Full text of 75 Yrs. of American Finance : A Graphic Presentation, 1861 to 1935 : Chart

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75 yRS.OF AMERICAN FINANCE




A
GRAPHIC PRESENTATION
1861 T O I 9 3 5

LMERLE BOSTETLER
OF
RESERVE
OHIO

IO)D£X OF BUSINESS
ACCORDING T O
COL. L6OHARD P. A V R E S




Copyriqht Mar 1936

V •

L.Merle Hosfctler

Cleveland cruet Company
CLEVELAND, OHIO
LEONARD P AVRES
VICE PRESIDENT

February 17, 1936

Iir• L. i.Ierle iiostetler,
Cleveland College,
Cleveland, ^hio.
ley dear ^-r. Hostetler!
You may feel quite free to use our index of American
business activity (1790-1935) in conjunction with the running
financial history of the United States which you are compiling,
we are particularly £lad to have our material used in the way
you propose, for your runninr; financial records should prove
of important value to students of our econoiaic history. Your
new arrangement of this material is ingenious and effective,
and I think it will prove a valuable contribution to the study
of business cycles and of applied economics.
Sincerely yours,

P

5OUft.CtS OF DATA'
DEWey'S "FINANCIAL HIST, of the U.S"
STATISTICAL ABSTRACT oF the U.S.
1
NOVES' "FORTy yEARS oF AMER.FINANC6 "
COMPTROLLER oFfheCURRECKy REPORTS
CARMAN'S "SOCIAL &ECON. HIST. oftheU.S."
FEDERAL RESERVE A N N U A L REPORTS
COMMERCIAL a, FINANCIAL CHRONICLE
MITCHELL'S"8USINESS
(Also H U N T S ' M A G A Z I N E )
THORP'S "BUSINESS ANNALS"
JOURNAL oF COMMERCE (N.V.)
APPLETO0rs"CyCLOP£DIA"(' 876-|902.)
N.y. TIMES
N.y. H E R A L D - T R I B U N E
COLUM6IA UN|U PRESS "N.y MO(VEV MKT."
ANNALIST
BANKERS' | Y \ A G A Z / N 6
BARRON'S
THE AMERICAN YEAR BOOK"

and a number of o t h e r s o c c a s i o n a l l y


GENERAL ARR-A(MCeM£NT OF ITEMS
(Subject t o some overlapping)

These are
confined to the
upper port i on
of the paq&

leqislation and developments,

BANKING affairs, POLITICAL events,
and

GOVERNMENT FINANCE

HereCROPS. COMMODITy prices, foreiqn trode.ctc.
(AGRICULTURE in qeneral)

Here*.
RAILROAD affairs, AUTOMOTIVE developments,etc.
{All auto Prod f i qur&s are for U.S. &Canac/q)
Here:

LABOR . T R U S T S , commercial FAILURES
IRON & ST66L production,etc.
This lower portion is devoted to-'
Inventions/'f irsts] and many miscellaneous items which had
no effect on the course of business, but which are of \ntcrzsf
in other respects.
In this corners
Additional it-ems pertaininq
1-o the particular year or
period.




Events abroad qre confined to this space
Few except/ons(\Vorld\Var,etc.*)

LEGEND
+ 20%

CONGRESS

(double w/6th)

+201

Reqular Session- Special Session

Ratios shown
here are,

±jo%

AVR65 1 INDEX OF

Business

Above normal

uote

: 4

(A production Index)

1

fagf electoral)

NORMAL
Below normal
— IO«5l

DEFINITIONS
-20%

-3O%




-20%

"NewhjqhV'Rccord low", "Unprecedented, etc.;
denote that the previous record was broken
Note-Only'All-time hiqh"& "All-tirne-lo\y "denote, that
the record then beinq establi shed held
thru-out the entire p e r i o d I 861 - 1935

Nov. JO
118.2.1

DOUJ-JONES INDUSTRIALS
1897-/935
yearly hiqhand low
cole : 2Opoints per inch
(Top
\ /
p of this pacfe = 24O
=
Bottom
o)

July 10

SUP. CT.

S£(N.

H.R.

REPS.
C6RTS.
S

F.R.
"ON 1ST"

U.S. Supreme Court
U.S. Senate
U.S.Hse.of Repr.
Democrats
Republicans
U.S.Treasury

CertiFicatzs
N.y Stock Exchange

N.Y. Clearinq House
Federal Reserve
Nominate
On 1st ballot
Deaths

-30*

Jan.

Feb.

May

Mar.

"Lame Duck-

Apr. 12

June

July

1861

Aug.

Sept.

Oct.

Nov.

Dec

Auq.5
I U.S.INCOME TAX
(effective. 8'/-62)
px Mar. 1865)
ST
St.

Jefferson A6rar;am
Davis
Lincoln
PUBLIC DEBT
*75,O0Q0O0

I6OO STATE BANKS SOLE SOURCE OF U.S.PAPER CURRENCY
(a rather awkward situation)

