Cursus Honorum: The Roman Hierarchy

The cursus honorum officially begins with ten years of military duty in the Roman army as a Cadet or in the staff of a general. Nepotism is now condemned. A more prestigious position was that of a military tribune. As many men, at the age of around 28,as needed by the Legions are elected by the Centurion Council to serve as a Tribunes in one of the legions. These years normaly are mandatory to qualify for political office, but, in practice, the rule is not rigidly applied.

The following steps of the cursus honorum were achieved by direct election every year.

Quaestor

The first official post is that of quaestor. Candidates have to be at least 28-30 years old.
Twenty quaestors serve in the financial administration at Rome or as second-in-command to a governor in the provinces. They can also serve as the pay master for a legion. An additional task of all quaestors is the supervision of public games. Also, after the reforms of Sulla in the early 80s BC, election to quaestor brought automatic membership in the Senate, which previously was decided by the censors. As a quaestor, an official is allowed to wear the toga praetexta, but is not escorted by lictors, nor does he possess imperium.

AedilesThe first official post is that of quaestor. Candidates have to be at least 28-30 years old.
Twenty quaestors serve in the financial administration at Rome or as second-in-command to a governor in the provinces. They can also serve as the pay master for a legion. An additional task of all quaestors is the supervision of public games. Also, after the reforms of Sulla in the early 80s BC, election to quaestor brought automatic membership in the Senate, which previously was decided by the censors. As a quaestor, an official is allowed to wear the toga praetexta, but is not escorted by lictors, nor does he possess imperium.

Aediles

At 36 years of age, former quaestors can stand for election to one of the aedile positions. The aediles have administrative responsibilities in Rome. They have to take care of the temples (whence their title, from the Latin aedes, "temple") they organize games and are responsible for the maintenance of the public buildings in Rome. Moreover, they ar in charge of Rome's water and food supplies; in their capacity as market superintendents, they serve sometimes as judges in mercantile affairs.
The Aedile is the supervisor of public works. He oversees the public works, temples and markets. Therefore the Aediles have been in some cooperation with the current Censors, who have similar or related duties. Also they oversee the organization of festivals and games (ludi).
While part of the cursus honorum, this step is optional and not required to hold future offices. Though the office is usually held after the quaestorship and before the praetorship, there are some cases with former praetors serving as aediles.

Praetor

After holding either the office of Quaestor or Aedile, a man of 39 years can run for Praetor. The number of Praetors elected vary. In the absence of the Consuls, a Praetor will be given command of the garrison in Rome or in Italy. Also, a Praetor can exercise the functions of the Consuls throughout Rome, but their main function is that of a judge. They preside over trials involving criminal acts as well as grant court orders or validate "illegal" acts as acts of administering justice. As a Praetor, a magistrate is escorted by six lictors, owns imperium, and wears the toga praetexta. After a term as Praetor, the magistrate will serve as a provincial governor in the office of Propraetor, owning Propraetor imperium, commanding the province’s legions, and possessing ultimate authority within their province(s).
The Praetor Peregrinus, who is the chief judge in trials involving one or more foreigners. The other is the Praetor Urbanus, the chief judicial office in Rome. He has the power to overturn any verdict by any other courts, and serves as judge in cases involving criminal charges against provincial governors. The Praetor Urbanus is not allowed to leave the city for more than ten days. If one of these two Praetors is absent from Rome, the other will perform the duties of both.


Consul

The minimum age is 42. The names of the two elected consuls identifies the year. Consuls are responsible for the Republicas political agenda, command large-scale armies and control important provinces. The consuls served for only two years (to prevent corruption) and can only rule when they agree, because each consul can veto the other's decision.
The consuls alternate monthly as the chairmen of the Senate. They also are the supreme commander in the Roman army, with each being granted two legions during their consular year. Consuls also exercise the highest juridical power in the Republic, being the only office with the power to override the decisions of the Praetor Urbanus. Only laws and the decrees of the Senate or the People's assembly limit their powers, and only the veto of a fellow consul or a tribune of the plebs can supersede their decisions.
A consul is escorted by twelve lictors, owns imperium and wares the toga praetexta. Because the consul is the highest executive office within the Republic, they have the power to veto any action or proposal by any other magistrate, save that of the Tribune of the Plebs. After a consulship, a consul is assigned one of the more important provinces and acts as the governor in the same way that a Propraetor does, only owning Proconsular imperium. A second consulship can only be attempted after an interval of 10 years to prevent one man from holding too much power.

