If I'm not mistaken, it basically waives city maintenance fees for the turn. On a huge city in the late game, you can save a big wad of cash from it, though only for the turn.
No, I think in Civ 2, your population would only grow extra amounts if it was already going to grow (i.e., not + 1 pop immediately). Maybe that's what you meant.
I have no idea what it does in 4, so I'll take everyone's word...
Don't know why you get it, or what it does, but I guess they celebrate it when they're happy...
What day they are celebrating depends on your governent civic though.
Despotism - "We love the Despot day"
Hereditary rule - "We love the Monarch day"
Representation - "We love the Prime Minister day"
Police state - "We love the Dictator day"
Universal suffrage - "We love the President day"
It's in Civlopedia\Game Concepts\Cities(bottom of page):
We Love the King Day!
"Cities of size 8 and higher which have no unhappy citizens and no food loss to health can enter "We Love the King Day!" from time to time. The effect is that the city pays no maintenance for one turn.
...can enter... from time to time.
I like it. It's a way to get bonus income.
At first I thought this was reffering to the unhappy faces icon. But now I realize that it means the red citizens that don't work that are in the list on the right of the city screen. Thus, "We Love the King Day!" has easy requirements to meet but you must wait for it to happen by chance.
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