Monroe Doctrine, Temptations and Enron - This Day in History – Dec 2nd

President Monroe premieres the “Doctrine” 

Back in 1823, the “Monroe Doctrine,” for American foreign policy was introduced by President James Monroe’s annual message to Congress.

This declaration was drafted by future President and Monroe’s successor within a year, Secretary of State John Quincy Adams.  According to history.com, “Monroe told Congress, and the world's empires, that "the American continents are henceforth not to be considered as subjects for further colonization by any European powers." This policy was invoked and adapted by subsequent presidents to advance American economic and political interests in the Western Hemisphere.” 

The Monroe doctrine would be significant in gaining territory within the U.S.  According to history.com, “Monroe did not actively seek to add territory to the United States, but some of his successors, including James Polk and Theodore Roosevelt, used the Monroe Doctrine to justify the annexation of new lands into the Union. Under its auspices, President James Polk took the land (via the Mexican-American War in 1846-48) that now makes up Texas. Later, Theodore Roosevelt tailored Monroe's philosophy to establish a strong American presence in Central America, the Philippines and the Caribbean.”

"Papa Was A Rolling Stone" moves the Temptations to #1

Back in 1972, the musical singing group the Temptations earned a spot on the Billboard Hot 100 with their narrative tune, “Papa Was A Rolling Stone.”

The lyrics for this song reflected a wayward father such as in the words:

        “Papa was a rolling stone, (my son)
        Where ever he laid his hat was his home
        and when he died, all he left us was alone”

The Temptations didn’t want to record this song.  The movie, “The Temptations gave a brief explanation of how it occurred.  The intro music with the sounds of the bass guitar, clapping and trumpet is well known to many Temptation fans.

The members of this group originated in Detroit, MI and would later become famous for adding to Motown’s creating,  “The Sound of Young America.” 

According to history.com, “The Temptations were inducted into the Rock and Roll Hall of Fame in 1989, but the deaths in quick succession of members David Ruffin, Eddie Kendricks and Melvin Franklin in 1991, 1992 and 1995, respectively, leaves Otis Williams as the sole surviving member of the original Temptations lineup. Williams continues to perform the group's hits to this day with a new group of Temptations.”

American Energy Company, Enron files Bankruptcy

Back in 2001, Houston, TX’s Enron Corporation was faced with corporate scandal and bankruptcy. 

This organization was very successful in 2000 with its posted revenue of $111 billion and had employed 21,000 employees, however, within a year Enron’s stock prices dropped dramatically from $90.75 to $0.26.

According to history.com, “as prices fell, Lay sold large amounts of his Enron stock, while simultaneously encouraging Enron employees to buy more shares and assuring them that the company was on the rebound. Employees saw their retirement savings accounts wiped out as Enron's stock price continued to plummet. After another energy company, Dynegy, canceled a planned $8.4 billion buy-out in late November, Enron filed for bankruptcy. By the end of the year, Enron's collapse had cost investors billions of dollars, wiped out some 5,600 jobs and liquidated almost $2.1 billion in pension plans.”

All History facts provided from the link below:

http://www.history.com/this-day-in-history/monroe-introduces-bold-new-foreign-policy?catId=9