Governor

Though not part of the Cursus Honorum, upon completing a term as either Praetor or Consul, an officer is required to serve a term as Propraetor and Proconsul, respectively, in one of Rome's many provinces. These Propraetors and Proconsuls hold near autocratic authority within their selected province or provinces. Because each governor holds equal imperium to the equivalent magistrate, they are escorted by the same number of lictors and can only be vetoed by a reigning Consul or Praetor. Their abilities to govern are only limited by the decrees of the Senate or the people's assemblies, and the Tribune of the Plebs are unable to veto their acts as long as the governor remains at least a mile outside of Rome.

CensorAt 36 years of age, former quaestors can stand for election to one of the aedile positions. The aediles have administrative responsibilities in Rome. They have to take care of the temples (whence their title, from the Latin aedes, "temple") they organize games and are responsible for the maintenance of the public buildings in Rome. Moreover, they ar in charge of Rome's water and food supplies; in their capacity as market superintendents, they serve sometimes as judges in mercantile affairs.
The Aedile is the supervisor of public works. He oversees the public works, temples and markets. Therefore the Aediles have been in some cooperation with the current Censors, who have similar or related duties. Also they oversee the organization of festivals and games (ludi).
While part of the cursus honorum, this step is optional and not required to hold future offices. Though the office is usually held after the quaestorship and before the praetorship, there are some cases with former praetors serving as aediles.

Praetor

After holding either the office of Quaestor or Aedile, a man of 39 years can run for Praetor. The number of Praetors elected vary. In the absence of the Consuls, a Praetor will be given command of the garrison in Rome or in Italy. Also, a Praetor can exercise the functions of the Consuls throughout Rome, but their main function is that of a judge. They preside over trials involving criminal acts as well as grant court orders or validate "illegal" acts as acts of administering justice. As a Praetor, a magistrate is escorted by six lictors, owns imperium, and wears the toga praetexta. After a term as Praetor, the magistrate will serve as a provincial governor in the office of Propraetor, owning Propraetor imperium, commanding the province’s legions, and possessing ultimate authority within their province(s).
The Praetor Peregrinus, who is the chief judge in trials involving one or more foreigners. The other is the Praetor Urbanus, the chief judicial office in Rome. He has the power to overturn any verdict by any other courts, and serves as judge in cases involving criminal charges against provincial governors. The Praetor Urbanus is not allowed to leave the city for more than ten days. If one of these two Praetors is absent from Rome, the other will perform the duties of both.


Consul

The minimum age is 42. The names of the two elected consuls identifies the year. Consuls are responsible for the Republicas political agenda, command large-scale armies and control important provinces. The consuls served for only two years (to prevent corruption) and can only rule when they agree, because each consul can veto the other's decision.
The consuls alternate monthly as the chairmen of the Senate. They also are the supreme commander in the Roman army, with each being granted two legions during their consular year. Consuls also exercise the highest juridical power in the Republic, being the only office with the power to override the decisions of the Praetor Urbanus. Only laws and the decrees of the Senate or the People's assembly limit their powers, and only the veto of a fellow consul or a tribune of the plebs can supersede their decisions.
A consul is escorted by twelve lictors, owns imperium and wares the toga praetexta. Because the consul is the highest executive office within the Republic, they have the power to veto any action or proposal by any other magistrate, save that of the Tribune of the Plebs. After a consulship, a consul is assigned one of the more important provinces and acts as the governor in the same way that a Propraetor does, only owning Proconsular imperium. A second consulship can only be attempted after an interval of 10 years to prevent one man from holding too much power.

