ON THIS DAY

Magellan discovered Shark Island in 1521... and got a loan at 25% interest, compounded hourly.

In 1690, the first paper money was printed up in the colony of Massachusetts.

• Instead of "In God We Trust," it said, "Go Patriots!"
• The pilgrims realized that when they ran out, they could just print up more... and the United States was born!
• The first bill had Mike Wallace's picture on it.
• And it was great having money to buy paper with, but how would you pay for other stuff?
• Of course, back then, it was really worth very much. Shows how little we've come in 300 years.
• In less than two hours, the Governor realized, "Hey -- now we have something to tax!"

On this date in 1783, Spain recognized U.S. independence. Up until that time, we were wearing a fake beard.

In 1809, the territory of Illinois was organized.

• I believe that was the last time.
• Cleaned out the garage, straightened out the attic, the whole thing.
• One of the early pioneers, Ezekiel Blagojevich, tried to sell the territorial governor's seat, but there were no takers.

Hudson Maxim was born way back in 1853. Hudson invented smokeless gunpowder... which didn't taste very good, but it did make spitting a felony.

In 1881, P.T. Barnum introduced "Jumbo," an African elephant, to America. He only paid him peanuts.

On this date in 1913, the 16th amendment to our constitution was officially ratified. That allowed the government to collect an income tax. This should be a national day of mourning.

The Day The Music Died -- On this day in 1959, Buddy Holly, Ritchie Valens and J.P. "Big Bopper" Richardson were killed in a plane crash outside of Mason City, Iowa. Time to break out "American Pie" again by Don McLean.