'That was not our understanding"
~~~^ SPEC
-Banks to Sec Cljase
f/ SUS
*—— the. winner /

1

SOUTHERN REMITTANCES TAPER OFF RAPIDLY
»
Many"StopandStay'Laws
COV'T. OUTLAYS BEING FELT IN N.Y &N.ENG
MANY COMMERCIAL FAILURES

SECESSIONS
Fla. GaTex. beforeSummer \ Qfter
July 21
Va. Ark. N.Car. Tenn.
Ala. La.
. BULL RUN
M i ss
(So ?tsnot gowq to be
a short mar after all)
(^SCar.inDec)
seejkc
Cotton

Cotton no

*e/>ic)

IMISSISSIPPI R. BLOCKADE GIVES R.R.S A BIG BOOST
June 28
Cent Pacific incorp.
at Sacramento

Dec.8
thx TRENT '\
Gee 2863)

Jan 19
KAN. admt'd.
Fzb 26
•
NtwVorkgets
daily wail delivery

This
Year
st
WJStewrt opens l lL.S.Dept Store (inJV.Yj
lai/Borden opensl^cawiedmilk
factory i
c
^practical use of Power rockdrill'(fAtCenis tunnel)

Where
are 52,000 Otznese in Calif.


July I
OctZl
PONy EXPRESS Q^issioonJisplacedby^ TRANSCONT.
zstab.
TELEGRAPH
Auq.29
Q A
Jsf U.S. oil well UVa votes
to secede]
r
ts Zyrs.old
fromVa.and fo6ecalled Kanazuha
(Crude-L0*perbb1)
(see 2663)
J
(see/865)

Jan.

Feb.

Mar.

Apr.

Feb. 25
LEGAL TENDER ACT
*/50,ooopoo Greenbacks
authorized
(see July)

z.30
IE PAYMENT
'SPENDED

iow

May

June

July

1862

a sidelight:
"State taxes rnust be
paid in Specie."
-IlLSupCt

?

Aud.

July II
l50,000.000 more

Sept

seeJan

>

Dec.

Nov.4
Demzmakelaryc
yainf in the north

^ „ -* * * *

3#7az ^?7f manufactures
^.••—-~*
effective
WAR COSTING *2,000.000 PER DAY- NONE OF IT BORROWED!!
(see green back?& taxes)
^
thisyr
" Commercial Failures only lA of 1861
>

jtonnqwar E n ^ | a n < j Forced to t u r r

July
(now 564) (seeMayl86+)
(Commissioner of Internal Revenue created)
All RAILS & CANALS showbig earnings this
July I
UNION PACIFIC chartered
and subsidized by ConqreSS
Mayl869) *

year

May 20

HOM STEAD A C
(an aid ioRRs)

July 2
Sep+. 12
LAND GRANT ACT
Frisco Stock EXL.
(aid to Tech.<£Ayric Colleges)
opened

N.Y'Frisco rates
*5.95 1st20 words
The South begins to draft
M or. 4
MONITOR VS. MERRIMAC



Nov.

GOLD MKT.
•»
estab.
Gold-123

Gold now 103/^ •

C O M M O D I T y PRICES
July I

affair

Oct.

July 28
Is* Railway mail car rait
(Hannibal S t J )

Jan.

Feb.

Mctr.

Apr.

May

—'Lame duck'—

* 100,000000

July

Auq.

Sept

Oct.

Nov.

Dec.

I8v3
JAY COOKE

Jan.17

June

More-

S

400p00,000 worthof 5-20S (6fi)for 3fc1° commission (tobanks <* investors)
NY.Sup.Ct rules against Legal Tender Act see^7c;—>

the last-usedto
payarmyetc. NAT.BANK ACT
" end of greenback inflation)
OfficeofComptrder created
Gold 160

June 20

but

STATE BANKS ficjhling extinction (SeeMar.1865)

June 30

PUBLIC DEBT

TWVJ

*l,097,O00,O00
Treas has topay
(f0f;paper -money)
^51* for two year
[
\Stklt6S) yJ ^
fund$

see

f

— Commercial failures O7dy/io of 1261 I!

assets in US. Gov't. Sec.
(see July 1267)

to lndia,Eqypt & Brazil For cotton
Crude oil *2.00 bbl at

(seemt)

Penno. prod. 5,000-6,000 bhls. daily

The a r b i t r a r y rule o f A bra h a m Li n c o i n i s w i d e / y c r i t i c i z.ed
Nov./9

Jul^l-3

Stereopticon being intro.

CPTTy ^ ALJRf

Ju/y9

This year
July/3-16
Nat'l. Acadof Sciencesfounded
T RI
\ LertoirCFr:)invented ahi/dro carbon
motor
in
NY
DRAFT RIOTS
* 3 fNewYorkers report incomes of s/,ooo,ooo and over
Aud. 3
l* Labor paper appears(Fincher's TradeReview)
June 19
B. of L-E formed (a$an insurance Ass'n)
w
;Digitized
Nobel
u$es Tiifrocjlycerin for blastina
for FRASER


ication

" ^ ^ / o u ^ 0 0 ^ m o r e encouraqiny
L>~P'
by Lincoln
m .
9
1&.K. p0tatoes*10- /5 bum Richmond
^c ^ x
o o u
(inflation 3c scarcity)

,„
HeKry Ford

Jan.

Feb.

M\a\r.

Apr.

May

Jun<^

186+

Aucf.

H

Sept

Oct. .

Nov.

Dec.

Gold:,

Total issue *soo,ooo,ooo first gold Czrts.

*

July

July 11^

itfued (see 1913)
only
*ztoootooo Noil Bank
notes in circ.

PAPER H V

5ept/a

(all time low)

(see Mar 1365)

Nail.Bank notes nou)
issued at rate of
*2,ooo,ooo weekly

The SHODDY ARISTOCRACVtf//

but high price? A rumor? ofpzace check

July I
-War c o s t i n g nearly *3ooo,ooo d a i l y
"* DUTIES
German? buying
Sec.
» June 6 uPPedS0'°
yg 7nam/US.Gor/t
yU
(attracted by hi
Keps.Non.Lincoln
June 18

Atlanta fall?
Aua 2 6
DemZMomMXldlan(i 'bal) N/ov. 8
-COPPER HEADS active
(in Dem party)

Lincolnmekcted

Wheat h.95
V

Cattm 81*-^
LoltonSlt
Cotton tax raised
**
to Ztper*
EXTRAVAGANCE THE ORDER OF THE OAY IN THE NORTH
COMMODITY PRICES fluctuate atveryfughilevds see Feh
(exceeded only in 6 mas. of 1920)
Gov't. contract^ a great aid to meatpacker$(in JAidWkst)
7
l
(see Decides)
July 2
US.Mfrf. obliged to foreoo .
NORTH. PAC R * CHARTERED
foreiqn
locomotive orders
1
(no subsidy fh
(too busy)
(fieeFeb.1870) — >
April
IN GOD'WE TRUST
appears on US coinage

JU

!Y5
Soofloo men drafted
(require*3SO,000,oo6to buyfu,b\
)
(if pofitible)
nern currency opproachincfJ demoralization
This Spring
Jst BeSSerner Steel madezn US (experimental)

Delaware created her I'+staU debt
Oigar'rnaJferJnternaflunioTt ora
M
/0
90
trains
arr
s<
depart
from,
Ch
ic.
daily
^

st
Nitrouf-oxide
l
u?eda$anajnesthetic
Hawthorne


\iufy<3

I "steel rmCproduced in, US
(m ia)

Nov. 16
A me r Iron & Steel
ASS'nformed

Nov. 1
Postal money ordar
e$tab
Oct. 31
NEVADA adrnt'd

Jan.

Feb.

May

Mar.

June

July

1865

"Lame Duck"

ATT

Sept.

Oct.

Nov.

Oec.

Mar. 3

Income ta-x raised to '
sio on *6oo - *s,oooper yr I

^530,000,000 73tGov'fi bonds sold

10% on incomes over *s,ooo(seeMQrl8t>7) (a remarkable
Mar.3

performance)
Ju/yjl

^ P U B L k DEBT

State banknote tax act\

^2,8 74,000,000

*-seel8(*l
$& LSE surrenders %%%
AAarA
Lincoln's
Jnawj.

(cash in Treasy.*/(7,ooo,ooo)
S. Jan.l88ZZJunel8t>7*

/S79Nat Banks
have now been oro.

Dec.
Con qress tc
gradual reti

(ft.RvottsM-6

1,000,000 men ret. to constructive work

LINCOLN
|

COST OF LIVING HIGHEST

COUNTRY'S HISTORY

I Problems.
f
Deflation
I
Demobilization.
I
Specie Resumption

ECONOMIC CHAOS IN SOUTH

Dcc.2
SO.PACIFIC R.I
Feb.4
•
Charter issued to
Comstock Tunnel Co.
(sec Oct. 1869)

J8,ooo tons of steel produced this year

KU KLUX KLAN orqanized
1st Nat Bank west ofRock/es(PorllandfOr€)
Woltham making 300watches perday
MarshallFieldZCo. estab.
I
May I
ofRRin
NatAssnofwoolMfrsorj.
(seeMar.J8cij

http://fraser.stlouisfed.org/
AccidentInsurance offeredforlst timt
Federal Reserve Bank of St. Louis

chartered

Dec
Chqo.Unioi
ope,

Feb.

Jan.

Mar.

Apr.

A/lay

June

July

Au

Sept.

Oct.

Dec.

Nov.

186b
P r e s . J o h n s o n & C o n d r e s s begin to split on reconstruction
conservatives unite behind Johnson
Nafl Bank Deposits
andperiod of rapid yrowfA ends
^^—>
(new high)
Mar.
takes steps toward (seeOct)
:+irement of Greenbacks
t-6) (see Feb. 18£

this mo.
£16,000.000%

Moyll

..-"*
*

„
* -"

—

qreenbcLcfc cancellec
(seeFeb.1868)
VIOLENT SPECULATION IN U.S.

Overend -Gumey
failure
S P A N I C in England
It
bank rate holds at lot ft—1

'

(many "Cliques")

+35J0OQ.OOO gold

ezptd. to Bn<j.

US.INTEREST BEARING DEBT REP. BY 95 SEPARATE ISSUES

thlS 7710.

MYS.E volume
4000,000 sh.

California COLO S H I P M E N T S Art 7yrhigh
(were interrupted by Civil VJar)

new high

This yr. income tax collect! on5 h i t peak
*— see Mar. 1865
*7 3, ooo, ooo

ttlisfhll
3 biq textile failures
in N. £71 y.

POOR GRAIN CROP
July 13

Cotton tax boosted
to 3 *per & (u npo/Dular)
this mo.
ATLANTIC & PACIFIC R.R. see Ah ,
chartered
(subsidy'42,ooo,ooo acres)

>.R. see cfuJv

25

>n Stock Yards
zned

Apr 6
G, A.R. organized

July 27

ATLANTIC CABLE
completed (at last)
J u n e 20 (*l™ see July 1819)
WewPubtedqer Bldy.
opened

Illinois Central longestR.R m U.S. (70S mt)
9 th Ave "El construction begins
Western Union bought out oldest competitor
1st Federal Irriqation Law

IN)?merchant reports income m excess of+iooo,ooo


Cotton down
to3S*(ALy)
(set Dec. 1817)

Noy 2o

lstGARConv.
(atlndph)
Dec.6

Chqo- watir worAs
tunnel completed

Mar.

Jan.
Fefc
-"Lame Duck"

Apr.

May

June

July

1867

Au

Sept.

Oct.

Feb 6
Mar. Z
introd. passed
RECONSTRUCTION A C T (andoccasional amendments *)
(unsatisfactory to business interests)
Mar. 2.
U.S.Gov't Sec now only 3of<> ofMat Banfa'resources
(*~ see

Income tazes

cut

A n n u a l intzresf

(see July 1870)

CONSTANT

Ju/

9

Dec.

Nov.

l863

J

On Iy 10 Nat Ban >
have failed
(5 urs)
(see Jan.l87lJ

on U.S. p u b l i c d e b t $144,000,000
(new high) (see 1920)

AGITATION TO PAY P R I N . * I N T . OF G O V T . SEC.IN PAPER M O N E Y -

Gov't Sec.noiu traded onN.YS.£.
Price of qold steady oil year
lrondectnecl
28% ^
Cotton " " 50% \

^

^

W H E A T

still very hiah-*Z35 J ^ . ^
J r
* feT&??'

Marl

GRANGE organized
(patrons of husbandry)
7

Tariff on wool goes into effect

see 1871 SJ87+»

Sept. i
Cotton tar cut
toi'ktper*
Railroad c o n s t r u c t i o n breaks pre-war record

Fcb 22 Vanderbilt becomes Pres. of MY Cent*. (Albany to Buffalo)

Pullman Co. organized
Ft bid
Last Rev. warpensioner dies
Mar.3
ALA 5 KA purchased
(87,200,000

inoold)

Thisyr He
Siemens (Ger)deu. 1st dynamo
Dynamite invented by Nobel
1st locomotive enters Nev. (from west)
UJindmills appear in marker
Brewers beam to note temperance mov.
Uoll of'Das Kapital"pub. (see 1885)

Nev. issues *5ootooo $yn 15% gold bonds


Auq.16
Credit Mobil
makes fraudulant contract
with UnionPac.RR.
Indian bcdtle
near Omaha
Oct. 3
>

At Pans Expo,
Eiias Howe
medals are toon by
US. Locomotive
" "Sewino machine
solely utilitarian
Harvesters * mowing machine
"Pianos (Steinway& Chicken no)

Price of COTTON
back topreivar
levels (inq old)
(IS* NY)
Nov. 13

arrives
(from Omaha)

Jan.

Feb.

Mar.

M

Apr.

ay

June

July

1868

AU

Oct.

Sept.

Nov.

Dec.

Feb/f
Further Contraction

mks ofG re en backs forbidden
(minimum fixed at 83S6.ooo,ooy(see Apr 1874-*y
Johnsons impeachmentpendino
Defeated
Excess Reserves 43i»(f73,ooo,oo6)
(16 40 Nat'l. Banks)(see febl869)
Reps'nomGrant Denis.nom. Seymour
(onlstatChoo)
(on zzd atNy)

Nov.9

'-REASONS ADVANCED^.Bondholders had taken aduantaye of Mat distress \Demplotfa
2. The bonds didn'tspec,
specify gold'Ibhi/pay in qold ?
(with a
3- The people are ouetburclehzd tvithoixt tfiis exirahad hard'money
-f.Currency ofplough'holderyoodenouohfor bondholder^ candidate??)

Grant elected
30-27

(victory for conservatives)

EXCELLENT WHEAT CROP*

best- COTTON CROP since prewar
times 2t5oo, ooo doles (see 1870)

Feb.3

EUROPEANS HOLD APPROX. fl 1,000,000,000WORTH OF U.S. SEC.

1,500,000 bu

Cotton tax abolished
(sieFeb.l872.-j

wheat lockea
in ice in
Brie Canal

the BATTLE OF THE G I A N T S (Drew us.Uanderbi/t) —>Erie resorts to secret stock issues
(seeDec!872)
(seefeb.1869 3<DecJ872) Dec. 19

NY Cent A

80% stock ck
A/lor 31

1st Chinese Embassy
arrives (in Frisco) >
Sulpherdiscov in La.
"Atlanta Const"founded
decoration day 1st celeb8 hr. day estfor Gov'tlabor
iDestinynouse airbrakes intro.
Subway
proposedforMY
fi ano-fortes
sold on installment plan

http://fraser.stlouisfed.org/
1st.
dinino
car
Delmomco 'run '
Federal Reserve Bank of St. Louis

,

3% Tux on manufact
removed
Ocf.1862)
NY bricklayers

t

.

(Hidm<)htdir.fita)

strike

sealers for lOhr.day

want *4so " 8 " *
(see 1923)
July 27

tettercarriers mmtwearUmr
XHlAmdrnt ratified
(citizenship rights)

f 23,000, Cfc

this fall
Comei

|

U

opmtd

Jan.

Feb.

SAor.

Apr.

May

June

July

Bronson ui-Rkodts
(Goldcontracts are valid)
•Sup. Ct M ar. 18

Aucf.

Sept

Oct.

Nov.

Dec.

U.S.CREDITa? new postwar A ioh

(all US. obligations to be paid
in com)
(Repub. campaign pledge)

UNCERMINTV REGARDING LEGAL TENDER DECISION GROWING

Excess Reserves now 5 o% (#93,000,000)

(see Fed1870 ^f

'

Sept. 24

"BLACK FRIDAY"

Marf

and
henceforth tmdin<] in the Gold Room dw

Grant inauq.
(Presfordi/rs)
(see 1877)
Mar.3

"Suprise Calls"for
Mafl.Banks
enacted

here
RocX Hand R.R issues

Adolph Sutro begins work on