Governor

Though not part of the Cursus Honorum, upon completing a term as either Praetor or Consul, an officer is required to serve a term as Propraetor and Proconsul, respectively, in one of Rome's many provinces. These Propraetors and Proconsuls hold near autocratic authority within their selected province or provinces. Because each governor holds equal imperium to the equivalent magistrate, they are escorted by the same number of lictors and can only be vetoed by a reigning Consul or Praetor. Their abilities to govern are only limited by the decrees of the Senate or the people's assemblies, and the Tribune of the Plebs are unable to veto their acts as long as the governor remains at least a mile outside of Rome.

Censor

Main article: Censor (ancient Rome)
After consul, the next step in the Cursus Honorum is the office of censor. This is the only office in the Roman Republic whose term is a period of 30 months instead of the usual 24. Censors are elected every five years and although the office holds no military imperium, it is considered a great honor. The censors take a regular census of the people and then apportion the citizens into voting classes on the basis of income and tribal affiliation. The censors enroll new citizens in tribes and voting classes as well. The censors are also in charge of the membership roll of the Senate, every five years adding new senators who have been elected to the requisite offices. Censors can also remove unworthy members from the senate. Censors are also responsible for construction of public buildings
Censors also have financial duties, in that they have to put out to tender projects that are to be financed by the state. Also, the censors are in charge of the leasing out ofpublic land for public use and auction. Though this office owns no imperium, meaning no lictors for protection, they are allowed to wear the toga praetexta.

Tribune of the Plebs

Those who hold the office are granted sacrosanctity (the right to be legally protected from any physical harm), the power to rescue any citizen from the hands of a magistrate, and the right to veto any act or proposal of any magistrate, including another tribune of the people and the consuls. The tribunes can even convene a Senate meeting and lay legislation before it and arrest magistrates. Their houses have to remain open for visitors even during the night, and they are not allowed to be more than a days' journey from Rome. Due to their unique power of sacrosanctity, the Tribune has no need for lictors for protection and owns no imperium, nor can they wear the toga praetexta.

Princeps Senatus

Another office not officially a step in the cursus honorum is the princeps senatus.. The princeps senatus serves as the leader of the Senate and is chosen to serve a five year term by each pair of Censors every five years. Censors can, however, confirm a princeps senatus for a period of another five years. The princeps senatus is chosen from all senators who have served as a Consul, with former Censors usually holding the office. The office originally granted the holder the ability to speak first at session on the topic presented by the presiding magistrate but eventually gained the power to open and close the senate sessions, decide the agenda, decide where the session should take place, impose order and other rules of the session, meet in the name of the senate with embassies of foreign countries, and write in the name of the senate letters and dispatches. This office, like the Tribune, does not own imperium, is not escorted by lictors, and can not wear the toga praetexta.

