Today, Cinqo De Mayo, was the day Benito Juarez and his army won their first battle against the Emperor Maximilian. Appointed to a hastily devised throne by his cousin, Napoleon, Maximilian was an Austrian Royal..
Mexican nationals, which had already ejected the Spanish, fought long against superior weapons until they won their first battle on the 5th of May. To celebrate this wondrous feat, the good people of California drink excessive amounts of Tequila and make 1 of the 2 famous Mexican sayings, either "Viva Mexico" or "No. NO! You're the best, dude!"
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At least that is how I learned (most of) it in the 5th grade California history class.
(Image courtesy of Yale University Press)