might qualify as the best war in American history.


On June 15, 1992, Vice President Dan Quayle incorrectly added an “e” to the end of a Trenton, N.J., sixth grader’s correctly spelled “potato.”

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Thought

Ambrose Bierce

Conservative, n.
A statesman enamored of existing evils, as opposed to a Liberal, who wants to replace them with others.
Cynic, n.
A blackguard whose faulty vision sees things as they are, not as they ought to be. Hence the custom among the Scythians of plucking out a cynic’s eyes to improve his vision.
Egotist, n.
A person of low taste, more interested in himself than in me.
Idiot, n.
A member of a large and powerful tribe whose influence in human affairs has always been dominant and controlling. The Idiot’s activity is not confined to any special field of thought or action, but “pervades and regulates the whole.” He has the last word in everything; his decision is unappealable. He sets the fashions and opinion of taste, dictates the limitations of speech and circumscribes conduct with a dead-line.
Mayonnaise, n.
One of the sauces that serve the French in place of a state religion.
Once, adj.
Enough.

Ambrose Bierce, The Devil’s Dictionary (1911)

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Today

Stars and Stripes

On June 14, 1777, U.S. Congress adopted the Stars and Stripes as the United States Flag.

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Thought

John H. Cochrane

Any time economists start telling you to pass complex regulations to enforce morality, run in the opposite direction. The Obama administration had something with the idea of ‘science-based’ policy. At least let’s get the cause and effect science right before we start making moral claims.


John H. Cochrane, “NoahLogic,” The Grumpy Economist, June 4, 2017

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Today

Anti-slavery

On June 13, 1774, Rhode Island became the first British colony in the Americas to prohibit the importation of slaves.

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Thought

Jean-Baptiste Say

The best scheme of finance is, to spend as little as possible; and the best tax is always the lightest.