Gaius Julius Octavius Augustus

After the civil wars which brought Augustus to power, on the winning side alone, 60 legions stood combat-ready.Augustus decided to retain 28, while the remainder would be demobilized and settled in the colonies.By this act, the west's first standing army of 150'000 legionaries and a similar number of auxiliaries was created. Length of service was set at sixteen years, later it was increased to twenty.Though his army of 28 legions Augustus made sure to quickly spread across the far reaches of the empire, with all the legions being posted both far away from Rome as well as as far away as possible from each other.It expressed Augustus' distrust of soldiers and of ambitious men who might rouse them against him.By keeping the armies close to the borders their energies would be directed outward, toward foreign enemies; and keeping them far from each other would ensure that no overwhelming force could be assembled which might threaten the throne.While this caution, right after the civil war, was understandable, Augustus' arrangements would long outlive him.Augustus disposition of the legions was matched by his manipulation of the provinces. Of these he retained the most powerful under his direct power on the grounds that they were insecure, either with enemies on their borders or were themselves capable of rebellion. But his real purpose was that he alone should have arms and maintain soldiers. In short, Augustus kept the outer, returning the inner provinces to the Senate. It was a muted way of assuring himself commander-in-chief, for the army would be stationed only in the outer provinces which would be governed and administered by the emperor's appointees. This meant that the frontier would be under direct imperial authority, establishing for the emperor a hold over foreign affairs and decisions of peace and war.The division of territory into 'Senate's share' and 'Caesar's share' was accompanied by a ban on senators even visiting a frontier province without imperial permission.It was clear from this that Augustus saw the Senate as one of the likeliest sources from which to expect a challenge to his position.To this one must add, that to Augustus (as well as to later Caesars) the Senate, with its centuries of experience, remained indispensable in running the empire.
The East of the empire gave no trouble. The small dependent kingdoms still surviving in Asia Minor (Turkey) were peacefully and gradually absorbed into the Roman provincial system. Parthia under king Phraates had no desire to challenge Rome. The unavenged disaster of Carrhae in 53 BC however had always rankled in the Roman mind. So when in 20 BC a demand was made by Rome, emphasized by a military demonstration of force along the border, for the return of the captives and most importantly for the legionary standards, which had been in Parthian possession since the disastrous defeat of Crassus over thirty years earlier. King Phraates wisely gave way, avoiding war against a newly united foe, increasing in strength. The standards were returned to Rome without a fight. An achievement which won Augustus high praise.

By 19 BC Agrippa had assured the submission of the Spanish tribes. But a German incursion across the Rhine in 16 BC defeated a Roman commander, Lollius, and called for the temporary presence of Augustus at the front, where he left the command in the hands of his stepson Drusus.

In 12 BC Agrippa died and with him Augustus lost his most obvious heir. For a while Augustus hoped for Gaius or Lucius, both sons of Agrippa to succeed him, but as they both died his choice somewhat reluctantly fell on Tiberius, the son by his wife out of a previous marriage.Then followed a conquest of Germany, initially to the Elbe. At first it was led by Drusus, who died on campaign. He was succeeded by Tiberius who had established Roman supremacy over Pannonia and Noricum.Sixteen years' struggle in mire and forest, amphibious landings and spectacular marches were rewarded with a succession of victories. A bold project, sometimes referred to as the 'Bohemian Plan', was mooted as a culminating blow. Tiberius would cross the Danube heading north, snip off what is now the western end of the Czech Republic, descend into the German plain and join hands with an army group advancing eastwards from the Rhine. The so-called 'Bohemian Plan' may have only been meant as one step in a much larger offensive.Rome, of course, virtually unbeaten so far and inexorably rising to conquer the word, by now virtually understood the rule of the world its birthright.But none of these grand schemes would be implemented. Shortly before commencement of operations, a revolt erupted in Tiberius' rear and spread rapidly across the Balkans. To quell it required almost half of Rome's fighting strength, to become tied up for three years in a mountain war.Meanwhile it was deemed that Northern Germany, west of the Elbe was sufficiently pacified. P. Quintillius Varus was entrusted as governor of the province. Though Germany was not ready for Roman civilization. In AD 9 disaster struck an empire which until then had virtually met no opponent capable of halting its rise to supreme power.Under the command of Varus three legions and three cavalry squadrons marched through the Teutoburger Wald (Saltus Teutoburgiensis) The German tribe, the Cherusci, under their leader known to the Romans as Arminius, had learnt their lesson.In open terrain, with room to manoeuvre, the Roman army was literally unbeatable. But in the middle of a forest, it was vulnerable. The trap was sprung and three entire legions were annihilated. Arminius' victory was a major turning point in the history of the Roman Empire. If Romans had previously marched as far as the Elbe, and even if they could do so in future, then this proved that they would never ever really rule any territory north of the Rhine and the Danube. - Rome had alas met its match in the barbarians of northern Europe.Though it was a costly lesson for Rome. Three legions had been annihilated. Varus and his staff committed suicide. It was to be remembered by the Romans as the 'Varian disaster'.Tiberius thereafter still could march his legions through Germany almost unhindered, in fact he did so. But not to subdue it and conquer it. For this, one now understood, was beyond Roman power.Tiberius was recalled from his task of restoring Roman authority in Germany. Instead command was left in the hands of Germanicus, who was to be highly popular with the legions, in contrast to the almost despised Tiberius.Had Germanicus had any serious political ambitions he would certainly have become a formidable opponent to any future emperor. Yet, Germanicus was loyal and a devoted soldier.
Alas, Augustus went out with advice to his successors that the empire should be kept within its existing boundaries. This was an astonishing turn of events. The imperialist had recanted. Rome could not expand indefinitely. He had in office learned of the problems facing an empire of this scale and appreciated the difficulties in holding it together.Any further expansion in the eyes of the elderly Augustus would take the empire beyond being practically governable.Also, the Mediterranean part of Europe, Africa and Asia, which Rome now ruled had been developed prior to Roman occupation. There was roads, town, cities. What prize was there to win, defeating the barbarian hordes of the north. Augustus ultimate conclusion from the Varian Disaster was that only civilized territories were worth the blood of Roman legionaries.His advice would have demanded a change in attitude by all Rome - to defend, not to conquer. Rome however, the she-wolf with her mighty legions, was not yet ready for such advice.

