April 02

On April 2, 1792, the United States Congress enacted the Coinage Act, creating the United States Mint in Philadelphia. The law defined the dollar as the unit of currency and regulated the coins to be struck, including their weight, composition, and design. It established positions such as the Mint Director and set standards for gold, silver, and copper coinage. By laying the foundation for a uniform national currency, the Coinage Act aimed to stabilize the young nation's economy and facilitate commerce. The act also authorized medals and foreign coin conversions, reflecting a comprehensive approach to monetary policy. The U.S. Mint would later develop into a cornerstone institution for American financial and industrial growth.

Before LexisNexis, legal research relied on printed volumes and manual indexing that required hours of tedious searching. Introduced by a team at the University of Cincinnati and Mead Data Central, LexisNexis offered full-text search of legal documents. Its computerized database provided unprecedented speed and accuracy, transforming law firms and academic institutions. The service expanded rapidly, adding news and business information in the following years. LexisNexis set a new standard for digital research and paved the way for modern online information services.

Facing an energy crisis and rising gasoline prices, President Carter sought to tax excess profits from domestic oil production. The Windfall Profits Tax Act imposed levies on oil producers when market prices exceeded a government-set base price. Revenue from the tax was earmarked for energy conservation, research, and assistance to low-income households. Critics argued the law discouraged domestic oil exploration, while supporters saw it as a necessary response to the 1970s oil shocks. The act remained in place until its repeal in the 1980s amid changing economic conditions. Its legacy underscores the challenges of balancing energy policy, taxation, and market dynamics.

On April 2, 2025, President Donald Trump unveiled the so-called Liberation Day tariffs, targeting imports worldwide. The announcement imposed steep duties on steel, aluminum, technology products, and consumer goods. The administration stated the move aimed to protect American jobs and reduce trade imbalances. Global markets reacted with volatility as trading partners threatened retaliatory measures. Critics warned the tariffs could ignite a full-scale trade war and raise costs for U.S. consumers. Supporters praised the strong stance, seeing it as a bold effort to bolster domestic manufacturing.