1862年2月25日
President Abraham Lincoln
President Abraham Lincoln signs the Legal Tender Act, putting the U.S. government in the business of printing paper money. (Previously, most money had been printed privately by local banks.) The Act also authorizes the Treasury to sell 6% bonds callable in five years, maturing in 20, which are quickly nicknamed �5-20s.� Philadelphia broker Jay Cooke devises what he calls the 揹emocratic distribution� of investments, slicing the 5-20s into denominations as small as $50, advertising them heavily in local newspapers, and hiring his own army of 2,500 搕raveling agents� to sell them in towns throughout the Union. He raises $361 million in less than two years -- and introduces tens of thousands of Americans to investing for the first time.
1901年2月25日
J. P. Morgan and Elbert H. Gary form the United States Steel Corporation by combining the steel operations owned by Andrew Carnegie with Gary's Federal Steel Company and several smaller companies for $492 million. It was capitalized at $1.4 billion, making it the world's first billion-dollar corporation.
1913年2月25日
The Sixteenth Amendment, which effectively paved the path for the United States' adoption of an income tax, was ratified on this day in 1913, although its roots can be traced back to 1895. That year saw the Supreme Court weigh in with a decision in Pollock v. Farmers' Loan & Trust Co, a case that revolved around the constitutionality of income tax legislation. Though the nation had briefly adopted a like-minded tax during the Civil War, the Court ruled in the Pollock case that the income tax was unconstitutional. The Court deemed a property-based tax on incomes a "direct tax," which violated the Constitution's holding that taxes could only be levied if they raised revenues that were commensurate with each state's population. However, the intervening years saw the Court gradually move away from its consideration of an income tax as a "direct tax" and instead came to view it as an excise tax "measured by income." By the time it handed down its ruling on the Sixteenth Amendment, the Supreme Court experienced a full-blown change of heart and judged income taxes as being "inherently" indirect. Although it "conferred no new power of taxation," the amendment greatly increased the chances that future income tax legislation would make its way into the nation's law books. Irate legislators attempted to kill the amendment; when the Supreme Court rendered its judgement in 1916, it upheld the legislation and paved the path for the Federal income tax.
2002年2月25日 沪深证交所修改退市程序,PT制度将终结
沪深证交所分别完成了对《股票上市规则》第10章“暂停上市、恢复上市和终止上市”的修订。与原规则相比，新规则对上市公司的退市程序作了修改，取消了原规则中有关暂停上市公司宽限期申请与审核的程序、股票特别转让服务的规定，并缩短了暂停上市的期限；明确了恢复上市与终止上市由交易所专家委员会予以审核，交易所根据其意见作出是否核准公司股票恢复或终止上市的决定。
2002年2月25日 深交所实行大宗交易制度
《深圳证券交易所大宗交易实施细则》2月25日发布并正式实施。大宗交易制度将适用于在深交所上市的A股、基金、债券的交易。
