The Year in Business, Educational and Financial History

7 Jan – The first commercial bank in the United States, the Bank of North America, opened for business (1782).

16 Jan – The Pope appointed the Medici family as the official bankers of the Papacy (1412).

8 Feb – The NASDAQ, originally the National Association of Securities Dealers Automated Quotations, started business (1971).

23 Feb – The first US mill converting cotton to cloth was founded in Waltham, MA, inaugurating the expansion of the US textile industry (1813).

8 Mar – The New York Stock Exchange was founded (1817).

25 Mar – Member states West Germany, France, Italy, Belgium, Netherlands and Luxembourg formed the European Economic Community (1957).

1 May – The Wedgwood Pottery Company, one of the most famous firms in British history, was founded by Josiah Wedgwood (1759).

2 May – English King Charles II approved the Charter of the Hudson Bay Company, opening up exploration, trade and settlement in the region (1670).

3 May – The oldest institution of higher education in modern Greece, the University of Athens, was founded in Athens, Greece (1837).

4 May – During a labor demonstration in Haymarket Square, Chicago, an unknown assailant threw dynamite at police, killing seven police officers and four civilians and injuring scores more (1886).

16 Jun – The Ford Motor Company under founder Henry Ford was incorporated (1903).

23 Jul – The Ford Motor Company sold its first car (1903).

8 Sep – Harvard College, originally called the College at New Town, was established by vote of the Great and General Court of the Massachusetts Bay Colony (1636).

19 Oct – On Black Monday, stock markets beginning in Hong Kong, spreading through Europe and into the United States, plummeted (1987). The US Dow Jones industrial average (DJIA) dropped almost 23%.

24 Oct – On Black Thursday, the US stock market collapsed, spreading financial instability worldwide and initiating the Great Depression (1929).

11 Nov – The Virginia Military Institute was founded in Lexington, Virginia (1839).

28 Nov – After closing for the opening months of World War I, the New York Stock Exchange reopened (1914).

29 Nov – The Atari company released Pong, the first commercially successful video game (1972).

3 Dec – The German Customs Union established the first periodic census in Germany (1834).

27 Dec – 29 nations signed the agreement creating the World Bank and the International Monetary Fund (1945).

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A Child Leaving Home, and the Providence of God

Parenting is not over when a child leaves home. In many ways, the hardest part is just beginning.

I was chatting with a friend, a professor of government late of Georgetown University, during our Wednesday night church dinner.  He mentioned several Christian youth he had recently met who had lived a sheltered life of homeschooling and church activities, and his concern of how they would do when confronted with the belligerent anti-Christian staff and libertine lifestyles prevalent in most secular universities.  As my oldest will be starting a state college this fall, I was intrigued by his observation.  This educated and devoted man was certainly right to be concerned, and mentioned that he wanted his children to attend a Christian school when the time comes.  There are many sad tales of students raised in Christian homes who are too unprepared intellectually and too undisciplined morally to resist the temptations of living on their own.  How many make mistakes that haunt them for the rest of their lives?

At the same time, Jesus and His disciples lived and worked in Galilee, the most cosmopolitan place in Palestine.  He clearly tells us to be in the world but not of the world (John 15:19, 17:14-16), and to be as salt (Matthew 5:13) to preserve and light (Matthew 5:14) to illuminate the fallen world.   How does a faithful Christian know what to do in the face of such important principles?

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