June 30, 1906
THEODORE ROOSEVELT SIGNS THE PURE FOOD AND DRUG ACT, KNOWN AS DR. WILEY’S LAW
The Pure Food and Drug Act that Theodore Roosevelt signed into law was an attempt to protect the health of American consumers. Also known as Dr. Wiley’s Law, this act required accurate ingredient labeling and prohibited the sale of adulterated—or poor quality—food.
October 14, 1907
THE PANIC OF 1907 BEGINS, IMPACTING THE UNITED STATES FOR THREE WEEKS
The Panic of 1907 was a series of bank runs in New York City as well as in other American cities during Theodore Roosevelt’s presidency. It took place during an economic recession and was due to public distrust of banks. While this panic created a three-week-long crisis throughout the nation, it also led to reforms that eventually became the Federal Reserve System.