On August 16, 1841, U.S. President John Tyler vetoed a bill to re-establish the Second Bank of the United States (pictured). Enraged Whig Party members — feeling betrayed by the WINO* Tyler — rioted outside the White House in history’s most violent demonstration on White House grounds.
* “Whig In Name Only,” anachronistic joke term. A play on the contemporary initialisms “Republican in Name Only” (RINO) and “Democrat in Name Only” (DINO).
On a sad August 15 in 1971, President Richard Nixon removed the last vestiges of the once-great bulwark of capitalism, America’s adherence to the international gold standard, ending convertibility of the United States dollar into gold by foreign investors. The dollar has remained fiat money ever since, but did not succeed in retaining its previous value.
But then, the dollar under the previous quasi-gold, Bretton-Woods Agreement wasn’t stable either, which is why Nixon had to close the gold window.
On August 14, 1765, Sam Adams led the first rebel mob against enforcers of the Stamp Act in Britain’s American colonies.
On this day in 1980, Lech Wałęsa led strikes at the Gdańsk, Poland, shipyards.
On August 13, 1831, Nat Turner witnessed a solar eclipse, which he interpreted as a sign from God. Eight days later he and 70 other slaves killed approximately 55 whites in Southampton County, Virginia.
On this day in 1898, an Armistice ended the Spanish-American War, a war commemorated best by sociologist and economist William Graham Sumner in his classic essay “The Conquest of the United States by Spain.”
On August 11, 1972, the last of American ground combat troops exited South Vietnam.
On August 10, 1809, Ecuadorans attempted independence from Spain with the Declaration of Independence of Quito, but failed with the execution of all the conspirators a few days less than a year later.
Independence finally occurred in 1822.
On August 9, 1942, British forces arrested Mahatma Gandhi in Bombay, spurring the Quit India Movement into nationwide action.
In 1999, Russian President Boris Yeltsin fired his Prime Minister, Sergei Stepashin, and his entire cabinet.
Francis Hutcheson, philosopher of the Scottish Enlightenment and a great influence on David Hume and Adam Smith, was born in Ireland on August 8, 1694. He died on his birthday in 1746.
Followers of Mahatma Gandhi launched the Quit India Movement against the British rule on August 8, 1942.
On the same day in 1974, President Richard M. Nixon resigned.
On August 7, 1782, George Washington instituted the Badge of Military Merit to honor soldiers wounded in battle, an award later renamed “the Purple Heart.”
Illustration: “Washington Crossing the Delaware,” Emanuel Leutze, 1851, Oil on canvas (Metropolitan Museum of Art, New York City), depicting an event in 1776, not 1782.