Ticker Tape Parade for the Statue of Liberty

First ticker-tape parade.October 28, 1886, was a big day in New York City. President Grover Cleveland was present to dedicate the Statue of Liberty. The 151-foot-tall copper statue was a gift from the people of France, erected on a 154-foot base on an island in New York Harbor.When the parade following the statue`s dedication wound its way through New York`s financial district on Manhattan Island, observers from offices high above the street began a spontaneous response—they threw ticker-tape from their windows. Ticker tape was the one-inch wide strip of paper that clicked continuously out of a ticker-tape machine, showing the instantaneous value of stocks being traded on the stock market. The tape fed out of the machines and gathered in piles on the floor. Onlookers decided that showering the parade with the paper strips would make a fitting tribute