Why do we celebrate International Workers’ Day? This was a question many of us asked as children. The best answers we probably got hovered around the day being one for workers to rest or one to celebrate the diligence of workers.
Many have walked the path to adulthood without getting to understand the foundation of this day, and still, do not understand it. The history of International Workers’ Day is rich and emotional, dating back to the early 19th century. Though it was initiated to celebrate blue-collar workers, professionals partake in the celebrations. Interestingly, the prevalent work hour length for professionals has its roots in this day.
IN THE BEGINNING: ROBERT OWEN
A charismatic and brilliant entrepreneur of the early 19th Century named Robert Owen, who would later become a critical subject matter in the study of economic and business thought, strove to redefine the working conditions of industrial workers. Ten hours to sixteen hours of labour for six days a week was the norm for workers then. These were the dark industrial days; when workers worked for long hours with little pay and poor savings (there was no Cowrywise then ☹).
Owen, being an influential figure in the British business space, spoke hard against this work anomaly and enjoyed some support. Even the likes of Karl Marx towed the path of his argument on work hours. His motto was, “eight hours labour, eight hours recreation, eight hours rest”. And there began the journey towards the 9 to 5 work style.
Although, it is still argued that there should be a further review of work hours today, from the view of the factory workers then it was a great deal. A great deal that some were willing to die and actually died for.
THE AMERICAN WAVE
Deepening its reach, the eight-hour workday demand spread to other continents such as North America. In America, it sparked a remarkable and historical revolution in the late 19th century, one that climaxed on May 4, 1886.
On Saturday, May 1, 1886, thousands of workers came out to protest long work hours. A protest that would last for three more days. The protest was based on an earlier declaration on October 1884 by the then Federation of Organized Trades and Labour Unions, pronouncing May 1, 1886, as the set date for the start of the eight-hour workday.
The chant on that historic day was simple but firm, “Eight-hour day with no cut in pay”. The protests were characterized by strong and brilliant speeches from the likes of August Spies and Albert Parsons.
As expected, the demonstrators faced strong opposition even from law enforcement agents. This angered some of the leaders pushing them to organize a more massive protest which would later be dubbed the Haymarket Affair. It was staged in Haymarket Square, Chicago.
THE HAYMARKET AFFAIR
May 4, 1886, was the date this protest reached a climax which was a buildup of other massive protests which had been peaceful according to reports. On that day, various speakers took turns speaking to the teeming crowd. As the speeches continued, the police arrived at the scene with the sole aim of dispersing the protesters. Just as Spies and his counterparts stepped down, after trying to effortlessly convince the officers that there was nothing wrong in holding the protest, a bomb was ignited!
The bomb was ignited in the midst of the officers, killing one officer outrightly and leading to a chaotic crossfire between the police officers and the demonstrators — some of them were armed. To this day, there has been no concrete proof on who ignited the bomb; some say the demonstrators did and some argue that it was a police tactic.
Sadly, over 60 casualties were recorded that day with 7 policemen and 4 workers getting killed.
In a bid to hold someone responsible, Spies and six other men were arrested on the grounds that they masterminded the bombing. Despite no strong proof, according to this report, to indict them they were charged guilty of the crime. One of them was sentenced to 15 years in prison while the others were sentenced to death — with two having their sentences converted to life in prison. Spies and 3 others were executed on November 11, 1887.
INTERNATIONAL WORKERS DAY
Their sacrifices, though too great, paid off as various firms and governments in later years adopted the eight-hour workday for workers and professionals. Today, these men are remembered as the Haymarket martyrs. May 1 was adopted by the pan-national organization of socialist and communist political parties in remembrance of the Haymarket affair.
Today, this remembrance event is known as International Workers’ Day and is celebrated across various countries of the world. Though better working conditions, including work hours, still need to be provided, the 9 to 5 journey was a major step.
SUSTAINING PROGRESS
Now you know why this day is considered important by various labour unions across the world. As we celebrate workers globally and work towards a better work system, you can also improve your experience as a professional/worker with this article on how to get a pay raise; or this one on how to keep your money working even after the 9 to 5. Don’t worry monies cannot organize protests :).
Happy Workers’ Day!
How has your experience with Cowrywise been so far? Share your story with us here. We want to celebrate you!

How can I collect my money back once is mature
You sell the units.
Hw can I get my money back…. When I have emergency cases….. cause am in need of it now??
How can I collect my money back once is mature.on mutual benefit
there is a sell option …or am I wrong?
Yes, there is
What a great teaching today Mr. Ope. Thank you sir. Please, i plead for more of these teachings
Well explained, well understood
Thanks for teaching Mr ope
Good and straight to the point.
Teaching is in-born in you; keep it up.
How can I turn my daily savings to investment for Mutual funds
Once they mature, you can transfer them to mutual funds.
I always love your teaching… Can’t wait for another ???
Very much thanks for this update. But please put me to light in a situation you are to contribute a fixed amount to run for let’s say three years and along the line one is not able to make it to the end due to unforseen circumstances after a period of say five months. What will happen to his contribution?
It will keep earning.
What about me that I invest with #1000,and I cash back with dat 1000,which kind of invest is that
This is insightful and i like the pizza explanation thingy. Is mutual fund risk free or there is any chance of default?
Thanks for your kind words. There varying risk levels for mutual funds. On Cowrywise, we have hem categorized from low-risk to high-risk. To find your best fit, we’ll take you through a short risk assessment.
Well understood…cheers?
That’s great to know.
clementogbewe@gmail.com
What is the parcentage interest rate of all the mutual funds?
Lol! May be free investment ,???
Ope ?
Thank you very much for the explanation. It breaks the whole concept down to perfectly understandable bits.
Now, my question is this – high risk mutual fund investments, where the YTD earning is something negative (as sometimes seen on the CowryWise platform), how do people actually make money from those?
I am always happy and expectant to get a mail from you, Ope, because I know I am about to learn something new.
Thank you for teaching with the whole illustration, I understood mutual funds better.
PLEASE I WOULD LIKE YOU TO EXPLAIN CALL UPTION AND HOLD UP TION
How do you know the maturation period
Hi Henry.
Only savings plans on Cowrywise have maturity dates.
You can purchase and sell your investments on Cowrywise at any time.
However, we always advise you to stick to a long-term investment strategy.
Thank you vary much ope for your explanations.
My question is can one deposit dollar In cowrywise stash??????????.??..
Nice of u cowrywises keep it up.
I believe cowrywise is gonna make this country different.
Why did they stop automatic debit oooooooo