Corns toe A Tunnel (see Apr1873)

1

*2,ooo,ooo stock secretly!
MOST R.R.S HAVE WATERED STOCK IN LAST 2 YRS.

The long decline in commodity
prices begins to imperil freight rate
schedules
(see Commodities 1865*1879)

Jay Cooke agrees to underwrite
M gy/O
the A/or. Pacific R.R.

the GOLDEN SPIKE
driven near Ogden Utah
July 1870^) \ *
(see Julul870-y

\i

-K

lasts

,

A PERIOD OF HEAWR.R. BUILDING STARTS I T ^ (see Sept 1873)

Jorseveralyrs.

Poienf

land.gran±

lobbies

for3zveralV*?

m1bashinqton

June 27

oays
lividend
>oo

1st Bank in
S.dah
founded

NowPenna.RR&Ny.Cent
both make connections
luilh Chqo.
(via consolidations)

istRussian oilweU(£aku) H 0 U S £ * E N J i . B E G I N
Tunnel under Eng Chan.proposed
y
Roller skates invented
Non-automatic sprinkler systems common
hiy.'Prisco travelling time 6da.l7'Ahrs
Whip mfg. is a bio business (85* to *600perdoz)
Nat'lrrohib.Panu orqat Chqo.Sept 1,2.

W.U.owns
90% ofallfeleoraphtine$(seeOct. 1878)
http://fraser.stlouisfed.org/
Curve pitching mtro. in oafeball (see 1876)
Federal Reserve Bank of St. Louis

Nov. 21

SUEZ CANAL
opened
(dislocates trade routes
This/all.
1st continuous wire-rod mill opened in US
(for
and rope wire)

US-France cable
completed

founded by 9
tailors (inFhila)

Dec./o
*
Wyoming grants
women suffrage

Jan.

Fzb.

Mar

Apr,

May

June

July

1870

Auq.

Sept.

Ocf.

Nov.

Dec.

Tdb7

HEPBURN w-GRISlVOLD
This case willbe reuiewed"(seeMayl87i)
legalTenderAct^ is noiretroactive &*
'USAtly.Qen.
July 14
"1,500,000.000

s^Xhu REFUNDING ACT -Refundinq requires 9yrs A*ff*7Q*
- Many refandtna bilbbefore Conaress- & ^
(newGovtbonds Jjuinrmii-*
Apr.1879
seeMarI871
(aimho reduce int burden of Cw.lDardebt)
tobe tax exempt)
(a/srofsftooofoco aad^and145newbanks in So.zU. tajce up this circ
Nat'l Batik notes author)
July /4
INCOME TAX

Country banks excess reserves now 50?°
(see Oct 1872)

cut aqain
(to 2'k*kon*2,oooi)

U.S. PUBLIC DEBT reduced *l91,000,OOo".
(6°fo Gouts still at a discount)
WHEAT now down
to 76i
(+-see 1867* 1883+)
Feb. 15
NORrPAC. construction A n 7
begins (see Sept.1873)
K''
7
Feb.9
1st HOLDING CO. ora
Jan. 3

(Penna Co) (To operate lines
loest of rittsburqh)

Cotton crop has returned to pre-war levels

«
July
1st through car
arrives inA/.Y
(from Pacific)
(~seeMayl869)

(9yrs)
7

J

Dec. 20

1st R.R. POOL
Trunk lints
(ChqorOmahd) ^ ^
^ discuss po
Increasing agitation for
RAILROAD REGULATION

Ju/yl8

EH.Harfiman buys
BROOKLYN BRIDGE
N.y.SE seat for*3,ooo
const beams (see 1883-+)
(see Jan.l881->)
This mo
seeMar J87J
StdOil'CoofOhio incorpi* starts to absorb all cornpetitorsfsee 1882)
FRANCO-PRUSSIAN WAR beams
'
Mar.3O
(Interrupts foreign purchases of Am securities)
JZAmdmt ratified
^^(/Votaoly Nor.racific)
(eguat suffrage)
^ ^ ^ ^ (see last Feb)
Sand blast/no invented (next am'dm't in 1913)
NAT'L.WEALTH *31,000,000.000
life Insur. inforcc'g'2.263,ooo,ooo/see J929-J




I Chgo-300.000\

Ctive. 93,000)
\Defr- 8Q0001

Oct. \Z
R08T.E.LEE

Jan.

Feb.

Mar.

Apr.

"Lame duck"

,

May

June

July

Aucj.

Sept.

Oct.

1871

May (

_________
U.STREASV 5URPLU5

KNOXVJ.LEE

"Greenbacks are U9al Tender
A/lar.6

d is specified
spec ified
unless Soldis
-Sup. Ct(S-4)
May 27

..^__._
.
_ __ n
now!!
U.S.GOV T can borrow a

nearly*ioo,ooo.ooo

N

worth

'

(Payable in coin, int.payable quarterly,
completely tax-exempt)
OnlyllNatlbanKs
_ _ ^ faileJinByrs^

•

^ ^

INTERIOR BANKS GETTING 4%ON N.Y BAL-ANCES —

Many Hail Bonds uieldino 7,8,9,10i*
(in over-supply & tiyht money)

Gold-10 8'/
(newpostwarl
(seeMou.187

This year

END OF EASY MONEY

4 NY savings
banh fail

Poor wheat, corn, & cotton crops
Automatic self-binders introd.

7453 M i . of R.R. built this yr. (see 1875) Q

Mar.J

(new record)(cost ^2.75,000,000)

Ga,S.Cor.A
repud/atepi
(carpef-6ay
f g

Aff/eaoe has noiv douS/ed since 185 9 (12 yrs) G rand Central
depot opened

fin MX)

5 challenged in the courts

(seel87yi)

CHICAGO FIRE
/05S' ^200,000,000

Fr.Prwar ends

Moy9

( M a w , W Co.s suspend)
_aty of Paris
^ 5 7 o w / J25>*
(Fr loses AlsaceLorraine) andafter 11yrs ofdistraction Europeans start
' July 1873)
competing m world grain markets
July 2 2
Oct. 28
Tweed Ring see
Boss Tweed
arrested
A sentenced
exposed
*
(*itoootooo bail)
here

1st Steel Foundry built (paidwaoes on tonnage basis)
Paterson.NJ. now US silk center (close to NY&Phila)
PaRR now richest corp.in US.




Huge forest fires
(mMkh.,U)ist,i.Minn\

Mar.

Jan.

15

Apr.

June

May

July

Sept.

1872

Oct.

Income taxes abolished
(yielded*3+7,ooo,ooo) (see July 1894)
some

consequences

-1

Only 8,000,000 silver dollar
have been coined since
GUhht's
termtso

* Du ties on tea &<
coffee removed June. 6

3;// totorefund
BUI
refundall cotton fazes deft^^T*
(*68, ioofioo)

§tffai1emotd)^Uar.mz)
Oct. 3

General stringency in money market*
E x c e s s R e s e r v e s disappearing Reserves at 15 yr/ow ^>
c

IT low)
J

' Many state bonks
ks & trust Cosforminq
(no Fed
in Mlno.
Savinas b
banks deposits
3 times Nat1/, banks

Nov. Dec

1st OEFICIT in bank
reserves appears

June 6
July 4
GRANT rtnorn. Dems. nom. GREELEy

Nov. 5

^*has cut taxes,etc*3o9,ooo,ooo&
reduced
debt *3<>5,ooo,ooo11 - ^ —

GRi^NT re elected3(. 28

Nov.29

HORACE GREEl

Europ. demand for U.S. Sec. fallinq off

*Foreiqn funds on calf in Wa
-40,000,000//

ENORMOUS IMP0RT5 thisyr

see 1873

N.YBankers & Jobbers arantiny longer terms ft> So & West merchants

VavoUto e ^gfCREDIT MOBILIER exposed
(see 1867)
(ReDelations impede

+0 new BL-AST FURNACES built this vr.

7

*]!zTl(seeAPrim)-873)

^ould

gives

*9,OOQOOO

to cm

4-Ur/ynt^ninQ—¥ ^siop « nr
'-Baldwin making500locomotives per ur —
*
^ Iron rail Prod. 800,000 tons
Copper corner^evolopin^
(a/I time hiyh)
Bldo. construction in NY only'/zof 1871 this
Marl
EPIZOOTIC'EPIOEMIC
7o.ooo men strike in NYC.
XELLOWSTONE NATX
amono horses
PARK
(impedes trade, drayaoe)
created
/5f o/7 restriction plan proposed
.
(Crude *3.30 per bbl)
A
Westmahou.se Eke Bus. esfud
RRf)assenyer cars heated by stoves
June IZ
/s/U.S'OQSpipeline
\ bridges (over navigable sfream^forbidden
Newton Wells' Titusvi/k
i5f cloth-cuttino machines installed(Staten Is)
Calvin Coolidoe
MontQomert/lUard
begins to sell too rangers'

born
http://fraser.stlouisfed.org/
State & local debts #900,000,000 (up 350% in last 20 yrS)
Federal Reserve Bank of St. Louis

award
(*is,5oo, ooo)

Jan.
Feb.
"Lame Duck*

Mar.

Apr.

May

June

(Soon to be referred To as the
CRIME 0 / 1 8 7 3 )
„
coincidence

Mar.3
"Salary Grab'act
a/so
Pensions raised

July

Auq.

Sept.

I O # %J
J
9
; V'/
-. adopts qo

Oct.

Nov.

Dec.

sf/ve

r

' Silver Prod'435,JSO.OOO
{dbld since
(doubled
i 187O)(l8
187O)(seel87Q)
NY bank deposits off 4-0 °/o
May 9
$26,000,000greenbacks i//eqci//y(?)
PANIC in Austria
Much
lnf

Sept. 18

savinqs banks makinq loans on securities
JAY COOKED CO.
Ap#r. 26
Mar. 15
fail
Gold-iO(,'/e
5 ept 20
(jiyr. low) (see J877~*J
BULL'S HEAD BANK
ATLANTIC NAT'L BANK
?8
fails
fails PUB.DEBT REDUCTION UNION'TRUSTCO.
stops for 6 years ~>
fails
Oct.3O
ELEy
foewv.l679-y
9/20 9/30 HOYT-5PRAGUE
while (aebt rises'/iofj yo clurwa N.YS.E. cfos~e~d frlurefi/G holding Co)
depression)
_ # y Clear. House Certs _
AVERAGE LIAB.PER C O M M . FAILURE
issued for 1st time
£ 4 4; 0 8 6 (all time high)
(see 1905)
PAPER MONEY'.!
(11 yrs)
march
m Chqo.
n
Commodity prices
hitllur low
Ju/y 22
ft.
(since 1862)
(see 1865) (see Apr 1879)
Nearly oil t r u n k lines poyincf /O% dividends B.&Q. starts workon
D
Piftsburo-Choohne.
ts up
7o,ooomi. ofRRin US.(see 1880-j
^
constr. stops
Apr.
Feb. 18
(atBismarck.MDak)
Nov 21
PIG IRON
•
(see J Coohe above) HOOSAC TUNNEL
has receded
Indiana formally
(seeAuo.l87S) '
comoleted
to ii2.00
repudiates her
(after
17yrs)
(see Dec. 1874
Jon 14 canal debt
2 Gov.s lnauq.
Oct. 4
in La.
•
Beth Steel starts
to make steel
1st COMM • TyPEW RITER
manufactured
(Re mi no ten B rosj
1st JESSE JAMES
.,
Nov. I
tram robbery
Frozen meat bemo shipped h Enc.
1st forcable
Digitized
FRASER St Rwy mstaJled(tnFnsco)(s^tlQ91 -}
http://fraser.stlouisfed.org/
1st
land
offict mMunitoba opened (10 mm peg)
Federal Reserve Bank of St. Louis

Jan.

Feb.

Mar.

Apr. May

Sen. H.R. Vetoed
(Bill to increase

June

July

187*

y

Au

Sept.

1673 greenback expansion
legalized, ana

greenbacks to $400,000,000) $55,000,000 new //at'/

bank notes
authorized
?)reissued_

Oct.

Nov.

Dec.

Nov. 4
REP.5 defeated atpolls
(1st time since
1360)

This summer
SILVERRATIOooesou^ 16:1
(for 1st time)(see 1898 )

nflarion

TREASV SURPLUS
y

hits new postwar
1OID($Z,345.OOO)

(see Nov. 1879)

July
Gold discovered
m the Black Hills

1st favorable BALANCE OF TRADE since 18till
(11 yrs)
(see 187Q)
500,000 men out of work due tohaltinR.R. construction
Baldwin makes on/y 160 locomotives this yr.
Lake Shore
passes diu
PIG IRON
rclim

From a relatively low level
($600,000,000 tn default) *

Mar.

l 8

now down

k Q 25 v
" Raih qet adverse
1 u^^^s now start a
7
s0^> decision in IVisc
Rail bona:>
^ (seeFeb.1876)
Many states arrant/my to regulate railroads

to $2+00

perT
(«-see Apr IB

GRANGE riow has 1,2.50.000 members

1stElectrical/yc/riven vehicle ('Salomons-£nj)
B.&O.reache:
Chicaoo

http://fraser.stlouisfed.org/
Borbedwire
now
on market
Federal Reserve Bank of St. Louis

July 4
BADS STEEL BRIDCE

at StLouis opened
(7yrjob)
A u

q ( O

Herbert Hoouer
born

Crises in Ger^AustfiRus
( S d / / )

Jan.

Apr.

Mar.

Feb-

May

June

Lame Duck"

July

Sept.

u

1875

Oct.

Nov.

Dec.

Election

E RESUMPTION ACT

Janl W79

SOUND MONEY

'

(deflationary)
also 'Limit on Naff, bank notes removed (inflationary)
" " .Permits bond issues to secure oold
(see 189+
1
but-Fixes no minimum qold reserve !

party wins in Ohio

SOFT MONEY

party now turns to
stiver

Mar. 4

U.S.GOLD STOCKS

sec

approxfioo.ooo.ooo
N.Ystate

canal tolls off50% from yr.acjo

COM STOCK LODE at height of production
(Silver in $ worth only 9b.l4-j
. 25
Gov't Sec. & AAA bonds in qreat demand

fails
Feb. 22

UPr82%
Nov. 2.9/
Sup. Ct rules infavo
of Pacific R.Rs
(*-seeJan)

May 26

U/A6ASH R,R.
//7/-0 receivership
(Assess Wt'.$io.persh)
"U.P-36
Rises all yr.
.
(Special case) [see Decry

NOR.PACIFIC

ERIE

sold at auction
p
into receivership
(see 187 9-+)
(seeAuoJ876-y
< fhisVr
Railroad c o n s t r u c t i on hitslOyr.low
(only7 1917 miles built)
(see 1880^)

this

<- No new Cap.HowinO

\87j}
«—7,7+O Failures this y e a r
>
Lonq bread fines in N.Y
(newhigh since 1861.%u
& Sepf
W a q e s d e c l i n . n q all yr. — *
1*000 cotton mill Lose
hands strike against
waoe curs
<

hAomtary

crisis in London
June 2

^European Central Banks a c q u i r i n q q o l d —*•
5ef)M6

TELEPHONE invented
^ ^ ^ (see Oct. 1876-*)
lUhiskey Rino frauds
exposed
1st AB.hconvention
Brush
invents an arc lamp and dynamo

http://fraser.stlouisfed.org/
1st
refrigerator
oar (with meat)arrives mEast
Federal Reserve Bank of St. Louis

Fast mail trains
infrod.

Dec. 20
nt issue

Chqp.daily

Feb.

Jan

Mar

Apr.

May

June

July

1876

Autf.

y

Sept

Oct.

Nov.

Dec.

July 22

SeveralFRZE COINAGE bills mtrod.

Coinage of at least $10,000,000
$ author (to retire kc/al tenders)
H.R. tries to repeal
June / 4Resumption Act
At CincinnatiReps.nom.Uf\YES * ~ s e e 1 8 7 5 W9
Nov.7

'Qft/

*

^
T , L D E N af 5r Loai5

but

PfiES. DEV

PopMaj. 13 \ 40,
EteCtoral vote disputed/

M a r. 15

BankofN.Yfails
Darnel Drew" "

Bank failures in C h i c a g o
A

5

_ in U.S.now 4e2&~Bank profits at low ebb
(Few
new
ones
orq.inneiLt
4yrsr*)
1
(see 1897
N u m e r o u s N.Y s a v i n g s b a n k
Sept. 2Q

>or

into rails

failures

D.& LAV.passes dw.
Serious rate war (Trunk lines) "BO". "CN". T. & "Pa. N.YrChao. pass, rate tib.oo D e
HOP into foreclosure
endo-d bu
Only 2856 miles built this year
^"and^
r
^°.
