The announcement that President Richard Nixon made on this date was significant because it was the first (and so far only) time that a President of the United States had (while still living) been forced to leave office.

Nixon was forced to resign because he was sure to be impeached and convicted for his role in the Watergate affair.  He had used his power as president to try to cover up a burglary that had been committed by people who worked for his campaign in 1972.

On August 9, 1974, Nixon announced that he was resigning.  This had never happened before and has not happened since.