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Funny Money Friday: Thanksgiving Financial Facts

Posted on 11/10/2006 08:54 AM | Link | Post Comment

Money doesn&39;t have to be boring! Each week, CreditBloggers.com takes a look at the lighter side of the personal finance world in a series called Funny Money Friday.

Thanksgiving is only 13 days away! It is a time for turkey, football and shopping. But what about the pilgrims and the indians? Here are some interesting and funny financial facts about Thanksgiving that we dug up:

The Holiday: President Abraham Lincoln was the first to declare Thanksgiving a national holiday in 1863. But it was Franklin Roosevelt who set the date as the fourth Tuesday of November. His motivation: to encourage earlier holiday shopping! Now we&39;re lucky if we can make it past Halloween without Christmas carols in stores.

The Turkeys: $5.7 million dollars worth of live turkeys are imported to the US each year. 95% of those turkeys come from Canada. Most of our sweet potatoes come from the Dominican Republic.

The Pilgrims: America has historical roots as a nation of debt. The original colonists arrived in America in debt from the cost of their travel. They agreed to send goods back to England to repay their burdens. In 1641, the pilgrims consolidate their debts into four annual payments to a London creditor. The interest rates on these obligations were often between 30-70%.

The First American Money: Pilgrims used quahog shells called "wampum" for currency. In fact, Harvard College would accepte wampum for tuition payments in the 1640&39;s. Wampum shells were recognized as official currency in America for over 80 years. A variety of crops and furs and coins from other countries were also used.   

The Shopping: Black Friday is one of the busiest shopping days of the year, but it isn&39;t actually the biggest. The top shopping day of the year for retailers is usually the last Saturday before Christmas.

Happy Friday!

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