freezing weal
"passes div.
("toJyfiqht opposition")
r
9092 FAILURES this ur

(newhicjh)(see 187 Q-*)

cuts divide
to $6.

- Me^POOLLV OO-AGUIRES "exposed & wiped out

(Operated in the Anthracite fields)
see Sept.

Amah.Assoc.of

Bank of Enqoold reserve

>

at record hiqh.($i7O,+oo,oo6)
(Up 26%m lyrs)
CENTENNIAL EXPO.atPhila 10.000,000 vis?tors
W
J

(Aid to US. rails)

$

^

-

l

Octa

^

US taxpayer)
June 25
5e// offers patent toW.U (295 di e)
n icTce'c M A c c A r DC
(Ger.)invented 1 cycle engine
CUSTERS MASSACRE *for(seeApr.
( $ioo,ooo-refused
A V




J

Jan.

Feb.

Mor.

Apr.

May

June

"LameDucF

July

Auq.

Sept.

Oct.

Nov.

Dec.

1877
Apr 6

INFLATIONISTS

June9

TO sell f% bonds, but

y

(fs o,ooo,oov 9o/drec'<1) (see Apr.1*)

Oct.6
GOLD : 102/2.
(low since. s/?/e)
fseeDec.18784)

Mar. 4

GohdRoom disbands
Hayes
i
. but has a hostile Congress

Nafl.Banks hold '/e oF U.S.Cov't. Bonded Debt
Many Sovinds Banks & other Creditors are "Land Poor"
bS

€to?//

GQU

GOOD CROPS
i low aqricpnees)
(^-somewhat ofa
novelty)'
MY Bank deposit*
hit 15 yr. low

' T > exP£(M
(only )

($1^7,000,000 in Nat'lBanks)

(*-see July 2866)

NATIONWIDE R.R. STRIKES
(i-th io°/o cut in + yrs)

os S
SO L DD AT FORECLOSURE
F C L R E

JliilML

— £onds,Leases,z, guarantees of 287/-3 causino trouble —
Many investors learn that 2st Consol Mtqes. are not istMtges.

N o v. 2

Mar.,
Anr A
A Rr. 6

COR(V.VAND6RBILT

^ - ^

rfw

•

^

t07//l

Bk of France
(see 1932 -*)
cuts rate, to 2% (This yr a N.YSE seat sold for
(unprecedented)
S zeoo.)

— O n l y I 38.OOO im

D£NNIS KEARNEV influential(West
Mor.

WALTER BAGEHOT




lsi

busines

Aug. 29

hone

Boston-Sorneruille, (2
OS IVilliams-

icianj

VOUINC
Sept. 20
f/zflse Nat'l Bank
opened at Ul B'u>ay
(rent $1 so per mo) '

coast It

Jan.

Feb.

Mar

Apr

<

this r

y -—

ICONTROL BOTH HOUSES
Vw

SknHR.'/ie

May

June

July

Aug.

1878

Sept.

U.S.Silver Prod-. $4-5,000.000(vs.$1,000,000 inl86l)
M n v

~ - ^

Oct.

this i/r

,,

Dec.

Nov.
x

(Ekctwrft

May 31

of Greenbacks
BLAND SILVER PURCH.ACT Cancellation
shall cease"- Con a.
passed over veto
to buy *2-*,oootooo worth .
(at t3 46,68L.0lb'J
monthly
^ ^ 4 ^ ($ 35,ZL9,ooo had been retired since, 1874)
Apr. ^ " ^
Sec'u. Sherman
,

15 Greenbackers elected
to Congress
(Apex of party's power)
Dec/7

Premium on
gold disappears
because —-~*

acquires another450,000,000 yold (see 1-1-79)

Bank Failures in Mass.

"CHART-LOW

silver ?& certs,
(see July 1882-*)

$13S,000,0O0)

Fed.Gov't., States and Municipalities refunding debt5 of lower rates

(seeFeb!879-+)

this ur

COTTON CROP breaks 19]yr. record
(better than 1859//)
this yr.
HUGE EXPORT SURPLUS
($Z5O,OQO,OOo)

10,178

begins issue <
tendo/larnote

FAILURES this year
(another new high)

$5,000,000

(see J

"UP"passesdiu.
nmiqrants this yr.

labor) for 2 vrs.

Sa/es of RR.(andpublic)/ands start to
r
Oct

to 6 30

/

Apr 29
1st Ell tran
runs in M Y

telephone exchange in Phi la
.Oil
does 90°/^ of all US.re.pmno

http://fraser.stlouisfed.org/
1st Amer bicycle Co org (AA.Pope,in Boston)
Federal Reserve Bank of St. Louis

Edison announces
Pzttsburq defaults
alternating carren
on ho net interest
YELLOW FEVRRraw?*>

interferes with cotton harvest

June 5

McCormicks gets
gold medal in London City of Glascow Bank fails
(//aruester)

wi th$50,000,000 hab.

Auq.\5
(stockholders
1st telephone m Deiroii

ruined)

Jan.

Feb.

Mar.

Apr.

May

June

"L a me Duck"

July

Auq.

Sept.

Oct.

Nov.

Dec.

1879
K

Both houses now Dem-1st time since 1856 (23 yrj.
$5+i,oootooo Gout Sec. refunded mto +
's

US.Debt Reduction
resumed

REFUNDING NOWJ COMPLETED
(Per capita circa^ $26.92)

SPECIE PAYMENTS
begm here
N. Y banks hold only see Oct.

N.YBanks St

*2.oLooo,ooo specie

0 ^

Nearly $80,000,000 ao/drcomes in
(an aid to resumption) A?J

RESUMPTION denounced as a
...^
Jake remedy
,;, — » * *
Not'I. Banks' total assets qoesover $2,000,000,000

Mar. 20

JnU5.

Ba

NkOr/eansn

Record-breaking
g C O R N &WHEAT crops
p
(MajorCROP
tMW)RtSinEur.*lndia)

- No bank failures for Wmon
1

/

\-12\ miles of R.R.built this year -*

Railroads showinq earninq

CNorPac.constr. resumed)
y
(see Sept 1883-*)

Europeans b

St. Paul resumes
dividend(20 %)
(1st Since J87/J
MercantilzFallures dimmishinq rapidly

1 no

of

til!

Ticker running b

Orr,
Jon. 25

Pension raised
aqain

(several 700,000 sh

^ P r i c e s now below pre-war levels
IRON: tiQ nerT

(about 18&-51)

915,575

J

tumble
June/
TIDEWATER PIPELINE

begins to pump
(Oil exports now increase-y

Selden applies for his patent (yets it in 1895-*)
Woolworth 5& lot stores founded
"Prforoar
ess & Poverty"appears
Digitized
FRASER
http://fraser.stlouisfed.org/
Centrifugal
cream separators corning into use (Swedish)
Federal Reserve Bank of St. Louis

Au

.^

7

Tenn. repudiates
state debt
(bv Pop vote)

Oct.2l
^INCANDESCENT LAMP

burns 40 hrs.

Jan.

Feb.

Mar.

Apr

May

June

July

1880

Y

Aua.

$103^00,000 Gov't. Sec. retired

and Treas'yhas to pay 109 for U.S.
(for sink my fund)

see JL
June

Sept.

Oct.

Nov.

Dec.

(Oppo
who th

thisyr.

f'sofl907f/

June 2

Nov. 2

(On 36 th at Chgo) Reps. nom.Of\ RPI ELD

Specie Reserve up 104- fo

,

June Zl
J)ems.norn. HANCOCK

Sept.}*
Jliaint '(joesDtm.

fi?/? 7th at Cincinnati)

GARFIELD

June 9

Greenback Party nom. Weaver
NATI.BANKS'DEPOSITS
up fO°/o in 2 years

WHEAT*CORN CROPS

1879)set another record
U.S.NOW WORLD'S L-ARGEST WHEAT £XP.
($190,000,000 worth this yr)
S
(see. 1915' 6 ~t)

mths-

thts

s

Gold imports $33,000,000

RAIL STOCKS piercing 1861 (paper $)hi()hs
Vr >

lhis

1*—

N.Y.S.E.volume unprecedented
S i & Ch D i d d th tlk f th
k
(Scrip & Cash Dividends the talk of the rnkt)

J power a q ain andso
Deqin t o buy U.S. r a i l s e c u r i t i e s ac^ain andso
7 l 7 ^ m / l e s w e r e built this

Sept. 24

D^LVU resumes
diuidends

Oc # t8

year

L&OI declares
woio stockdiu.

(Now 93.000 mi. in US)
h mileage)(see
ile
(1500 systems, bt
but 15 own/'/i the
1916
COCMSOL.Jc COCOB.a feature-a Coast-to-Coastsystem rumored("A","CBCC,&"CN1
Jay Gould controls all S.W.RR.s exc. "A" 7
*
Momr 16
(*- see 1872)
Nor. Pacific reaches
Mont, territory
POPULATION: 50.000,000

Oranges finding wider mkt (refrigerator cars)
Ben nur published
Racine turns out 1 farm-waaon every 20minKans. City Star founded
Traction bosses begin to flourish -for ZOyrs.
Per cap. expend for Pub. schools $/56 (see 1930^)
Umv.ofSo. Cat opened
Nat'l Farmers' Alliance supercedes Grange
Only 250 white peop/e in Alaska

Industrial
Insurance beinq in trod.
http://fraser.stlouisfed.org/
1st US.bicycle club orq.(at /Jewport)
Federal Reserve Bank of St. Louis

Dec.20

B'way °?ets
arc Ughtim

ft ml)

Jan.

Oct.

N ov.

proceeds to refund
(see
S D
p
$635,000,000 5's A6'S into 3/2
/2's (US. Credit at new high) (USA's of 1907 @ UB'U)

Junel877)

Feb.

Apr.

AAar.

May

"Lame Duck"

June

July

1881

Aud.

Sept.

Dec.

refunding bi//before Cong. Vetoed
Dosed by Nat'l Banks
hreaten to contract circ)

June 30

*JSLl&—U.S. Govt Re

y SURPLUS
&loopoapoo ^

(Highs

Many & Large NEW SECURITY ISSUES
(Rail stocks make, peak that holds
(see 1905—+)

I4urs)
Htige Bank Failures
[Newark & Bos ton)

7

Nat'l.Bank System resumes ygrowth. . w ;J?Q7 »
(forl2yrs)
Jan.1893

Jan. 7

July 2
GARFIEID

A/lar.4
GAR FIELD inaag. see

N.YSE.seat

Sept. f 9
GARFIELD
(Arthur takes
9 9

*+00,000,000//

sells for #30,000
(see 1685—>)
(Doubledin pas t yr)

imports.
Dom.Proa. of golds, silver.
Inc. in NaVl.&k.rtotes)
B A LA NC E OF T R-A D E begins to go against us

SEVERE WINTER

DESTRUCTIVE DROUTH-only
Cotton escapes
RRs & exports suffer ~ US.nowproducing^/s of world's cotton
but Foreign Crops short too & $ value of crops hits new high.

(R.R.S& Cattle suffer)

Some R.R.s beqin to publish earninq statements
7/i

"+08 telephone exchanges in US"
-Bell Tel. Co. report

officially t
(<- see 2870

Feb 19
XansadoptsPROHlBiTlON
Ap#r. 20

I

STAR ROUTE FR-AUDS

7

9

IMMIGRATION
(789,
(SoEuropeans be
Ja
STD.OIL*

exposed——
.
--_—__
9
{near 1 ngst trials, etc.)
Spencer 1 an penmanship at its height
lues tern Union buys its only
competitor
Aurora, III- adopts electric street lightwa
A.F of L. formed (Gompers, Pres)

Anaconda
copper mine
opened
http://fraser.stlouisfed.org/
N.YCentral
Ms
5674
stock
holders
Federal Reserve Bank of St. Louis

9/1 9/10

Darkest days "on Record
(Fog along
seaboard)

FOREST FIRES

in Mich
(1800 sq.rm.)

Jan.

Feb.

frAar.

Apr.

AAoy

June

July

AuQ

1882

Sept.

Oct.

Nov.

Dec.

At this
election
Reps, suffer severe defeat \
[seek redemption by

Congress threatens to lapse NY NAT'L. BANKS for discriminating
against silver $ and certs. «—seeNou.1878 "js&j^
JMIV/I?
^ Charters Renewed
for 20yrs.
Receipts Ho3,soo ; ooo -£2.
i? MIC« 186 5 (war)) ^ e c/

and
U.S. DEBT fallsbelow

1881

New Tariff Commission
in Session
Speculation &hiqh prices cause loss of foreign mkis. B3>

Reports
toCon<).

$2,000,000,000

i-see 1865&June 1893*

— Gold flowing7 out steadily7 —
^

U.5.TREASV SURPLUS
£2+7,000,000 yr.end-^
(unprecedented) ^-^^^
fse^ June 2927y
^">> ^ u q 2

Cona appropriates ?ioo,ooo,ooo for PENSIONS
(*-vs.izi,ooo,oooinl&7Q)
(Pensions now exceed interest on public debt)
Wheat $2+0

Extravagant RIVERS 5 HARBORS bill
passed over Arthurs veto
($ 18,7oo, ooo ~ new hiyh)
Prices hit SYR. PEAK and
U.S. COTTOM CROP
FOREIGN GR*\N CROPS

ports of COTTON, CORN, SAVHEfYToff JO%from yrago

e ^ e,
WHEAT

$65,000,000-*^

— I / . 5 9 I m i . o f R.R. b u i l t t h i s

year

down to 914

a new and "unsurpassable"hip/t
but see 1887 —» also see 189 f — *

J u n1 e I loo.ooo iron workers strike Sept. 20
!
lose ->** '
6/JO
Apr. 2 8
#
Whits new hiqh
^
CHINESE £ XCLU5IO0l
7
,000)
VIOLENT SPECULATION I(M O I L
ACT
(Pipeline certificates circulate itkzBknotes)
gin to predominate)
fist move to restrict immigration)
an. 2
7
(see
Apr.
1901
>)
-TRUST
fdisonsPEARL ST. t
r formed .
Apr.2
POWER
HOUSE opened
0&2Q92-*)
Jesse James /ailed
Mar. n
Apr. 27
June/
UGI formed
LONGFELLOW EOIERSON
Jan 30

ED/Roosevek
born

N.Y Steam Corp.
begins to deliver
steam

Buffalo robes $1. each-but getting scarcer
701forblastfurnaces
in US.
Digitized
FRASER
http://fraser.stlouisfed.org/
So Pacific completed (L.Angeles to N.Orleans)
Federal Reserve Bank of St. Louis

For next 9 yrs.
>
McCou-Haifield
ftud(inKy)

5

Jan.
Feb.
"Lame Duck"

KAar.

Apr.

May

June

July

Auq.

1883

Sept.

Oct.

Nov.

Dec.

Jan. 16

Civil' Service
Mar. 3
Act
"MONGRELMTARIFFACT
"most incongruous ever"

IronOre,Fi9Iron, J u l y I
& Sugar get
" affective
protection
for
here
1
1st time
i

US.TR£*S'y SURPLUS
$134,000,000

J

(still large) yr.end

large Iron &Steel
failures

here
Speculative Panic
(6 grain brokers fail)

Rail mills shutfinq down

FLORIDA BOOMING (US&Brit Capitalists)
M a y 17

thePhilaiReading

8

Visible supply ot
U.S.IUHEAT
a? record high,

(see June 18 fa
competition groivs

and another rate war begins

R.R.s c l a s s i f i e d as l 'Vll/ards < ;VonderbiltsV'Goulds>^
West Shore being built (to compete with MYCen) -

route via Atcheson

fseeAug/#85-*)
duly 19 Aug. 15

Mar

KARL HARX

Aere:

67,000 telegraph operators
strike
(getJ5%pauinc)

An ELEC. RWY. exhibited at Ch9o
by Thomas Edison & Stephen Field

May 2+
BROOKLYN BRIDGE
BenzCGer)buiit 1st successful gasoline motor car
Daimler(Oer) in trod mod. ignition system
Drainage tile coming into use
"Ladies Home Journal"estab.
Elec.
Uahting forRwy coaches introd.

http://fraser.stlouisfed.org/
Walla ce Act (renna)provides for arbitration (labor relations)
Federal Reserve Bank of St. Louis

n
Uc

Nov. 13

.1 , "STANDARD TIME"

:
Postage rate cut
from 3*to 2*
(until J 917-*)

SpJ 21
USBrdzrl Telegraph
opened
Auq. 21
Pitt.Plate Glass Co
formed

estab.

Jan.

Fcb