Discovering an ancient city

Archaeologists exploring an old military road in the Sinai have unearthed 3,000-year-old remains from an ancient fortified city, the largest yet found in Egypt, antiquities authorities announced Wednesday.

Among the discoveries at the site was a relief of King Thutmose II (1516-1504 B.C.), thought to be the first such royal monument discovered in Sinai, said Zahi Hawass, chief of Egypt's Supreme Council of Antiquities.

It indicates that Thutmose II may have built a fort near the ancient city, located about two miles northeast of present day Qantara and known historically as Tharu.

A 550-by-275-yard mud brick fort with several 13-foot-high towers dating to King Ramses II (1304-1237 B.C.) was unearthed in the same area, he said.

Hawass said early studies suggested the fort had been Egypt's military headquarters from the New Kingdom (1569-1081 B.C.) until the Ptolemaic era, a period of about 1500 years.

The ancient military road, known as the "Way of Horus," once connected Egypt to Palestine and is close to present-day Rafah, which borders the Palestinian territory of Gaza.

Archaeologist Mohammed Abdel-Maqsoud, chief of the excavation team, said the discovery was part of a joint project with the Culture Ministry that started in 1986 to find fortresses along that military road.
Abdel-Maqsoud said the mission also located the first ever New Kingdom temple to be found in the northern Sinai, which earlier studies indicated was built on top of an 18th Dynasty fort (1569-1315 B.C.).
A collection of reliefs belonging to King Ramses II and King Seti I (1314-1304 B.C.) were also unearthed with rows of warehouses used by the ancient Egyptian army during the New Kingdom era to store wheat and weapons, he said.
Abdel-Maqsoud said the new discoveries corresponded to the inscriptions of the Way of Horus found on the walls of the Karnak Temple in Luxor which illustrated the features of 11 military fortresses that protected Egypt's eastern borders.
Only five of them have been discovered to date.

