What Is Columbus Day?

Stock markets are open, but banks are not. So what is this all about? 

Columbus Day commemorates the arrival of Christopher Columbus in the Americas in 1492. It is a holiday celebrated in many countries, including the United States. The origins of Columbus Day can be traced back to the 18th century, when the Spanish Empire began to celebrate the anniversary of Columbus's voyage.

In the United States, the celebration of Columbus Day was first proposed in 1792 by the Society of St. Tammany, a patriotic organization in New York City. However, it was not until 1892, on the 400th anniversary of Columbus's voyage, that President Benjamin Harrison issued a proclamation declaring the first federal Columbus Day. The holiday was officially established as a national holiday in 1937 by President Franklin D. Roosevelt.

Over the years, the significance of Columbus Day has been debated. While some celebrate it as a tribute to the explorer who helped to establish European contact with the Americas, others view it as a reminder of the colonization and exploitation of indigenous peoples. In recent years, there has been a growing movement to replace Columbus Day with Indigenous Peoples' Day, a holiday that honors the contributions and cultures of Native Americans.