Mar.

Apr.

May

June

July

Aug.

188+

Sept.

Oct.

Much uncertainty regarding fanffleqislation

Nov.

Dec.

This election
(LaTollette aoes to Cong.)

V
Moy6
MORRISON TARIFF(J

aBITTER CAMPAIGN
-"Mugwumps"active-

July 8
^^"^QL

^^^^^^V.

.^^—^^.

.^^*^^w_

-^^^^^^k_

^^^^^.

-^^^"^^.

_^**^"%-

^^m"^^^

NOV +
^ i a ,_^

—

i)e^77^CLeU£LAND
CLEVELAND e/ectas?
(on 2datSt Louis) ^ ^ ^
487-f85 „,„

,

(amere 624 votes in N.V.wercdecisi

DISTRESS m^€iSwt*UNRESTw^^«t
Oct.
L ^ "•**~"^_
"Rum,Romanisrn,&RebeUion
(alliteration by Dr. Burchard)
MARINE BANK/a
May 7
— Exposure of gigant/c frauds

1

excess

RESE

Art $+2,300,0
new high (5Q\
(see Aug.-*

2tf NAT'L. BANK suspends (andmany others)

Security Prices Crash mo
WORLD WHEAT CROP hits new high (unsurpassed for 6 yrs •>
(Call loans
hit 3%perdQy'!) US Corn & IVheat^Crops set records
/
• 00
^ ^ Price of lOheat in London
Fhda2Readin9
hiis WOyr loiv

t5£&?

receivership this yr.

J66

V ^

May)
UP cuts wages
& salaries 11%
—10,966 FAILURES this year
fncuj
h/)

here ^
W&LE.
(still under const/)

S

11

Q I } D •/
D vx C\ • or

created

75^ £flj/c Steel made
inUS.(Steelton,Pa)

Kerosene lamp wicks trimmed weekly
m
Foreigners own many cattle ranches (invasion' resented)
Na t. gas introd. into Pittsburg us fuel
Chgo
noiu world's largest primary grain mf<t

http://fraser.stlouisfed.org/
US petroleum getting Russian
competition
Federal Reserve Bank of St. Louis

This fall'
EC fart cut
to 5t(lVQS 10*)

Nov. II

Consol.Gas(Ny)
formed
(out of 5 Cos)

—"3,000 empty tenements inPittsburg —

Ma^y

Steam turbine sLinotype invented

Y

Coal S t r i k e
June 27

Apr. \o
1st train from Mez to Chgo.

V

(see next yr)

(l

»w n_.

Jst reg. trip by

WASHINGTON'S
MONUMENT
completed
(36 yrs. after corn-stem

Jan
Fc
L ame Duck

M or

Apr.

May

June

July

Auq.

1885

5ept.

Oct.

Dec.

Nov.

Mar*

DEMOCRATS return topower forfyrs.
(after 14 yr. lapse)

9

U.S.TREASy stilljhows
a surplus —^L£i (
($60,000,000)

Gold inU.STreas'y down 18%
up 62 °/o
5/lver- " "

COLD R6SERUE

down to
$115,000,000
Dec. 12

eaves
ooo

oio)

-Call loans |-r/:i%-

J 6, cars of
toheat sent
Manitoba -

*65,000,000 (67*/o)

(seeAizyry

(see Dec. 1893->)

WHEAT CROPj/!^"
Resultin li.S.
pRices
for 1st time in a generation

Harvester-Combine invented
Railroad Construction hits 7 YR.LOW only 3,000 mi. tkisi/r

a*ail
reach acjmt.
TMs winter •'
MICHIGAN'S
built

is leased'to CM

So

fieQri

CALICO CRAZE ouboon to Cotton Manufacturers

Mar.J
AT.aT. in cor p.

1st ANTI-CHINESE outbreaks.

at Rock SprinQs,Wyo.-z<
continue
7

elsewhereDec 8

J?ich yo/d beds
1st Interned Yacht races (Auo.fi)
Elec. welding invented
Autograph albums2. Conqy oaiters in voyue
June /9
n v e n t e d .
Cash register i invented
Veinor'DasKopital
(posthumous)

V
i
K
l
(
%
http://fraser.stlouisfed.org/
Open ranqt disappearing (woven wire mice auatlab/e)
Federal Reserve Bank of St. Louis
'

lUeLSBftCH GAS MANTLE

developed

JUI

Mau.8S.doesa
7ni.in2o8'A

Jan.

Feb

Mar.

Apr.

May

June

July

1886

Auq.

Sept.

Oct.

Nov. Dec.

Cleuelandvetoes 113pensions public Bldg. bills in 8 Tiros.
Lere
MORRISON TARIFF wfrodaaam

June n
A defeated again
(*see.A/au

Jan,9

y

$3'4.000,000

by rapidhf

Tin no i vri i L.oi\,notes

J8B+)

ApjrQ
v
/
£ C OIM A G £ i///
~>/j/defeatedf/n H-R)

Cold flows out

Cono. author.fy-2-S
Cert hic
^^ ^
P™<*™^^If^ft

s?Iher

^

and currency crisis thereby averted
C^e^ ^ ^ ° k
^ductzon)

"1 Gold Flows in

^34.000,000

Dec. 15

109^000 st.
(1st million sh d
Dec.z
•
Panicon Frisco
Stock epcchae.
(jf biy brokers foil)

— XEAR OF STRIKES* LABOR TROUBLE —
M nr

,

Mnsj 4

Kwqhts of Labor at height of power-but henceforth s/ow/ysupe reeded by A Fof

strikes on MOP &MKT
here

(730,000 members) (Largest Union todate)

(

SOUGHT)

ANARCHIST RIOTS
in Chyo.
COAL STRIKE

18,3)0,000 ACRES {Tub. land)sold to settlers(all time high)
EARTHQUAKE
in Charleston,S.Cor.
7,000,006)

n skeleton construction Jst vstel
'Unearned Increment" begins to draw attention




This efcction
almost becomes
mayor of NY

Jan.
Fe t>.
"Lame Duck

Mar

Apr.

ay

Jun<2

July

Sept.

1887

Oct.

Nov.

Dec

PUBLIC DEBT

drops below bu

$7,000,000,000

(1st time in 24 yrs)
A Speculative Collapse
(see below)

4June 14-15

J a n . 29
•

Wheat*Coffee Corners

^

MexMJar Pensions upped
Feb. II

*

Au%.U

June 20

NewCwiLar Tensions
vetoed
(see June 2S9Oy

H.SJV6S&CO.

7

(Liat*20.000,000)

Fldelity'Nafl. Bank
/7//5 (Cincinnati)

s
May 21

day)

N.ySE.inaug.
Sat. noon closing

Feb.7
ifL

Mar 22
+lst appmt.

1st Unfavorable Be

year.

6L6C. RWy5.make yqood start in next 2 yrs. ^
(see 1897-*) ^ - "

I 2,878 M I. OF RAILROAD BUILT —>

(All time high) (see 1895 -*)
(Cap. required$2£>o,000,000-much from Lond.irarii)

-eesseneR
dune I

FORMATION o/TRUST5

5T6EL PROP.
(3,300,000 tons)

0/7

3xi8Q+n —
Thhtnn.

^J. L/^/O77
b bought last large rival this yr)
(also 'NQt'l Cordaoe Co. (a trust) forrneb(seeMayJ893)
Distillers & Cattle Feeders Trust formed
So, t S
Ma

* 27
1200 horses die
in M X car barn fire

Tenn.&AlQ begin to enter steel scene
Comm- creameries begin to displace churns
Krupp steel works are largest in world
"RootierifofficeBlda
constr.in Choq.

http://fraser.stlouisfed.org/
J^tunckrjjrow^^
Federal Reserve Bank of St. Louis

Oct. 28

^

SUGAR TRUST
"effective"

Labor Day observed
in sev. states

Nov. 21
a practical

PHONOGRAPH

announced by
Edison
Gold Pro din the RAN P begins to groiu rapidfy
(see Oct-Nov. 1899 - ^

Feb-

Mar.
-longest

Apr.

May

June

July

Sept.
-Sept. 20

1888

session to date-

Dec.

Nov.

V buys $101,000,000 worth Gov'tSec. (cost- $lio,000,000)

(high premiums prevail to end of 1890 -*)
Ju/y 21
Mill's Tariff Bill (dowr)
passes H.R. 162-J+9

ut debt reduction continues
(so does A/dt'l Bank note contraction)

June 6
Dems, rehom. Cleveland
(well financed)
at St. Lovis
A bitterly contested campaign
Nov. 6
June \7
ISSUE:THE TARIFF
Reps nomHarrison
vs.
Reps. " Ehc. " Z33-J68
(on8thatChao)
„
THE SURPLUS
Dams- Cut tariff to reduce surplus"
Reps'" " taxes and^spendmore"
Both• ignored t/?esilver question ! but
S£ vol. vary low all yr.
=>
adapted Anti- trust planks (/st appearance)
7
(onlyfiof 1882)

,4

\Q\. OF Trade in 13 y rs.

Recordbreakina CORN^ COTTON CROPS -but -*stil!more neztyr.
(over 2,000,000,000 bu)

also-

India*Argentine begin to export wheat now
(for 1st time)
This yr
rtttsburg gets its
1stcER

?7ere

Sept. 13

^tnjt

of LS loses)

receivership

RATE WARS ALLYfc.
(*-see new mileage 18B7)
tthe

the StTauTpasses
div.

MKT into.

Cuf.s

Dec.2l
•
war
settled at
Moraan
residence

Dec.

bubble breaks this yr.
> Leqd,r\ope,<& O i / I r u s t s effective here
Mar. 12

+%<> ai n ? A O D

tlovoHB^l
7

Linotype perfected.
Aluminum Co- business estab.
Edw.Bellamys'Lookinq Backward"
A .74 T. borrows to build LD Urns



on

~ ANTHRACITE COAL PROP, hits veivhiqh this yr. -

(3B.T 000 tons)

Ju/y ^j
PUNCOP builds 1st
-ru f ~>« pneumatic tire (Ireland)
^ mo'
es)

* TMsrrto
GOLF introl
into US.

Jan.

Feb.

Mar.

Apr.

May

June

"Lam, Duck"

July

Auq.

Sept.

Oct.

Nov.

Dec.

1889

Mar. 4
REPS, return to power

Secyfflindom
proposes ami
f f

SILVER POCIC

(iwte ^-pro-silver
admtb. below

by this timeBullion inS\L\)S&
worth only 72.3 4
(see Sept.-*)
• ^ . Nov. 2

19
reserve

*m,ooo,ooo

to qetsome

gotdfiom NY
banks

Nov. Q

TTacZ/
This ur '

HUGE CORN CROP

here
French Copper Syndicate
collapse.
(Boston feels it)

(1,100,000,000 bu)

3,000,000 boles cotton exported?

but in Kans- Corn - _
Cool =30*' "
(not conducive to content
in midwest)

This yr
.
s
- PIG-IRON PROD* at new high levels (2 x 2895)
>
US surpasses Gr. Brit (loses lead temporarily ini89i-2,189l>->)
(Miscellaneous demand increasing)

Morris Canal
abandoned by
LehighUalRR
Mar 5-7

1st \.CC.mjeetina

Peb/5
Match Trust..Mor.9
n
Feb. 6
K
Sewer-pipe Trust

(Strawboard)
-TRUSTlaw ^ * * * f°rrmriQ continues &- rruuxy others
(Pluq todacco) (Pottery) (Sweet Potato)
u

r2i5 :

Ok la.opened lot moori) __^ 7uezt yr.AT&SFz, & Rock Island RRs.
(1st Guthne ok.in tent) provide free seed wheat to Okla. farmers
US.dept.ofAgrtc

(oostPa.RR.*i.ooa,ooo)

Maine forbids stouehe&tedRR coaches *~
Kans. votes l3,ooo toprornote silk culture


£


PARIS EXPOSITION

1st US\
engine*
This season

1st

May 3/

JOHNSTOWN f LOOP

Jan

)

ames

(Sandusfy, 0)
(EiffelTower)
lian Monarchy overthrown

Jan

Feb
Mar. Apr.
May
- a Z>u5z/ session-(see bzloiu)

June
July
| Q 90

Auq.

Sept.

Oct.

^ e ..Tangle — .
Introdin Cono & becomes 5 e e M a y 2
involved with 'tariff
tariff ley
leyis
is.
> a)

5 9 l#9

*$$£&>.
Oct. I (s£///
have Senate)
an
(6) {^y elected tvf/K)

^uhy 1^

(2) fj)fl)
&)
(5)
(), N
sequence below)

icy

Nov. Dec.

zrstates

Oct. l

McKINLEY TARIFF ACT
duties upped to 49.2 %
SILV.
PL
SHERMAN SILV. PURCH.ACT (new:sonar bounty* Com. reciprocity,
wherebu:
Treasy mustpurch f,5oo,ooo oz.per rno.
lgl
nder notespauabh
notpy
& issue
legal tender
(supplants
BlandAct
of/7?8) waitn-^Foreianers take alarm

Jul '•Y ^

BARING SROS.failure
(London)
ScfOth)

PENSIONS raised
(£50,000,000)

All Rep.
$ pro-silver
— Real Estate Mkt. very Active—

(^see Octf /
Treasybeginstoofferneiu"SihnottstoNy.CHJsoNy.
banks present legal1 tender forredemption in gold
-BANK RESERVES

(sky-scrapers now appearing here 4 there)

belowleyalrequirements

POOR WHEAT & CORN CROPS

rtment

(Cotton fares better)
Rubber
Tobacco
Smelting
forrned this yr
Cheap novel r Trusts
" many others)
Coffin
Windonjcjfhss
Wd

July 2

SHERMAN ANTI-TRU5T ACT
parsed

Juneix

POPULIST PARTY formed
(at Topeka) \
The fanners battle cry' "lit corn z 5* cotton don't mix with 10°/* interest"
"Kansas should raise less corn A more he//"
-Mary E. Lease
n.l
A pr. 1
Cyanide process (for gold eztractic77)introd. m Rand at aSourt this time yn &yrs
* locomotive
zer dies
July Z
Feb. 22Australian ba//ot
D c >5
__^jn
K.h.
\0f\Vi6admtd.
fed)
^
JOHN JACOB ASTOR
^ (more si/u support)
SITTING BUI
n

POPULATION * 63.000.000

J u [y /0 *

(see above)

iJn^ef^J^/^Jrrn^o^^0

3

S ^ B L ^ f i n W i M

3. defeats tariff (ttmporarr/yj




^'substitutes

afreecoinage bi/l'&.

s.Compwrmse^lv.bi//pasjed^^^.

^ iScn.Uccvcurs

Jon.
Feb.
"larmDuck"

Mar

Apr

Jan 14
Sen passes a
Mar 2
%
Act io refund
o]d JTKOme taxes
to states.
Q86H872)

May

June

July

1891

Au

Szpt

Oct.

Dec.

Nov-

Many COmERC I ACft£CIP. agreements (with minor notion^)
(*-see Mck. tariff Oct. 1B90)

1st TREAS'y QEf IC1TS//7CC 18k

(sec fiscal 28 9+)

COLO EXPORTS - $70,000,000 (recordpace)
COLO CLAUSES comma into use
.,
J ul i i nMe 3
(seeFeb J935*)
- '
Deposits of
f NN.Y rCHBks. J*
*3Q3,500,000

^

GOLP IMPORTS £50,000,000
(Postpones pressure in Treas'y yold reserve)
Nov. 1
MAVERICK NAT'LBK.
(Boston) (Liob. *8, ooo, ooo)

Til

EUROP. CROP FAILURES

U.S. CRAIIN & COTTON CROP5 L^RC£ST TO DATE ! !
^ Au q 18
Cotton hits +
/?uss/a forbids
July/

Mqr. 3

Jan.,o

?u'o.Qr trust
en/o rye 6

C n

° %$irafeS

for

•* eXPERIMEtMTS

Dec. 7

{explosives vsed)
Ju/y I
Ay J;^ tin-pi ate
effective

(McK trift
Sewing moc/iines Qrms costo inake 7*od. BI CYCLE S
LL

I 2,273 FAILURES
^ ^ (
J88S z 189
Steel workers aver daily w/aqe - $\. 25
Bookkeepers
" '' « ••' " " - 2.CO
(see 1925)
July 25
Smo/reTess powder
•, 1st used
s
(Sandy Hook-NJ)

Compressed airdehv.as source ofpoujcr(EStLouis)
Carborundum disc. & named




R v

*

Oct. 26

IRE STA
(see May 1893)

in nearly all S o . A n e r . s t a t e s

Jan.

Feb.

Mar.

Apr

May

June

~ 1st Billion Do Ilo r Congress -

Auq.

Sept.

Oct.

Dec

Nov.

) ft 92

Mar 24
inag fails «.
Free coinage
inHR
H.R.

July

Ju/y I

^ Sen. passes
a free coinage bilhft.R. refuses to consider it

see.

I

ctYif/i

J5j

U.S.Treas'y buyinq +,500,000 oz.per mo.& payinq o u t qold notes I!