Marcus Licinius Crassus

Crassus grew up as the son of a consul and distinguished general.His career to fame and phenomenal wealth began as he started purchasing the houses of Sulla's victims. Had Sulla confiscated all their belongings he sold them off cheap. And Crassus bought and made sensational profits when selling them on.Using his wealth he also kept a troop of 500 slaves, all skilled builders, on stand-by. He would then simply wait for one of Rome's frequent fires to break out and would then offer to buy the burning properties, as well as the endangered neighbouring buildings. Using his team of builders he would then rebuild the area and keep it to draw income from rent, or sell it on with a large profit. At one point Crassus was said even to own most of the city of Rome. There was no doubt some who wondered, if some of the fires started in Rome might not actually have been his doing.
But Crassus was not a man to be content with being extremely rich. Power was just as desirable to him as money. He used his wealth to raise his own army and supported Sulla on his return from the east.His money bought him the favour among many political friends and he therefore enjoyed great influence in the senate.But Crassus would not merely sponsor and entertain well established politicians. So, too, would he be granting funds to promising young firebrands who might just get lucky. And so his money helped build the careers of both Julius Caesar as well as Cataline.
Crassus; problem however was that some of his contemporaries possessed true genius. Cicero was an outstanding public speaker whilst Pompey and Caesar bathed in the glory of the marvellous military achievements. Crassus was a decent both as a speaker and as a commander, but he struggled and failed to live up to comparison with these exceptional individuals. His talent lay in making money, which might have bought him political influence but couldn't buy him true popularity with the voters.
His money though did open many doors. For his wealth allowed him to raise and maintain an army, at a time when Rome felt its resources stretched. This army was raised, with him as commander in the rank of praetor, to take on the terrifying menace of the the slave revolt of Spartacus in 72 BC. Two specific acts regarding this war made him truly infamous. When his deputy met the enemy and suffered a disastrous defeat, he chose to revive the ancient and gruesome punishment of 'decimation'. Of the five hundred men, whose unit were deemed most guilty for bringing about defeat, he had every tenth man killed in front of the entire army.Then, after defeating Spartacus in battle, the 6000 survivor's of the slave army were crucified along the road from Rome to Capua, where the revolt had first arise.
Despite his evident jealousy towards Pompey he held the consulship with him in 70 BC, the two of them using their term in office to restore the rights of the Tribunes of the People. In 59 BC the two were then joined by Julius Caesar in waht was to become known as the First Triumvirate, a period which saw the three of them cover all bases of Roman power so effectively that they ruled virtually unopposed. In 55 BC he once more shared the consulship with Pompey. Thereafter he managed to gain for himself the governorship of the province of Syria.Syria held two promises for its governor-to-be. The prospect of further riches (it was one of the wealthiest provinces of the entire empire) and the possibility of military glory against the Parthians. Had Crassus always jealously looked upon the military achievements of Pompey and Caesar. Now, alas, he sought to equal them. He charged headlong into a war, embarking on a campaign, whilst ignoring advice offered him on how to proceed.Finally he found himself stranded with little to no cavalry on the plains of Carrhae in Mesopotamia where the Parthian mounted archers shot his armies to pieces (53 BC).
Crassus was killed and it is said that his head as severed and molten gold was poured into his mouth as a mark of his infamous greed.

This Day in History

On May 27, 1937, San Francisco's Golden Gate Bridge was opened to the public for the first time for "Pedestrian Day," marking the start of the weeklong "Golden Gate Bridge Fiesta" held to celebrate its completion. More than 200,000 people paid twenty-five cents each to walk the bridge. The following day at noon President Franklin Roosevelt, from across the continent at the White House, pressed a telegraph key and the Golden Gate Bridge was officially opened for vehicular use. A compilation of raw film footage of both day's events is available as part of the Prelinger Archive, acquired by the Library of Congress in 2002.
Completed just six months after its neighbor, the San Francisco Oakland Bay Bridge, the Golden Gate Bridge is painted a striking hue known as international orange, a reddish color that was chosen to compliment the bridge's natural surroundings. Like the George Washington, Brooklyn, and Williamsburg bridges in New York City, the Golden Gate is a suspension bridge, held up by massive steel cables strung between towers. Its central span, at 4,200 feet, remained the longest in the world until 1964 when the Verrazano-Narrows Bridge, also in New York, was completed. (As of 2007, the Akashi-Kaikyo Bridge in Japan, at 1,991 meters—about 6,532 feet—has the longest single span of any suspension bridge.)
The area known as the Golden Gate is the narrow channel formed at the mouth of San Francisco Bay, where a gap in the line of low mountains opens to meet the Pacific Ocean. Although topographical engineer John C. Frémont first named these rocky straights the "Chrysopylae or Golden Gate" in his report to Congress in 1848, evidence suggests that the term was in use at least a few years earlier. Fremont's designation, which also appeared on his accompanying map of the region, caught the popular imagination when gold was discovered in California soon after.

