"So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself."1987 – Also in Washington, President Ronald Reagan takes responsibility for the Iran Contra Affair.

He acknowledges his administration’s overtures to Tehran deteriorated into an “arms for hostages” deal.

"A few months ago I told the American people I did not trade arms for hostages. My heart and my best intentions still me that's true,but the facts and evidence tell me it is not.

And 1902 – Birth of the AAA as the American Automobile Association is founded in Chicago.

Today in History. March 4th, David Melendy the Assoicated Press.