By Day: Historical Events on August 5th

Sir Humphrey Gilbert, a British navigator and explorer takes possession of the area around St. John’s harbor, Newfoundland in the name of the Queen. He was later lost at sea in a storm off the Azores on his return trip to England.

The Revenue Act is signed by President Lincoln imposing the first federal income tax. The action was prompted by the financial requirements of the Civil War. At first, Congress placed a flat 3-percent tax on all incomes over $800,and later modified this principle to include a graduated tax. Congress repealed Lincoln’s tax law in 1871, but in 1909 passed the 16th Amendment, which set in place the federal income-tax system used today. Congress ratified the 16th Amendment in 1913. More

Battle of Mobile Bay -- Admiral David G. Farragut, leads a fleet of fourteen wooden ships and four ironclads and delivers a much needed victory for the Union and immortalizes the phase "Damn the torpedoes! - Full speed ahead!” Farragut became the first U.S. Navy’s full admiral. At the time of his death in 1870, he had served a total of 59 years in uniform. More

The first electric traffic signal is installed in Cleveland, Ohio at the corner of East 105th Street and Euclid Avenue. It was shaped like a birdhouse and had just green and red lights, with a buzzer that indicated when the light was about to change. A police officer named Lester Wire came up with the idea that revolutionized traffic engineering. He later sold the patent to General Electric. In 1923, inventor Garrett Morgan patented the three-position traffic signal, which is where we get today’s yellow light. More

Burkina Faso Independence Day. Effective date of the agreement with France signed on 11 July and creation of the independent Republic of Upper Volta. On 4 August 1984, it changed its name to Burkina Faso.

The Limited Nuclear Test Ban Treaty was signed by the United States, Great Britain, and the Soviet Union. After Senate approval, the treaty that went into effect on October 10, 1963, banned nuclear weapons testing in the atmosphere, in outer space, and under water. More

The turret of the Civil War ironclad USS Monitor is lifted out of the Atlantic Ocean off the coast of Hatteras N.C. The historic warship sank on December 31 1862 during a storm as it was being towed around Cape Hatteras on its way to Beaufort, North Carolina, to join a fleet being assembled for an attack on Charleston. Many of the sailors were rescued, but 16 of its crew members perished, More

NASA's Juno spacecraft launches on a mission to study the planet Jupiter

Standard & Poor’s credit rating agency downgrades the United States debt from its highest rating of AAA to a lesser AA+ rating, marking the first-ever decline of credit worthiness for the U.S. The agency cited America’s $14 trillion outstanding debt and an ineffective political leadership to address the debt reduction. This downgraded rating remains in effect as of January 1, 2023.

The Summer Olympics are held in Rio de Janeiro, Brazil, showcasing athletes from around the world.

India revokes the special autonomous status of Jammu and Kashmir, escalating tensions between India and Pakistan over the disputed region.