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Babe Ruth signs a two-year contract worth $160,000 with the New York Yankees. Upon giving Ruth, his new contract, Yankees General Manager Ed Barrow, declared that “No one will ever be paid more.” The contract was shocking for its time, as his $80,000 salary was more than that of President Herbert Hoover, who was getting $75,000. When asked about getting more than the President, the Babe responded that he had a better year.

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