Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.
What Happened? On this day in 1920, the 19th Amendment to the U.S. Constitution was implemented, granting women the right to vote.
Where The Market Was: The Dow Jones Industrial Average trade at around 86.50.
What Else Was Going On In The World? In 1920, the U.S. also ratified the 18th Amendment, which banned alcohol nationwide. Thousands of people are arrested in more than 30 cities nationwide in the Palmer Raids, part of the nationwide “Red Scare” related to communism following the Russian Civil War. Men’s neckties cost $1.25.
Culmination Of Women’s Suffrage: The 19th amendment wasn’t implemented until 1920, but the road had been a long and hard one for the women’s suffrage movement. The first bill to grant American women the right to vote was introduced in 1878. Although it was ultimately used as the basis for the 19th Amendment, it would be another four decades before women would be legally welcomed to the ballot box.
Historians often credit the role women played in the economy during World War I as changing perceptions of the role women could play in modern America. In the U.S. presidential election, popular vote count jumped from 18.5 million in 1916 to 26.8 million in 1920 thanks in large part to women that came out in droves to voice their opinion for the first time.
In the past century since the 19th Amendment was ratified, women have made tremendous strides in both politics and business. In 2019, there are 127 women in Congress, and a record 33 Fortune 500 companies have female CEOs.