Only 25% of Duties now paid in r

(Formerly 80-90%) due to distrust of Silo Act of 1690
Mgy3i
TREASV GOLD
_ ' . ..
, down to *n+,oootooo Sterling Bankersr presenting
n ledal tenders for redei
$4l,5OO,OQO Gold Exported

^

(Europeans still setting Amer securities)

"

^

June 18

/

r

/

Brussels Silv. Conf
(770 result)

N.Y.CHbankfbeposits
fs+4,000,000

June 7

s. r^o/77H

(at Mp/s)

Nov. 8

June 21

IXEVELWD wins

Dems.norn.CLE.KJt. LA N P
WriEftTgoes below*?.

/yVX) (see/i/ou/394

1

(Populists carry + states)

COTTON'6'// 6 /

to 82/2*

(«-see Sept. 1890)

Feb.i/

/^//tf. A 'Reaoinp

formeb

Mar 17

COTV6.

same oay
sCc
N.V. S.6. volume^.—^
1,387,500 Sh.

A ual4- 24

a 3 tock clearing system
esta&(for4stoc*s-/tbV
P.fl5

(neuj high)
Elec. Supply
Trust
(see Feb. 1893*)
formed y(GE)
Mori
**
Ohio Sup Ct
orbers$TV.O\LZO.
£ 1899-j

^ns

($1,000,000 dQ

A

to d?ssolue

itchf

~

HOMESTEAD
RIOT5

S t n k e

•Sept.* 70,000 miners s t r i k e (see

R.R. bui Idinq of low ebb

(ICC estates "keeping
rates louf)
7

Apr 19
m
Durue a'"inuenteb'
an automobiit

— Chili War Scare —

Colo. Fuel & Iron

Co. formed

CHOLERA SCARE

Dispute re Sun dos?ny cftto*SFair(mS> %*£3>n*s mil
va makesfinalsettlement for CwWor bonds
1st pneumatic tires on autos (France)

Henry
Ford built fcs 1st auto
http://fraser.stlouisfed.org/
Boll
weevil
enters Texas
Federal Reserve Bank of St. Louis

Nov 20

~

May 27
1st "EVm Choo.

(in Sifu. half ooffars)

MY- 8$ telephone
seruice opened byAT

°Per?s

»)

Jan.

Feb.

Mar.

Apr-

May

June

July

1893

Lame, Duck'

Aud.

7

Sept

Oct.

Nov.

Dec.

(To repeal Sherman SiluAd of 1890)

hAor. t

return to power
for*Vnr>
A UP. 28 r t -x. * •
Oct. 30
Cleveland
calls
~
Filibuster
i
ng
r»
TREAS'y COLC? down to
Congress
Repeal poises by silver
Senate /*, ^ {b
_,^2, ^»*~~
$100,980,000 !
June 29
//A 224-ioe senators
concurs
^beL^nV)
Sifo. hits new low
^
Apr. 21
Goes below $100,000,ooo
(62*)(se.e5epti89o) Au~.
^ee

Oct.

SfJi0OO,0O0 <)0l6

'9

°^

imported (but ~~* Gold Reserve doiur?tb
of no avail)
*Qitsoo,ooo xno enb in sight
30 \
June JO
to July i J s ^ T R g A 5 ' y PEFICIT^z?
(*6 i,i 70, ooo) deficits c
PUBLIC P £ B T \
*96), *00,000•%
(new post-war low) V
(rises 4-9 % iv 6 yrs)— \
Many BankFailures (jsa//at7)

zmption

f

(is3 in midwest & So.)

A CURRENCy ".

N. YCH Bk. deposits offjs %

Feb. zo
(V y S.£. ^o
.20

Jon.6

fails
'/ Cordage pays
>00+stock, div.

*

Great Northern
completed (Cascade Mts)
(sth Transcont line)
70,000 miners lose: strike
Feb 25
Leather Trust

$67000,000
*38,000,000 JVyCH[certs issued
M

°y5

Callmoveu

Oct13

fMAT'L CORPAGE

ATCHI50

fails

faih

Thisyr.
2 9 , 3 t O Ml. R.R.THROlV/rv INTO RECEIVERSHIP
(All time recorb)
(Foreigners hold majority
1 FAILURES this yr

??tw record (see J90B-*)

Empire State Express
runs 112.5 m p h.

formed

June ll

INDIA <VSILVER

AUSTRALIAN

crisis
hAas H
So.African bubble

Septlt,

free public land raj

9

(100,000 await

brec
Kamie erase (a new fabric)
COLUMBIAN EXPOSITION
US Navy Sth in zvorld
M
NY has 9,000 te.iephone subscribers
\ June 2i
(Chicago)
Sam. Jnsull comet to C/ic)o.(seeMay 191^
Calif Fruit GrowersExchoe. founbebbstbig co-op, (see. 1901)
°Peneb
An the Motor /nstal/ejd in a Conn facto
Edison
perfected a movie camera, (see Apr 189C •*)

http://fraser.stlouisfed.org/
Maine
enacts
Jst US inheritance tax /aw (see Sept J9/6)
Federal Reserve Bank of St. Louis

Ocf30

Jan.

Feb.

Mar.

Apr.

May

June

July

Aup*.

1894

Sept.

Oct.

Nov.

ec

Noy.jo
Gold Res. $ios; 100,000

Feb.lo
Gold J?QS. *J04,200,000

T
>^ NYbQnks buy $i-o,ooo,ooo worth but
Cj withdraw 2.ftooo,ooo cold topaij for them !

here

0

\4firm syndicate

VA ^

^°oed

ht•*OoldRes. $(oS,t>so,ooo

buy s^sOjOOQjOoo 10 yr.

^ j o o ; o o o y o o o worfh S/lv. idle in U.S. T r e a s y

rw / ^ a ^^/Z TO coin seigniorage •'.

Jan.ji

H

^

\

M/^t COLD EXPORTS *81.100,000 this
(record hioh)

year

Nov. 10
GoldRes.$s9,ooo,ooo

•

unce CIVIL WAR (forfullyr)
Election:
OEMS. lose, hence.:

continue 6 yrs.—*
Feb.3

EXCESS'RESERVES

H.R. harmony SEN.-FreeSilv.

*U2tOOO,000 (80%) . . .

Feb.

TARIFF

is o poor revenue producer

passed by HR
lot-

/NC0M6 TAX)
Mar /9

C

°(n^ot^nds)?77e
\ reversed next yr COTTON CROP fats new Pec)
COTTON WORLD WHEAT at record levels

ay wheat 613/et
(NY) (low to date)
This yr

ON

. to"Popgun"bi//s A1
/acA 0/confidence in2)en?party) (seeelection)
7

76
IS 78)

-*

PULLMAN
STRIKE

9 VOW

Sherman Anti-trust law
Fed.troops invoked against labor (1st time)
sent to Choo.

This yrRJk Constr. wear post CiviltUar ?otu
(lSt RR Cos. in receivership)
('hUS.RR.capitol)
Here:
J
Labor day created
A/.yvotes for
M
rapid irons it
COXEYtS AQMV

xno,ooo

Miners strike
{MWt colled in 8 states)
Iron Trod at standstill
jpialy dwindles to thin cushion
Jan.2£

NiaqaraPoiuerCo.
turbwes start

Mgrlf

Apr 19 Nfoyil

Starts

Arr.at f/ected
Disbands
Wash -several other "armies"marching
Ju/y5
'
/5fGOO0ROA0S<W.

dP. Morgan becomes a power (see
Arpqn
A Hehurn discovered

http://fraser.stlouisfed.org/
Comic strips begin to appear
Federal Reserve Bank of St. Louis

July M.

1st tfaunes auto driven

Oct. 7

OLIVER WENDELLH0CM6S

AvAar.

Jan
Feb.
"Lame Duck'

Apr.

May

June

1895

Feb7

Sept

Oct.

Nov.

Dec.

Gold Res. $107,500,000

*6 2,315,400 worth 3°fi if payable m qold
A

Au 0.

July 3

Ro thschild Belmont
Morgan
Syndicate agrees to take US
2d

July

y

fi

OVQ.prefers
thes^
(Inflationists influence)

July JLO

aN.V. COFFEE HOUSE,
enters foreign
ezchge.Bus*
(Profit -motive)

°perotions

9-

Feb. 9

G O L D RES. $1-131-0,000
Dec. 17

VENE2UE
Jon.il % % % »

CORN CROP zip 8% from yr. QQO
"SUGAR TRUST
Apr.*
May 20
y
COTTON CRO? sfiort ^
not a conspiracy
Port of Income entire caw
•nor a combmotion"
Tux low held
an const..
Cotton bock up
"Sup. Ct.
zcncons t
to 9i
(Jst case unber SAJlaw)
(see Wilson tor iff'-Aua. J89f)
hnh /Labor trouble
little (( 5 o c i a | j s f , c | e q
qis/ofion
-Many volun1-Qr/
waqe
advancesl
d

ep?sode
(US--Briton

PIC I R O N PROD. 9.1-saooo tons
(new record

This mo.

voRf.sw
into receivership

Trunk lines spendinq for improvements, eta.
7
but
SR
30yr low this year
(only /(>SOm?)(see 19O&~>)
INTERURBANS begin to offer competitiorL
B* 0 posses
div see Teh
Sev. -new speed 7?ec.
mode by through
traivsfonNYCent)
Sept.7

Tins winter:
WEA MOTOR a/rtGO(M CO.
prod. 13 vehicles
Feb. 20
Cuban Revolt begins

Pans-Bordeaux
horsekss carriage
race

Gold(JZanS)speculation flourishing
7
in En<j.
soo,ooo bicycles maJe thisyr. (Retailedat
SelSen obtains his paterit
French take Madagascar




h)

%

7S)

Brook. Un. Gos Co.
2 r? corp.

Nov. 18
Duruea wins a
race at Evans ton
Jc
Nov. 9

in London

JAME
(on Jc

Jan.

Feb.

Mar

Apr.

June

Ma y

Au

1896

elections Nov. 1894)

Co!6

July

Sept

Oct.

N ov.

Dec.

5^/28,700,000

and aold reserve remains secure

(because by this time, legal tenders were too scarce
to be used for redemption (to oetyoldtobuu bonds))
<£ because -> Ju/y 20
NY. banks agree to
sell qolo touSTreas'y
(see political dtv. below)

Fe.b.6

Auq.i9

^COCP

ELAN

%

-^

be9m (see crops,be/ow)

July 30
kfif declares

%

foroofdStd.
dS

nsis)

— SILVERITES control Cono.

>

but concentrate on Vres. campaign
(see Utah below)
i

FREE
\ *.Stmi£ stifffitfi
\ ^ S i l vDerns.(until,
.V(kl

Mar.

OHIO REPS.

straddle Sih.question
Many state deleqations
in favor of free s i l v e r .

Nov.3

desperate Camp. McKI(ML£V

*
July9

"CROSSo/COLD
speech

it

straw votes)
lto-^50
(largest plurality since 18\
Wheat
had some effect

SHORT WHEAT CROPS IN EUROPE & AUSTRALIA
Feb. 29
- Famine in India. •
Norf.ScWest
B*0 into
Wheat 534
Atchison
receivership
Erie
Reorganized t< out of receivership this yr.A/or.Pac.
Phi la.S, Bead.
This ma

Jan.i-

Prmtcloths zV/U
(lowest on record)

UTAH admtd.
Apr. 27

'90'2

eSQN'5 RAID

r

/^MOVING PICTURE
shown

ohanr?esbnrg)
X-Rays discovered (Jans)
Sears Roe buck estab.
Barnum&Bailey advertise a'horseless carriage"
Digitized
FRASER sional sent
1st forradio
through space
http://fraser.stlouisfed.org/
Patent
medicine
Federal
Reserve Bank
of St. Louis Mfrs. still largest Nat I advertisers

Gold discovered
in the

Oct. i

K&yiXfi'
1st
Reroute
(see July)(
char!eston
ID. Va.)

Jan.
Feb.
"Lame Duck"

Mar.

r.

May

June

July

Auq.

1897

oepr

OCt

Nov.

Dec.

for tariff legislation T
Ju/y 21

Mor.f f

foieyrs.

DINGLEy TARIFF

>

Aver duty 1-9°/<> {newhigh)(sez1912-*)
(Iron & steel yet more protection)
rules H.K

Silv

U.S. has Turch' 292,112,000 oz,. Sib. under Act of 1878

_

7 6ft (,75,000 " " " "
"1690
459,917,000
•• & cost */.0O93pero2 .*'*

Total

dt of
H7900-*)
7

This fiscal yr.
$l2o,ooo.ooo (fold imports
This fiscal yr.:
^S^^
^
U.S.EXPORTS go ouer $ 1,000,000,000 1st tihle^
^ ^
abo
. BUfiPER WHEfiT & COTTON CROPS
in( rf
^

\872) IMMIGRATION hits ZO yr/ow

(only 23J,0oo)

(Europ. wheat off 30% U)

r<&Y.

Auq.20

level 0
-t

f>

f

..

,,

t POST-WAR LOWS * now ri&
(End of a. 3 3 year decline )
7

M Q r.Contracts
2 z.
/
"Poolino
illegal''
TRUST FORMING begins anew
-Sup. Ct.
(Trans-MoTrt.Ass'n case)
Coal Strike
^
|
(perSherman Antir SteelsdU/re Co. formed
trust act)
Lake Shore R.R.Co. refunding its 7's into 3's

(others likewise)

^

Carneqie makinq steel roils of $13.00 per ton !!

Wooben Indians designate ciyarstores
U.S.woolProb.atLowebb (onty 200,000,000^)
Interurban trolleys at height of power
Manufacture ofs?ay cemevt bepins
Hansoms,Uictorias
in vogue

tSulkieSjlPhaetons
http://fraser.stlouisfed.org/
3-speed
transmission
gear-set
perfected
(in Pans)
Federal Reserve Bank of St. Louis

July n

/st shipment of
gold from Klondike arrives
(Ft.Townsend, A

Rumors of war with Spain

(US.investments in Cuba $so,ooo,ooo)
Oct. 2.9
Olds Mo tor Vehicle HENRy ceoRce
Co. incorp.
Oct. /
Japan goes on
goto

Jan.

Feb.

Mar

Apr.

May

June

Ju ly

1898

Auq.

x

Sept.

Oct.

Nov.

Dec.

i

TREASV GOLP RES.
now $2+5,ooo,ooo\
June 13
.
*2oo,ooOjooo 3°/° war loan

(oversub. 7'h times)
SILVER RATIO now s
and holds until World IDor
Apr. 21

Feb.15

U.S.S. MAINE

Dec. io

Auq.iZ

Treaty sigm

assets: P.I

.SPANISH-AMERICAN WAR;

destroyed

Gu
P.I

hAay I

Deweu at
Manila
I

June 20

Guam seized
July i
Rough Riders
at San Juan
July i

May IO

Wheat now ^j.as
(uvrhioh!!)

HAWAII annex**
&COTTON CROPS fo date

Letter Wheat Corner
collapses
Jan.3i

PAPER trust

NOV. 21

Mario

THREAP trust and many other industrial combinations formed

Feb3

Dec. 5

CINSEEP OIL trust

CRACKER trust

Nov. 28
40.^7

ELEVATOR trust

Mar 22
42.00

Mar. z?

AUTO SALE
(a Win ton for $j,ooo)
Radium discovered
Greater Mynow id city in world .
Mustache-cups % detachable cuffs prevail

Auto-Car advertised a. Dackctge @ f


SILVERWARE trust

Oct.
Nov.
Fashoda -> settled
incident
(France vs.&rit)

Mar.

Jan.
Feb.
"Lame Duck

June

Mq

Apr

July

Aua*

1899

Sept.

Oct.

Nov.

Dec.
Dec .

COLD STANDARDS
f

to y,/98

introb.

U.S.TREASV DEFICIT hits
s
Q9/ll2,ooo(3Jhyr. record!!)

Feb 19

Senate ratifies
Peace Treaty

^

? V

I

here

9

J 7

Dec. 1

^

]

H.R. 190

)

,000,000 indemnity

(toSpam, for Pis)
Oct. 11

BOER W A R and gold Prod.st
begins
Panic in

med
mam
Ws
uban Trot.

- r \se etc)

— only 9337 FAILURES this yr. ~
(lowest in 16 yrs.)

ow reach all time hiqh and dec/fr)c>

P R I C E S

e

(183O-1936)

s

'O\\//

A VEAR OF AMALGAMATIONS A(N0 MERCERS

Feb. 14
Radiator trust
formed

Apr. 29

Mar.

formeb
N. Jersey passes a
\ /
1 soft enabling act and *~

Coppe r trust
formeb

June ifc

Stb. Oil trus t
formed

Dec .^
"the Abbyston Pipe
Steel Co. eliminate
competition.

Auq.30
Cement trust
formeb

"SUE

(Trusts 1st rebuff

/V)ay 21

Fertilizer trust
formeb
"(and scores of lesser
Apr. 25
77 29

st

V

S827
27

7770
0

1st Auto-Stable ope neb
(2.13 W.58th St.
