This month in history:

July 1, 1862 President Abraham Lincoln signed the first income tax bill. The bill put into effect a levy of 3 percent on incomes of $600 to $10,000, and a 5 percent tax on incomes more than $10,000.

July 1, 1862 The Bureau of Internal Revenue was established by an act of Congress.

July 20, 1969 A global audience watched on television as Apollo 11 Astronaut Neil Armstrong took his first step on the moon.

July 30, 1975 Former Teamsters union leader James Hoffa was last seen outside a restaurant near Detroit.

July 31, 1790 The U.S. Patent Office first opened its doors.

The toy recall mess continues when Mattel issues a recall for 1.5 million, then 9 million toys containing lead and potentially unsafe parts made in China.

"Harry Potter and the Deathly Hallows," the seventh and last book in author J.K. Rowling's popular series, debuts to a record 8.3 million copies in 24 hours.

The world loses The Weekly World News, the supermarket tabloid that brought us Batboy and repeated visits from aliens. The publication is shut down by parent company American Media due to declining sales, but is still available online after a short suspension of new material.

The dollar hits a 25-year low against the pound and a record low against the euro.