United States citizens and Canadians celebrate different holidays on on the second Monday of October. Interestingly, in the United States, people celebrate Columbus Day in honor of Christopher Columbus landing in the New World, while Canadians are celebrating their Thanksgiving.

In the United States, Columbus Day is observed on the second Monday of October in order to celebrate the anniversary of Columbus landing in the New World in October of 1492. Since the colonial days, Columbus Day has been celebrated in memory of the foundations of the United States of America.
In 1892, President Harrison asked people to celebrate the 400th anniversary of Columbus' as a nation. In 1906, Columbus Day became a state holiday in Colorado. Twenty eight years later, in 1934, Columbus Day was announced as a federal holiday.
Since Columbus Day was declared a federal holiday most banks, bond markets, post offices, government agencies and offices, and schools close on the day in observance of the holiday. However, some stock markets and many general businesses remain open for the day, partially for reasons which will be discussed later on.
Different cultures celebrate the holiday in a variety of ways.
A number of Italian-Americans are particularly interested in celebrating Columbus Day because they view it as an important part of their heritage. They may have small family celebrations at home, or join in with friends for a larger party. On October 12, 1866, the first very large scale celebration in honor of Columbus Day in New York City was held. New York continues the tradition by closing all public schools and government offices.
A parade is hosted every year in Denver, Colorado, while Virginia celebrates both Columbus Day and Yorktown Victory Day simultaneously. Yorktown Victory Day is in honor of the Siege of Yorktown during the Revolutionary War, which was the final victory.
Columbus Day is celebrated in other parts of America as well. In Latin America, they celebrate Dia de la Raza, which means "day of the race" to remember the first meetings of the Europeans and the Native Americans. Spain celebrates Fiesta Nacional, otherwise known as "National Day" to commemorate the ties that were formed during Columbus' exploration.
Venezuela has a very interesting take on Columbus Day. They had always celebrated the traditional Dia de la Raza until 2002, when the name of the holiday was changed to Dia de la Resistencia Indigena, or the Day of Indigenous Resistance, in honor of the natives who fought against the Europeans who took over their settlements. On October 12, 2004, the statue of Christopher Columbus was destroyed by supporters of Dia de la Resistencia Indigena.
Which holiday is observed on the second Monday of October has caused a lot of backlash, primarily in recent years. Some people feel that Columbus did not effectively discover anything, because America was already here. They feel that Columbus day represents a very Eurocentric view of the world. Native Americans, in particular, look back in history and see that their ancestors were abused by Europeans and that their land was taken over with no benevolent purpose. Therefore, revolts such as the one in Venezuela arise. At this point, the future of Columbus Day is rather uncertain.
Thanksgiving is celebrated in Canada on the second Monday of October.
Canadian Thanksgiving is not quite the same as that which is celebrated in the United States. The Canadian Thanksgiving began before European settlers arrived to give thanks and praises for the harvests. The Canadian Thanksgiving is also different in that it has more religious roots than does Thanksgiving in the states.
The seeds of the traditional Thanksgiving celebration began with the explorer Martin Frobisher. He was searching for the Northwest Passage, and returned home safely, unlike other explorers such as Henry Hudson and Sir John Franklin in later years. Therefore, in order to celebrate Frobisher's safe homecoming, a formal feast was held in Newfoundland in order to rejoice over his arrival back in Canada.
In 1763 the Seven Years' War was celebrated with a Thanksgiving festival, and the day began being observed in 1799. Starting in 1879, Thanksgiving became an annual holiday for the Canadian people.