economic welfare of the country by inviting a tidal wave of inflation". Nevertheless, the administration's Bureau of Budget reported the price increase would have caused a net gain for the GDP as well as a net budget surplus. The stock market, which had steadily declined since Kennedy's election in 1960, dropped 10% shortly after the administration's action on the steel industry took place. Federal and military death penalty During his administration, Kennedy oversaw the last federal execution prior to Furman v. Georgia, a 1972 case that led to a moratorium on federal executions. Victor Feguer was sentenced to death by an Iowa federal court and was executed on March 15, 1963. Kennedy commuted a death sentence imposed by a military court on seaman Jimmie Henderson on February 12, 1962, changing the penalty to life in prison. On March 22, 1962, Kennedy signed into law HR5143 (PL87-423), which abolished the mandatory death penalty for first degree murder suspects in the District of Columbia, the only remaining jurisdiction in the United States with such a penalty. The death penalty has not been applied in the District of Columbia since 1957 and has now been abolished. Civil rights movement The turbulent end of state-sanctioned racial discrimination was one of the most pressing domestic issues of the 1960s. "Jim Crow" segregation was the established law in the Deep South. The U.S. Supreme Court had ruled in 1954 in Brown v. Board of Education that racial segregation in public schools was unconstitutional. Many schools, especially those in southern states, did not obey the Supreme Court's decision. The Court also prohibited segregation at other public facilities (such as buses, restaurants, theaters, courtrooms, bathrooms, and beaches) but it continued nonetheless. Kennedy verbally supported racial integration and civil rights; during his 1960 presidential campaign, he telephoned Coretta Scott King, wife of the Reverend Martin Luther King Jr., who had been jailed while trying to integrate a department store lunch counter. Robert Kennedy called Georgia governor Ernest Vandiver and obtained King's release from prison, which drew additional black support to his brother's candidacy. Upon taking office in 1961, Kennedy postponed promised civil rights legislation he made while campaigning in 1960, recognizing that conservative Southern Democrats controlled congressional legislation. During his first year in office, Kennedy appointed many Black people to office including his May appointment of civil rights attorney Thurgood Marshall to the federal bench. In his first State