For both the colonists and the Algonquin tribes, this was the time to set beaver traps before the swamps froze, to ensure a supply of warm winter furs. This full Moon was also called the Frost Moon.
The term "red-letter day" originates with the tradition of marking holy days in a church calendar in red. We use the term here to designate days of special significance in each month -- holidays, astronomical happenings, anniversaries of historic events, and days with memorable folklore attached. Information is drawn from the library of The Old Farmer's Almanac.
Every month you'll find a calendar of these "red-letter days" on the front page of Almanac.com.
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