The Dow Jones

In todays complex world market, there are many elements that drive the economy up or down. One of these elements is the stock market, and the king indicator of the stock market is the Dow Jones. It was on this day in history that the Dow Jones opened for the first time for trade, though the Dow Jones as a business had been around for years prior (the Dow Jones newsletter became the Wall Street Jornal several years befor the Dow Jones began trading). The folloing is a brief history of this american institution.



History of the Dow
The history of the Dow Jones Industrials Average, or DJIA, goes back to May 26, 1896 when Ch
History of the Dow
The history of the Dow Jones Industrials Average, or DJIA, goes back to May 26, 1896 when Charles Dow - Wall Street Journal editor and founder of Dow Jones and Company - first compiled and published the average as an indicator of stock market performance.

When first published, the original components, or member companies, of the Dow Jones Industrial Average included "smokestack" companies across a range of industries. Of the original twelve companies that made up the Dow Jones Industrials back in 1896, only General Electric is still part of the Industrials. The other eleven companies included:
American Cotton Oil - Predecessor of Bestfoods
American Sugar - Evolved into Amstar Holdings
American Tobacco - Broken up in 1911 by antitrust actions
Chicago Gas - Now part of Peoples Energy
Distilling & Cattle Feeding - Evolved into Millennium Chemicals
Laclede Gas - Still in operation as Laclede Group
National Lead - Now known as NL Industries
North American - Utility broken up in the 1940s
Tennessee Coal, Iron and Railroad Company - Bought by U.S. Steel
US Leather - Dissolved in 1952
US Rubber - Now part of Michelin
Dow Jones Indexes
The original components of the Dow Jones Industrials have changed over the years, and no longer represent companies that are in strictly agricultural and "heavy industries" such as tobacco, sugar, iron, leather, and rubber. As the US economy has grown to rely on other sectors, greater emphasis has been placed on companies providing financial services, retailing, and technology.
The first Dow Jones Index to be introduced was the Industrial Average which was first published on May 26, 1896. Leveraging the popularity and success of the industrials, Charles Dow later introduced the Dow Jones Transportation Average on October 26, 1896 and the Dow Jones Utility Average on January 2, 1929.
Dow Jones Industrials
Today the Dow Jones Industrials Average consists of 30 companies that are thought to best mirror the US economy. Representative companies of the Dow Industrials include 3M, Alcoa, Caterpillar, Home Depot, J.P. Morgan Chase, Microsoft and McDonalds. The Dow Jones Industrials is normally quoted as an index. This means the stock price of each company is multiplied by a weighting factor to derive the index number.
By using an index and introducing a weighting into the formula, companies can be inserted into the average without disrupting the historical movement of the index. A complete listing of the industrial companies and their weighting in the index can be found here - Dow Jones Industrials.
Dow Jones Transportation
The Dow Jones Transportation Index consists of 20 companies that provide transportation services including rail, trucking, airlines and automobiles. Representative companies in the Dow Jones Transportation Index include Burlington Northern and Santa Fe, Yellow Roadway, Southwest Airlines, and Ryder System, Inc. Just like the Industrials, each component or company in the transportation index has a weighting. You can download a complete list of the transportation index here - Dow Jones Transportation.
Dow Jones Utility
The last of the Dow indexes to be introduced, the Dow Jones Utility Average consists of 15 companies providing electric and gas to consumers across the US. Representative companies of the Dow Jones Utility Average include Consolidated Edison, Southern Company, and Williams Cos. You can download the utilities and their component weighting here - Dow Jones Utility.
History of the Average
Perhaps one of the most interesting aspects of the Dow's history is the time it took to reach 1,000 point milestones. When the index was first introduced it stood at 40.94 and it took roughly 76 years to reach the 1,000 mark. As of this writing, the Dow has not hit the 15,000 mark.
The complete milestone history of the average appears in the table below:
DJIA Milestones
Milestone
Date
Time
1,000
November 14, 1972
76 Years
2,000
January 8, 1987
14 Years
3,000
April 17, 1991
4 Years
4,000
February 23, 1985
4 Years
5,000
November 21, 1995
9 Months
6,000
October 14, 1996
11 Months
7,000
February 13, 1997
4 Months
8,000
July 16, 1997
5 Months
9,000
April 6, 1998
9 Months
10,000
March 29, 1999
12 Months
11,000
May 3, 1999
1 Month
12,000
October 19, 2006
7 Years 5 Months
13,000
April 25, 2007
6 Months
14,000
July 17, 2007
3 Months
15,000