MYC)
- 3 7 2 3 autos T^rod. this yr June I?

Locorhobile Coincorp.

Bicycle trust manufactured
1000,000 bicycles
100
taxis
in
New
York

http://fraser.stlouisfed.org/
yteam & Eke vehicles st?// outnumber
gasoline.
Federal Reserve Bank of St. Louis

/ 5 * PACKARD
(see Octr*)

Dec.6

"Sherlock Holme
open 77? 9 mqh

bill
18

Feb. 15

Mor.14-

-» Sen. f(,i9^SYgned

&<$ISO,OOO,OOQ

gold set aside for legal tenders

0730

BRITISH, GERMAN, RUSSIAN & SWEDISH loans
floated in N.Y

July 6
Silu.Reps.nom.

stops in So. Africa until Apr 1901

Bryan
June ii

Reps.nom.ncMNLEV ^efUii

DINNER PAIL campaign
Nov

(Phi la)

Dems vom&Ryfifi

p.Ct.

f)

726,3

A..-**

. iahsts
endorse Bryan
.OF TRADE favorable by $650,000,000 (new high) "Invisible'/terns drawing attention for 1st time
(see foreign borrowing, above)

This mo:

STD. OIL CO. declares

e and
eb

<

$2.0,000,000 6iV.

(largest to date)

Henceforth MANUFACTURING exceeds AGRICULTURE m value of Prod, to end of eh art ^
(eg Freight cars now iveigh SOT see J86 2)
7

Nov. 11

N.VS.e. volume

Mar. 24

CARN

™

STEEL CO. _eQrns

Hooooooo

1,100,000 sh

th.syr

(new ?~ngh)

BOXER Rebellion (seeJ9oz)

This mo-

^

Jon. 16

1st A/y SUBWAY
C

%TooToZ)ed

POPULATION:
L A I N 75.OOO.OOO
75.OO.OO
TillsQ, Okla JJQS J3+0 (see Jan-*)

1st AUTO SHOW

Sl 96
(mostly EJec.% steam)
f24
P
Oct. it
Thckord Motor Car Co. t
incorp. (Prod, begins in J9O2 ->
(fea ture steering -wheel)

ie

Direct primaries bewy tried —Curve dash Olds ?ntrod(*(>oo), Shirtwaists pnvovue
(/aryest auto factory ?nu S.)
Sept 8
"David Ho.ru m" published
GACVESTON HURRICANE
Autos now get reverse speed
(t>,ooo die)
Sear's catalogue has d 7pages of4>UQQies harnesses, etc
SOORRs
in
US
+0
??ave'A
the
mi/eope

http://fraser.stlouisfed.org/
^Bath-rooms now found in we//to-do homes
Federal Reserve Bank of St. Louis

Dec.
7/o

Jan.

Feb.

Mar

y

Apr

June

July

1901

"Lame Duck"

Aucf

Oct

Sept.

No v

a 30, ooo word mes
to Conn.
-R005

Dec.io
Isthmian Corn,
to Panama si
-Sept.

McKINL£y
Apr. I

U.S. STEEL CORP.
launched
(the Steel Trust)

Apr.3O

N.YSE Uolume

Mar. 19

Feb.)
UNION PACIFIC

buys

SO. PACIFIC

3,250,000 sh.

(veto high)

- ou very hot spellsaved
CORN CROP ruined
(largest crop
to 1910 - * )

TltiCAN trust
formed
May 9

(see Dec 19)2+)
Jon.io

Nov. 12.

NOR. PACIFIC see JVov.

Corner
(fold®
hooo vs 2Si in 1896
(Harrimcm vs. Hill& Morgon)

NOR.SECURITIES CO.
formed (holding Co.
for G.N,kPCB
Q)

Texas OIL FtVER beoins ~ £ henceforth U.S. petroleum output makes new records yearly to
(also see Apr. J902+)
Oct. 2+
Dec
l

""~'7

EASTMAN KODAK

:. 27

Gypst

trust formed

of

Ll Si.

Jon 22

Dec;

QUEEN VICTORIA

Nov. <t

Connecticut posses a state speed law
S-/2Z

7/2/

Mew record tnp aroupd world
Floradora Sextet a bro success
(by Chas Fitzmoms)
Broadway's cable cars bemg replaced by£/ec.
(60 days/3 '
Golden oak furniture prevails
Tonneaus with rear entrance now the rage
Horseless
 cornoge now known QS automobile
http://fraser.stlouisfed.org/
J?FD. routes/n operation vow (@$sooperi/r)(seeJ89(>)
Federal Reserve Bank of St. Louis

56TH LOK\J
defeats Tammany
Nov. /6

A 'Mors auto mofes
a mile in 5/seconds
(Brooklyn Speedway)

Feb

J on

Mar

Apr

Auq.

July

5ept

Oct.

Nov.

Dec

1902
June 2.8

essaoe

PANAMA CANAL

V and
osevelt
7. switches
site

JurK

May

'']Spon-Arner war foxes

repeated

act
Apr. _

Chinese txclusion
made permonerrt

&

—

*sntooo,ooo neiu

This yr.-\
SecURITIES

Dec.it
PennQ.RK.i

sold

June 15

Hudson Riv
franch is

the "20th Century"z'Tenno.Special"
beyjn to run

BOXER INDEMNITy

Feb./9

paid to U.S. in silver
fow)

July 25

U 5. to press case
against Nor.Sec. Co.

OANBURY HATTERS
strike A boVcott^Au9.3iq3
x

Mar. 10

Suit ffiled
(perAnti-tr law)

beams

^ee
7908

May 8

LM.M. formed

1929

Suit filed

C 27

HARVESTER

formed
trust

May 12. Extertsiue miners' Strike
Apr 2*

(Trusts on defensive)

here •

Anthracite
hits SJO per T.
Oct. 21

Miners ayree see Apr. >
^o orbttrate

2
21-

i"9 57
Dtc IS

Apr A

Rhooes Scholarship
announced
60£R W
ends
Centralized schools beotn to threaten little red schoolhouse
France produces I6.500 motor cars
*r.7Q8t0O0,00O kwh electric output th?s yr
1st arrest for speed?nQ (JVpls.j
Nailfor FRASER
Assn. of auto Nfrs has JJ2 members
Digitized
http://fraser.stlouisfed.org/
999,
j-44>
names on US pension roils (all C/rne hioh)(on VJQ)
Federal Reserve Bank of St. Louis

A "breakfast-food"Tiow a
("Sunny-Jim ")

Mar

Jqn.
Feb.
'Lame duck '

Apr.

May

June

Sept

July

Oct.

1903

Jan. zi
US. Colombia Canal >seeAug. y
treaty negotiated
Feb.i-r
USDept of Commerce
& Labor createb

Nov.

Dec.

NJoy.2

Colombian Senate
rejects treaty

USS Nashville
arrives at Color)
Nov. 3
Panama ~Rev.
Nov. &

U.$. recognizes Ppnqma
Nov. is

HayBimauVanlh -&•
treaty

"UNDIGESTED" SECURITIES hanqinq over market

"RICH MAN'S P A N I C " ^ ^
Jan.i

USSh

U.S.Steel announces
a prof/ tshoring plan
\.qets
j. tunnel
ise

(Newly formed trusts'
/»
stocks

Feb. 19

—Many wage cu

"rebates

ELKINS

Nov./2

June 190<o
(anti-rebate)
also
20th
making
BUREAU Of CORP.
records
new
estab
Apr
9
Aor 9
Nor.SecCogets
PenoA of VERGERS ends
e m Mnr
adverse decision seeAfa*»
'
771 Ct. ofApptols
Auq. 19

Apr. 18

"Beef
Trust Guilty"
1
~ Circ. Ct7
Aprz
see J96i Coal arbitrators give
Feb. 16 \»™«? 7^poifcn.io
shorter firs.

U.S. Steel
cuts wages
Nov. /4

Cotton mills
Cut

i trust
formed

AUTO DEALERS begin to increase TapiA/y
(Direct so/es- factory to customer - come to end)
8/3,

Mar:

Feb

1st Cadillac
Prod.

7st TrQvscont journey
by auto (bi days)
(a. Packard)
+2.1S

the Louisiana Lottery
ended bySvp.Ct.
arrives i:.
{largest in world)
Ju /y 4
Dr Wiky's Poisonsgaab actiue (see JuneJ90t>->)
1st PACIFIC C-PiBLE
'Radium
discovered

I Trauds in Land Office exposed
~Benj hojt hut It Q'caterpil/qr" tractor (m Calif)




Oftic

opened

Oct. 7
Nov.9
Dec i7
Lonolei/ fails ,
1st successf7

AIRPLANE

Oc

T

2z

(Wright Brc
at Kitty HQ-L

DAN PATCH
breaks \LCrl6record

7

Jan.

Feb.

Mar

Apr

May

June

July

1904-

Aug.

^Sept.

Oct.

Mar 7

H.R.resofutiov to
investigate low
prices vs. lugh Deef prices
Oi

s.Treosy pilinq up deficits aqoin

ia

Feb 23

and

* Ratified by USSenate

June 21

May 2.

Reps.rerjow«OOStKJtLl

Nov. ie

issues not .mpressive
Dtms

cuts (sma/7 but widespread) Mor :

°

71O7V

-

VOtcr>S

Dec.
COTTON CROP hits vevu record

COTTON n V*t

Mar. if
NOR ^F#r ^

BETH.

Co. formed
(successor
USSb
f J0

'

Lowsianq Purchase. Exposition (at St Louis)
(NYStLouis

built

in trod

COTTON 8<
Dcc.io

4

STUDEBAKER

ROOSEVELT

3+oo 777?.auto tour)A „ ,_, (7??verpacket-boots last stand)

^

55«^y

R t O Motor Car Comcor p.

— Prest-o-lite, shock-absorbers ^windshields introduced —
ce frauds

Dec.;

exposed"

goes into q
Fare 2

(Seattl

-K
h

Degms

-cost nearly $2000,000000
y

J 9*>t

f*fc\
'

MQY 9

Cy Young's
pitchjnG feat

I Tablets rephcma states m school:




-much borrowed rv neutral

Lake, ^uperror l/?st now furnishes 70°/° of U Sore
\ lndez>enoer't telephone 'Ca jt height of pouter

J u / y

382,000 acres
d
thrown
openb inM
S a /

4 *( ™L i9 )

markets

Mar.

Jan.
Feb.
Lome Duck"

Apr

May

June

Sept.

July

Nov.

Oct.

1905

Dec

June30

U.S. PUBLIC DEBT back down to
$2,13 2, 000,000 Sc stands

almost still for Jl yrs.

Transvaalgold[Prod.
now making new high records

1916

Entire c i v i l i z e d w o r l d

Mar 24

D'J. Indust.go
into nav high ground
(since 189(>)

Feb. 9
HR passes a
Hepburn bill

see Feb.
*

:EL

Nov. 2.8

CM 4 St. P authextension to Pac. coo
(last TrunkUne'1

July I

ty
Moy.o

to

Beef trust see y
/"dieted Mar.

Dec.

to end ofur

INSURANCE SCANDALS

dg.Co)
si)

96. -

"MUCK-RAKERS" w / r / ^ FR6NZI6D flNANCE etc. —
(the leader Me Civ res)

A r 7

C>8.7d>

P

Jan. 25
2S-

operation
J2.4

N

Call money 1O-J25°U
Wall St.
— Deficiencies in bank reset
sold for $559.per
r
Sq.ft.
^
— Near-mania For Farm a u r b a n l a n d —
Ivdh

A v e r a q e liability per Failure - $ 8913
1 r
(all time low)

Jan. 30

"Beef trust guilty'
"Sup. Ct.

June 7

Teamster* Stride (Chqo)

2o

w

(Cost of hu

Feb. i

JAV COOK6

Penvo.RR.& 20th Cent.
inaug J8?ir sched.
F e b 2Q
Jul
El Bond a Shore APf n
V 7
formed
State Bhr. day
IAV. VV. formed
laws held zmcovst

XV?$\%%!%&%l6t'r
/s£ ignition lock
Fold?77Q tops for autos introd.

W5 sJperced'es Gr Brit, w auctoproh.




Jst mi cf coverete road bui/t (Detroit)

s n s | n

-Rubber-f(red top buqq.es 5 « » and up
5ept. S
,„„
Ja
n •»«--.•-,,•-«.

P°. $£i?™
*$"
rts

a t

™

Jan

NAar.

Apr.

May

June

Ju ly

Auq.

1906

Feb.21

Sept

Oct.

Nov.

Dec

Jupe jo

PURE FOOD & DRUG

Passes Sen. 63 *
(after uyrs. effort)

Act (affective jjijoi —*)
\ June 23

Auq.
d enjoyinq prosperity

Oct. 19

Bk.ofEng.rate

Zfit

funds

VIOLENT SPECULATION

— TRUST COMPANIES expanding —

Jq|

(Cash reserves 2tf> of deposits !)

3|

—DEFICITS IN BANK RESERVES again

X' declares

Oct. 31

^ Auq. 17

U.TrSoP boost
div. from -^4. to

estab.
discriminate passes disappearing
Feb. 8
" ^
HR.passes a 26 Hepburn bill

June 29

*

Nov. 5

(I. C. C. c on now fix ra tes)

los

V

Mar 24
Beef'trust
Jqn.J9

C29

HEPBURN ACT

E.H.Harriman buying $232,000,000 of
other rail stocks (CN"/A:,*"B.O.")

—LAST MINOR PEAK mR.K.Constr
(S.M mi. this yr)

ac Quitted

103.00

—

1st all steel coaches
put into service
{Penna.KR)

20,693 a u t o s produced (over'/z runabouts)—

(averageprice f/,78+)

A p r 27
Ground broken at Gory,
Jnd. (8,000 acres of sand)
j Steadily
'Jw<)t too)

July 14
Apr 18-20

EARTHQUAKE
Fe b. 17

85.13
July 15

Jst doubk-6ecked
bus m NY

in Sav Francisco

oy 000,000 loss)

Lonaworth'Jioosevelt
nuptuals
Panama Canal excavation Finally
beams -^
*
7
^
Sept
J9J3
—"Alice Blue" —
Auq. 27
Electric horns mtrod
June 25
'Simplified Spell/no "championed by Tres. Roose.ve.lT
High button shoes & hair switches msty/t
Stanford White
McGuffey's Readers slowly disappear/ny
"The JuLnok"by Upton Sinclair (aoawstpackers) (bv^ HarruK. Thaio)
Digitized
FRASER theatres
5* formovie
becoming common
http://fraser.stlouisfed.org/
The
new
Traymore
(Atlantic
Cy)has 25 baths for ^soqiuzsts (Advt)
Federal Reserve Bank of St. Louis

Jan.

Feb.

AAor.

Apr.

May

June

July

1907

'.Lome Duck"

Auq.

Oct.

Sept.

Bond Syndicates in Distress

^ t
—Several large, failures —
"apanic like 18732(1893 is impossible"—
Oct.
"end it is vot due for 6 yrs."
Merc.Natl.

Nov.

Dec.

^90,000,000 ool6 Imptd

/.y /77 tro\

Corporations are borrowing ot short term

\

(Interest rates high)

$500,000,000 on deposit ^y^«./.
$300,000,000 " " by country Bks.

KNICKERBOCKER \

Mcjrif

Pb.mcorfff.ySf.
(premature)
(see Oct.-*)
—all US. crops below average —

Trust Co.failsSeveral StateBkholidays %%— - |
. MY banks issue NXC

Aucf.j

Dec./I

$29,000,
VI.
Std.ofNd

Stb.oflnd.

CMjiStP XocJds.

Atchison

see .

"Jiawester"

Roosevelt w
not seek 361
Atchison

Jan.7

Oct;

fiiUTO SHOW
a failure
(see
i
—Waoes 30% over 1890-9 levels —

— IMMIGRATION at all time

Sept 12.

(1,385, OOO th73 yr)

tC/5ITrWlA arr.inMX

(laraestw world) O c f | f l

Jan. 12

WIRELESS Nov.

Cleveland
gets 3^fare




Crisis in ecypT

see

*

Tonic in CHILI
O cT. / 7
7/7

Jan.

Feb.

Mar.

Apr

May

June

July

Aua

Sept.

Oct.

Nov.

Dec.

1908
Mpy3o

. Z3

ALDRICH-VREEL-AND

and see

1st session of tht
hlatl. Monetary Commiss
(see Jan. 1912)

Currency Act

^—Treasy deficits begin again and contmue for 3 yrs. -

Bread Lines

Dews, win many
state &> local £lec
but

June 18

r

.CH.certs.fi88,+10.000 'new

Rep's.nomTAFT A listless
y9
(Devuer)

wil/

campaign

J

Nov. j

Reps.advocate some TAFT elected 7(>(>1
tariff
revision
(1st
tiff
isi
(1t go
glf
l ying
i
(see Apr."*)

July 22

see Judge Landis
AU.Q. reversed bu
Orc.Ct.

Feb. 3
OANBURy HATTERS

