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'Canyon Of Heroes' Has Long History Of U.S. Pride

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'Canyon Of Heroes' Has Long History Of U.S. Pride

NEW YORK (CBS) ― It's been nearly two years since New York City threw a ticker-tape parade. It's a long-standing tradition and a way to honor not only athletic achievement, but greatness in many arenas.

Friday's parade will add to a long and proud chapter of New York City's history.

In February of 2008, the Super Bowl champions of the world, the New York Giants, took their turn, making their way up the "Canyon of Heroes." The Yankees will again join the Giants in the historic march, joining the likes of Teddy Roosevelt, as well as John Glenn and the Apollo 8 astronauts.

More than 200 parades have riveted the city. Former mayor Ed Koch presided over many of them during his 12 years in office, including the 1978 parade for the World Champion Yankees.

But it was the height of the fiscal crisis, and Koch was criticized for spending money on a celebration. But he understood the power of the parade.

"It was a tonic. Everyone was so sad about the condition of the city, it was worth the expenditure just to lift the spirits," he said.

Though sports teams seem to now dominate, that has not always been the case.

In 1981, a proud crowd filled the streets to honor the Americans who had been held hostage for more than a year by the Iranians. And in 1985, New York was among the first cities to thank Vietnam veterans for their service, helping to put to rest lingering feelings of divisiveness over that war.

"Everybody was crying," said Koch. "We were joyous and we were sad, sad for the deaths and casualties, and joyous that we could have this parade."

Historian Mike Wallace says the parade has changed somewhat over the years, but its heart stays the same. He says it's a tradition that says as much about as us as anyone who is honored.

"I think the parade has often been about calling attention to the city itself," he said. "It continues the tradition of New York being the de facto capital of the United States, and we like that."

Throughout lower Manhattan, you can see plaques on the streets commemorating each and every parade that's been held there.

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