The Dow at 12,000
Moving the DJIA from the 11,000 to 12,000 seemed impossible until October 19, 2006 when the Dow broke through a 1,000 milestone for the first time in the 21st century.
This last milestone represents a 1,000 point move in the index, but that's only a 9.1% increase in the average. If you compare that to the 14 years it took to move from 1,000 to 2,000, we're talking about a 50% increase in the average. You can look at our complete article on the Dow at 12,000 for more information on this important and historical achievement.arles Dow - Wall Street Journal editor and founder of Dow Jones and Company - first compiled and published the average as an indicator of stock market performance.

History Of Memorial Day

I found the article below at history.com and found it to be a short yet informative article on the history of Memorial Day. When your kids ask about Memorial Day you can know what you’re talking about. If they don’t ask, tell them anyway! Give them information about relatives, ancestors and friends that have served our country and died to keep us free.

Have a great Memorial Day, but don’t forget why we get a day off from school and work and have a big barbecue, stuffing our faces with our bounteous food!

God Bless America!

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‘Memorial Day was originally known as Decoration Day because it was a time set aside to honor the nation’s Civil War dead by decorating their graves. It was first widely observed on May 30, 1868, to commemorate the sacrifices of Civil War soldiers, by proclamation of General John A. Logan of the Grand Army of the Republic, an organization of former sailors and soldiers. On May 5, 1868, Logan declared in General Order No. 11 that:

The 30th of May, 1868, is designated for the purpose of strewing with flowers, or otherwise decorating the graves of comrades who died in defense of their country during the late rebellion, and whose bodies now lie in almost every city, village, and hamlet churchyard in the land. In this observance no form of ceremony is prescribed, but posts and comrades will in their own way arrange such fitting services and testimonials of respect as circumstances may permit.



During the first celebration of Decoration Day, General James Garfield made a speech at Arlington National Cemetery, after which 5,000 participants helped to decorate the graves of the more than 20,000 Union and Confederate soldiers buried in the cemetery.

This 1868 celebration was inspired by local observances of the day in several towns throughout America that had taken place in the three years since the Civil War. In fact, several Northern and Southern cities claim to be the birthplace of Memorial Day, including Columbus, Miss.; Macon, Ga.; Richmond, Va.; Boalsburg, Pa.; and Carbondale, Ill.

In 1966, the federal government, under the direction of President Lyndon Johnson, declared Waterloo, N.Y., the official birthplace of Memorial Day. They chose Waterloo—which had first celebrated the day on May 5, 1866—because the town had made Memorial Day an annual, community-wide event during which businesses closed and residents decorated the graves of soldiers with flowers and flags.



By the late 1800s, many communities across the country had begun to celebrate Memorial Day and, after World War I, observances also began to honor those who had died in all of America’s wars. In 1971, Congress declared Memorial Day a national holiday to be celebrated the last Monday in May. (Veterans Day, a day set aside to honor all veterans, living and dead, is celebrated each year on November 11.)

Today, Memorial Day is celebrated at Arlington National Cemetery with a ceremony in which a small American flag is placed on each grave. Also, it is customary for the president or vice-president to give a speech honoring the contributions of the dead and lay a wreath at the Tomb of the Unknown Soldier. About 5,000 people attend the ceremony annually.

Several Southern states continue to set aside a special day for honoring the Confederate dead, which is usually called Confederate Memorial Day