One of the things that annoys me most about the American government is the number of parts of our system that are based on the amount of time it takes to travel on horseback to the capitol. Mental_floss just posted an article about this earlier today, and it's a point I've heard made several times before, but I don't think it can be publicized enough. Besides, they use NPR as a source.
Between 1788 and 1845, states decided their own voting dates. Senate historian Don Ritchie told NPR that strategy resulted in chaos, a “crazy quilt of elections” held all across the country at different times to pick the electors—the white, male property owners who would cast their votes for president on the first Wednesday of December. In 1792, a law was passed mandating that state elections be held within a 34-day period before that day, so most elections took place in November. (Society was mostly agrarian; in November, the harvest was finished but winter hadn’t yet hit, making it the perfect time to vote.)
The glacial pace of presidential elections wasn’t a huge issue in the late 18th and early 19th centuries—communication was slow, so results took weeks to announce anyway—but with the advent of the railroad and telegraph, Congress decided it was time to standardize a date. Monday was out, because it would require people to travel to the polls by buggy on the Sunday Sabbath. Wednesday was also not an option, because it was market day, and farmers wouldn’t be able to make it to the polls. So it was decided that Tuesday would be the day that Americans would vote in elections, and in 1845, Congress passed a law that presidential elections would be held on the Tuesday after the first Monday in November.