Originally called Armistice Day, it is a day to honor war and military veterans.  It originally commemorated the German signing of an armistice to end World War 1.  Despite the United State's short involvement in the war, over 116,000 soldiers were killed.  On October 4, 1918, Kaiser Wilhelm II appealed to President Woodrow Wilson for an armistice to end the war.  As part of the truce, Wilson also wanted Wilhelm to abdicate his throne and replace the German government with a democracy.  Over the next few days, the allies sided with Wilson resulting in a truce.  On November 9, 1918, Wilhelm fled Germany and on November 11, the armistice was signed by the allies and new German government.

Tombs of unknown soldiers were erected by France, Britain, and the United States to recognize the unselfish service and unheralded bravery of our soldiers.  In France the grave is beneath the Arc de Triomphe, in Britain in Westminster Abbey, and in the United States in Arlington cemetery.

After World War II, a movement began to change the holiday from Armistice Day to Veteran's Day.  It was signed into law by Dwight D. Eisenhower on June 1, 1954.

 

Cool links:
http://www.dobhran.com/greetings/GRvetsday.htm
http://www1.va.gov/vetsday/
http://www.grooviespad.com/groovie/special/veterans.htm
http://www.eakles.com/111veterans.html
http://www.kim-arts.com/postcard/happy_veteran_day.htm