The American flag is so distinctive and such an embodiment of our ideals as a nation, that it’s hard to believe it didn’t just appear one day in its present form.
But as the old adage goes, “Everything comes from somewhere.” And this holds true for our beloved Stars and Stripes.
Not only is our current flag the 27th version of the design, but there’s good evidence that it was originally inspired by the naval banner of a British colony on the opposite side of the globe.1
Around the time of the revolution, Benjamin Franklin said to George Washington, “While the field on your flag must be new in the details of its design, it need not be entirely new in its elements. There is already in use a flag, I refer to the flag of the East India Company.”
The East India Company, which at the time ran the region that is now modern-day India and Pakistan in much the same way the thirteen American colonies were run, flew a number of flags with the alternating red and white stripes that are so familiar to us.
And in fact, the Grand Union Flag, which the unofficial ensign of the American Navy flew from 1775 to 1777, looks nearly identical to the East India Company flag.
However, on June 14, 1777, the Continental Congress resolved, “that the flag of the thirteen United States shall be thirteen stripes, alternate red and white; that the Union be thirteen stars, white on a blue field, representing a new constellation.”2
Popular legend credits Philadelphia seamstress Betsy Ross with this design. Scholars now attribute the flag’s design to Francis Hopkinson, who also designed the Great Seal and the first coin of the United States. However, it is likely that Ross did sew early American flags in her family’s upholstery shop.
It’s interesting to note that the original purpose of the flag was as a naval ensign, used to identify American ships. In the 18th century most countries did not have national flags as we think of them today. They were more or less military communication devices.
One of the reasons our flag design has been changed repeatedly is the addition of new states, requiring additional stars. The last state to join the union was Hawaii in 1959. And our current fifty-star design was officially adopted on July 4, 1960.
The flag is a true symbol of freedom. As you look at the Stars and Stripes, remember and appreciate the liberty it represents. Which includes the freedom to prosper by investing in the free market.
If you ever have any questions about your investments or retirement plans, please feel free to give me a call at 801-545-0696.
Regards,
Mark Lund
Stonecreek Wealth Advisors, Inc. A Utah Financial Advisor
11576 S State Street, Bldg. 1002
Draper, UT 84020
Sources:
1. http://go.pardot.com/e/91522/wiki-Flag-of-the-United-States/939n78/1953114841?h=dk_WLYf-Hm_PfYQesEB-xeNKt1S-JMW8S-WHFHMvDTg
2. http://go.pardot.com/e/91522/item-today-in-history-june-14-/939n7c/1953114841?h=dk_WLYf-Hm_PfYQesEB-xeNKt1S-JMW8S-WHFHMvDTg
Disclosure: This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. All information is believed to be from reliable sources; however we make no representation as to its completeness or accuracy. All economic and performance data is historical and not indicative of future results. Market indices discussed are unmanaged. Investors cannot invest in unmanaged indices. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This material was prepared by Efficient Advisors, LLC (“EA’) for Mark Lund, Mark is a Financial Advisor in Utah. He is known as a Wealth Advisor, The 401k Advisor, Investor Coach, Financial Planner, Investment Advisor and author of The Effective Investor. Mark offers investment advisory services through Stonecreek Wealth Advisors, Inc. a fiduciary, independent, fee-only, Registered Investment Advisor firm providing investment management and retirement planning for individuals and 401k consulting for small businesses. Mark’s newsletter is called The Effective Investor Newsletter. Cities served in Utah are: Salt Lake City, Salt Lake County, Utah County, Park City, Murray City, West Jordan City, Sandy City, Draper City, South Jordan City, Provo City, Orem City, Lehi City, Highland City, Alpine City, American Fork City. The views expressed herein are exclusively those of Efficient Advisors, LLC (‘EA’), and are not meant as investment advice and are subject to change. All charts and graphs are presented for informational and analytical purposes only. No chart or graph is intended to be used as a guide to investing. EA portfolios may contain specific securities that have been mentioned herein. EA makes no claim as to the suitability of these securities. Past performance is not a guarantee of future performance. Information contained herein is derived from sources we believe to be reliable, however, we do not represent that this information is complete or accurate and it should not be relied upon as such. All opinions expressed herein are subject to change without notice. This information is prepared for general information only. It does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person who may receive this report. You should seek financial advice regarding the appropriateness of investing in any security or investment strategy discussed or recommended in this report and should understand that statements regarding future prospects may not be realized. You should note that security values may fluctuate and that each security’s price or value may rise or fall. Accordingly, investors may receive back less than originally invested. Investing in any security involves certain systematic risks including, but not limited to, market risk, interest-rate risk, inflation risk, and event risk. These risks are in addition to any unsystematic risks associated with particular investment styles or strategies.