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Economics are a part of the world we know today It has been around since man walked on the earth and discovered the art of trading one good for another In this paper I will give a short time line from 1900 to 1995 as away of showing the importance of events that affect our economics in society 190014 March 1900 The United States US official is on the gold standard Using a new gold pen President McKinley signed into law today a bill declaring that the gold dollar shall be the standard unit of value and all forms of money issued or coined by the US shall be maintained at a parity with this standard Clifton Daniel 1992 This law assisted in establishing free trade with a standard of value on the international market 1901The Supreme Court outlawed customs duties on Cuban imports Thus increasing imports into the states without increasing exports out of the states The reason the Supreme Court ruled this way was they considered Cuba a territory and they had citizenship rights 1902The US pays 40 million dollars for the Panama Canal This canal could speed up the process of shipping and receiving of goods from other countries 1903Senate ratified the Hay-Herran Treaty guaranteeing the US right to build the Panama Canal The total cost of the Panama Canal was about 336 million which most of was paid by the US The Panama Canal was built for many different reasons One of the reasons is so that boats traveling west on the Atlantic Ocean going to the western countries of South America dont have to go all the way around the bottom of South America to get there Another reason the canal was built is products could be brought into Panama and Central America easier The Panama Canal is the first body of water to connect the Pacific and Atlantic Oceans Probably the most important reason for
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