violate6 anti-tr. /aw
- Sup Ct.

Nov.13
88.36

IS, <o90 failures this yr
(new hioh)
(24 /?.K insolvencies)

Dec.11

Sept 1 a>

GEN. MOTORS
in corp.
SS.6Z

Jan.21 *eb.i3

Women's smoking
made illegal m N'/
Feb'2

Oct./

July 1

Fraud

7*t ZEPPELIN

/stMODELT

flight

Ford prooiLceo

Cases"

NY-Fans (via Siberia)ctuto race (1 cars)
June

Menu Wi6ouj waltz delaying jazz
r'orwieo
7
1st HudsonRtunnel
opene6 Febzs
UKOKJtK
175 Co.%pro6. 5-0,000 aittos ((>0,0OO employees)

Prosperity
estab.
http://fraser.stlouisfed.org/ Leagues
Federal
Bank ofRR
St. Louis
KeyReserve
West
opened (Febs)

Ju

.'* 2Q

Sept. 2 3

Merkh's "boner"
at Polo Grounds

"A bear on th
country will a
broke" *
-d.T.Mo

Jan

Feb.

Mar

Apr.

May

Purpose (seebe/oiu)

"Lame duck"

Apr.9
Payne Bill(tari0
passes ff.R. 2n--til
(ivc/uded an inheritance tax)

sston
to

June

July

Auq.

Sept.

Oct.

Dec,

Nov.

1909
Aaq.5

July <

PAYNE-ALDRICH Act
(Average duties

Aldrich

Ju/y/3

Auq.19

'XSLAmdmt. Ala.ratifies see
submitted

(INCOME TAX)

1st.

— PIG IRON PR<

(see Feb. 19/3)

Dec:

COTTON K

POOR COTTON CROP

(highest s/n
Greenback d

June :

hit 26 yr. hiqh & level off for 6 y r s see
(Up 4.7% in 11 yrs since 1897)

191s

Nov.19

1897. CO

Jc

100.53

91

Nov. 20

— i 2 7,ooo Autos Prod, in U.S.this y r —

Std.OilofNJ
seel
must dissolve.
- Sup.Ct.

79.91
Feb. 2 3
Fcb 2<

organ

HUDSON MOTOR 1st Pro6.m July
y
C* R
T

HUPM06ILE
mtroh.

May 3

Dec

Jujy 15
Bleriot crosses
£779. Channel'!
Sept. i

Dr. Cooks
NORTH POLE see
discovered by Sept.
hoax
AdmFeary
j E.F.Weston walks from N.Y-Frisco Auq. 7
1st Lincoln
C.M.±St Taul reaches Seattle zTacoma
penny issued
Year
of many auto performance contests

http://fraser.stlouisfed.org/
f/ead-liqht glare &> dust nuisance 770m getting attention
Federal Reserve Bank of St. Louis

Cor. Wa
sold to
Trust Co
sq.ft. (all

Jan.

Feb.

Mar. Apr.

May

June.

July

1910

Aug.

Sept.

Nov. Dec

Nov. d
Reps, lose HK.
Heib both houses
U>yrs.(see 1894)

H~ & bills Wtrod. to ban margin
a7)dsee

a riFt appears in the R£P.
(see Jan. -*)
— PINC+IOT-BAIUNGER controversy

Oct

Auq.jo
COTTON Arts

ROD. breakmo all records ——
A
N
P. r 2June I 8

Beth Steel
ups wages

MANN-EtKINS Act
(more power to I. C.C)
June 29 *^

s
as.

days)

Ex tensive Frt. rate cut
ordered by ICC.

($9,000,006)

A 9 0 ^ on
~~here~~

Severe Depression in Iron & Steel
Jan.j
983+
79//

Mar 21

Beef trust
indicted again
JC.JJ

POPULATION: 92.000,000

a, round trip flight
(NY'Phih)

ill ^Nassau
0 Bankers

o.®$6Z2per
\l time high)
Fzb.8
Boy'SCOUTS

June 13

13XZ
July 26

Apr. 21

Dec.KAmwndsir\
reaches
5OUTH PO

June 19

"MARK TWAIN

Postal SauBks.
estab.

May 18

founded
HAU/EVS COMET
Movie censorship being demanded
1st Hindoos arrive in Calif.
Tackard denounces 6 cyl cars
1st left hand drive auto appears(Oioens)
Windshields
now regular equipment

http://fraser.stlouisfed.org/
Amer.
Iron
&5tetl
Institute
Federal Reserve Bank of St. Louis

here

Forest Fires
(Minnesota)
-Loss $100,000,000

'Jan.

F eb

Mar

Apr-

May

June
•

"Lame Duck"

Purpose (see below)

July
f\

Aucr.

*

ii

Sept.

Sept. 2.1

July 21

defeated in Car?a6a,

Sen. concurs

' DOLLAR DIPLOMACY"

PROGRESSIVE PART)*

Nov.

I/ ||

Aptr.2i
passes HR
23

Oct.

^

S€Veral

July 13

formed

LoJFoUette. breaks
with Taft ^

Febis

Loan to Honduras
$7,soo,ooo

Aprisi

May 20

2 Chinese loons

floated in USJan.i

US.Steel estab.
ol6- aye pension
Sept./
(»

y IS

Std Oil of N.J.
giver)

•> Dissolves

6 777os

to dissolve

May 29

Oct. 26
*

Anti-trust su?t
filed aoainst U.S.
Steel

Tobacco trust
d?ssolution ordered
Junei9
6*7

Man

1st Parachute jumpr
Mgr.i
'
a
)L£

•H<pht

inbustry)
Feb.n

72.9+
Sept. 2.5
Many strikes this year

ELEC. STARTER
(on a Cadillac)

motor-truck show (Mab.Sq. Garden)
Bl6o. &LoanAssr?s. beoin to thrive
Farm Bureau ory(J3roome County, NY)
Taylorism
 (scientific management)popular
http://fraser.stlouisfed.org/
iV/sc enacts 1st state income tax lauu
Federal Reserve Bank of St. Louis

1st Trans.Contf/ioht
(Long ls.-LosAno.eles)
(Experiment with air-mail)

Dec

Feb.

Jan.

Apr.

June

May

July

1912

Auq.

Sept.

Oct.

Dec!

N ov.

Agr.is
Jan.8
xv/il ambrnt.submitted
(WLMONfiTARy COn.
(Senatorial)
reports to Cona.—advocates a "RESERVE ASSN. Of ACIER."
16 bills introd. to outlaw cotton Futures contracts

June

RepsnomTAFT —No great issues —
July z

Nov.5
> <•

Au£[.i7

Dews, win
Wilson 63

9X777

07? 1(>th (Baltimore)

L
\

(Bull Moose)

Taft 35

HUGE CORN CROP
3,115,000,000 bu.

(all-time hiyh)

Dec. 2

P.SrS.P. must
dissolve"
SujxCt.

Anthra cite
strike

Sept. JO
94.75

Apr 27
80.15
Feb/o

Jon.6

Nov. 18

PU J O committee
tstab.
(to probe. "Money Trust)

"Bathtub trust
must dissolve'
-Sup.Ct

Feb. 14

fi.nex.
admtd.

ARIZ.
admtd.
Feb. 12.

CHINA
a Republic

now:
980,000 au

in US

Apr H-J5

TITANIC

Player-piano era

<3/sa,5£er
M a y 23
(5er/77an S.S.I

launched (btooest yet)

Stolen car menace begins

Black
tire treads beg?n to displace white
http://fraser.stlouisfed.org/
rnjBankers
Assn. o/'Arner formed
Federal Reserve Bank of St. Louis

Ju/y 15
Jim Thorp
acclaimed
at Olympics

here
Balkan War

Jan.
Feb
"Lame Duck

Mar-

Apr.

May

June

July

1913

Auq.

Sept.

Oct.

Nov.

Dec.

Mar*
Oct. 3

return for>
to power
dyrs.

(have both houses *—A new tariff bill before Conq.
1st time since 1861)

UNDERWOOD TARIFF
"*
effective
aver, duties cut to 27%
(an income tax, too)

Dec.2j

gc

Anew bankinq law before Conq. -^ ) FEDERAL Rl
Mayji

23ZL A mbmt. efftc tiue
(Ino
rax) see Oct.

—

XSZE Arhdmt effect? ue
(Senators)

a t tnis

r>« -*/s

time:

****»^

3

June JO Na+|. Banks hold A U.S. Int. Bear. Debt * "
Sl200nerCaD
G°/d Certs
r?owmost
important
element
in ;U.S.
monetary
circulation
(sAi9J
July 26
ayainst AT. AT

Dec. 19
5O

disposes

»U. to CO7

STRIKES &ANTI-TRUST SUITS PREDOMINATE —
(a factor :"H.C.o/Lr)
^Sept.z
Nov. 13
against READING CO.^ against HARVEST El
^ Nov. 29

— 1,100,000 autos Prod, this yr. —
(average price $975)

Jan.9
88.57

against AMIR, i
J

— Chevrolet introb.itTord assembly line estab.—
— Gasoline 22- is'4 in SO gal lots "
Mar.+
OEPT. OF COMMERCE

72.11

nearly hits

June 11

A LABOR, divided

(1218,000)

Dec./o
>tos

Floods in Ohio Val

difficulty
(passes 01 v 1st
time, in 1-0 yrs.

A/lar. JI
Apr 2 *

VV/OOUVORTH B?d9.
opened
1st wire wheels for autos
Parcel Post estab.
Lincoln Highway Assn. formed




28

PALACE OF PEACE
dedicated
Th

Feb

Jan.

Apr.

Mar.

May

June.

July

Auq.

I9K

Sept.

~ .| C

Ccin

r

Dec.

Nov

F.T.C, created

GOLD IN U.S. £;,900,000,000
&

Oct.

vJCT. /5

U.S. & France qain $10,000,000,000 qold in next 20 yrs.

CLAVTON ANTITRUST

Act (df
(def motive)
Nov.

23

RESERVE

F.R.Banks opC7?
/ d $ 0 0 0 , 0 0 0 90W)

7/3i /V.y5.E. closed (all call-loans frozen)
^ ^ • • * * * ^ ^ ^^ %

June 30

J

*%**^7^3oo,000,000 AidrVreehnd notes

issued"

$9^8,000,000
(seeAuy.1919)
5

$ value of U.S. crops hits new hiqh £10,000,000,000
(Wheat&,cotton yields break records)
Oct.29

/

omply

FR.-TURK.

' Ju(y 28

Nov. 23

AUST.-56RB.

,-/o

PORT.-GER.

MASMt

June 28

GER.-RUSS.

SARAJEVO
and

Jon. 5"

0 announces
tinirnurrt daily
ye (see Jan. J9/9)

Mar 20
3 3.+3

FR.'GER.

May 18

PANAMA CflNAL
opened to commerce

— C o t t o n A/lkr. is demoralized—

8£LG. invasion begms
.18

Auq. 2?

^5 1907peak
~

to
< •»
t
\Jum30

JAP-G6R.

S%jnc.inFrt

7This
7/ y r

-R.R.wQQ'es or record hiqh levels RAKrROAD CONSTft. hits +9 yr./owzsoon becomes insignificant
IAV.\V. becomwc) wore powerful

&
t

Indus, stocks^
~*Dec

hlt 7 7 Iouj
( D /j)

Ju

^y 3J London stocA Exchp. closed ~lst time in Hist.

Colorado Miners Strike (much violence)
••

- *

Jan. 28

U.S.Gerwire/ejj
estab.



.

/

—

)j

Apr 21

U.S.Marines occupy
Uero. Cruz

. „„

z

Jon.
Feb
"Lame duck"

Apr.

Mar

June

July

Auq.

Sept.

Oct.

1915

Dec

Nov.

here
U.S. GOLD STOCK
o.oes over
Thisyr-

Jsoj5£**2,000,000,000

U.S.GOLD PROD.-1:888,000 oz.
(all-time high)
U . S . S I L V E R PROD.' lff9Gl,OOO

oz.

.«,.•
"~
(a//time high)
F^d.^es.Redisc.rates remain low all year —

Wheat$1+8
highest in llyrs.1.

This season
•• USAUHEAT CROP over

see

1,000,000,000

bu.H (all-time high)

— £1- % of our Exporis ore Aqric. Prod. —
Jan.5
Danbury Hatters fi
must pay damages.
—Sup.Ct.
22.156 FAILURtS this year
(new high)
Feb 18
«

its
. rates

Sub. Zone

setup by Ger.

"65"" <T2\
(see Oct)
ft q Iron

COM(V\ODITV PRIC€5

99^

Pig Iron
(see, Jar)!)

"(Buffalo)

May 7

f

Mpyio
Too proud to fight"
June 8
Bryan resigns

Feb. 24

May 2*

figlronProbl
y,us,oooT
(new high)

Anglo-Fr. /oon negotioced
in U.S.
($s"oo, o oo, ooo)

> (Buffalo)

Dec.io

i, 000,000 thm

Ford Prod.

1908)

Jan. 2.5
.V 'Frisco telephone
service estab.
(only io mi. underground)
An 8 Cyl Cadillac is the rage of the show
Many state prohibition laws passed




foQY)ama-Calif, at SanD/'ego

(/Wyear)

Jan.

Feb.

Mar.

Apr.

May

June

July

Auq.

1916

Ju/y/7
FED. FARM
LOAN BKS.
estab.
Jupe^o
U.S.INT. BEAR.DEBT
$9 7 2,000,000

Sept.

Oct.

Sept 7
U.S.SHIPPING BO.
created
Sept. 8
INCOME TAXES raiseS *
introd.
scLmt day:
f AVA TAU S SIG warnedtotariff Com.

Juneii
Xeps-norn. HUGHES
on 3d (Choo)
"He kept us out oF war.11
June is
. renom
at St. Louis

(h

£
(all-time hiqh)J

Dec

Nov.

Nov. 7
WILSON wins 9V8S

' ensues -

ADAM SON LAW

(passed 1 n 100 hrs)
(Rails lose power over labor)

of cha,t
N o v i .
no.J5

ic.19

Sept 20
D. J. Indus, stocks
90 thru / 906 high-

Dec.ii

NYS.i.v
(I5ijr.hu

8f9(,
Feb. 1
OS STEIL grants
10 % lodge inc
Mar.9
VILLA raids
Columbus.N.Mex

PROD, thisyr. 1,(0/8,000
M ov 1
2, another /o%

M

\ July//
Fed. aid for roads
enacted
(1st in 100yrs) Auq.27
Julyf
RUMANIA joins Allies

U"-BOAT OEUTSCHLAND
comes up at Bait/more
July 22
rreparedriess-Day Parade
in 'Frisco
(Mooney & Billing's trouble, begins)

US.buys Danish IU. Indies ($25,000,000)
Durant noiu Pres. of CM.
M acauleu " " " " Packard
CiU.Nash
A/as/?
Digitized
FRASER
N.AforCC.WQrns
against installment soles "ev//"
http://fraser.stlouisfed.org/
[st Reserve
publ/c
of Fordson tractor (Fremont, Nebr)
Federal
Bank ofdemonstration
St. Louis

Dec.lfc
and another t
(see, May)

collapses

Jan

Feb.

hAar

I Apr

May

June

July

1917

Auq.

Sept.

VUAR REVENUE ACT

the DRAFT Act

Incomes over #2,000,000 pay 2/i

{Selective conscription-Qges 2/-J/J

(high water mark)

Oct. 6

Treasy. DeFicit in 53
(see. next yr. -*)

ACT

(Govt.pri&fixity)
Apr 6

June 15

Veb3

ISTLIBERTy LOAN
#2,000,000,000 3'A%

M

?

r5

\

(/ 72 times sub)

hold fa 8 7000,000

USGoutSec.

£3,000,000,000

' u/z times sub)

GOLD 6.XPORT5
This mo.
restricted
F.R.CREDIT Outstdg. ±
goes over^i,000,000,000 5

^"7,39^000,000

(for 1st time)

(a/Mime high)
Afjr.7

\
Dec

-War Savinqs CertiFi cotes " ^ j ^ " ^
— Labor ^Fuel Shortages Appear — , a//R.)
M
VV
(McAcSoo— Meatless Days and Suqar Cards —

f.R.RATIO 84.7%
d
, ooo7ooo

u

Oct. 1
20LI86RTy LOAN

Sep^t.10

!

OOLO C€RTS./>?c/>c.

Jan. 3
I 99.18
A

IVAR R
REINSURANCE AC
(t0
f°restc" futuTe PensioTfS)

Fed.Res.Rates held below A/lkt. to Faci litate Govt.bor

Unrestricted Sub. V W A P
• begun
Diplomatic
severeo

Nov. Dec.

Oct. 3

May 18

Jan-3

Oct.

Apr*

June /9
COTTON

over *2°*
(Ch9o)

Nzgro migrations to the North

I
I
e

0%

May 1

- US Steel ups
wayes /0*/o

an

Oct. 1
another70%
IMMIGRATION

Mar. 15 I

C2AR abdicates




I

June zo
f 6/Jf. soldiers
land in Fronoe

(only

June

Feb.
Mar.
Apr.
May
^ Longest session in U.S. history ^

1918

Mc

Sept/2.

28

FINANCE 60.
V
created
WAR. INDUS. BO

te6
I Jan. 8
S "FOURTEEN POINTS

i

Deo.

I Nov. 2*

Apr.9

3

Nov.

Oct.

Sept.

July

Apr 23

War- tfro* Prohibition Act
(effective June3ot 7919 j
Nov. 5
Reps tuin both
Houses

26 DRAFT
(ayes 78-?5)

created

PITTMAN 5ILU.
act

German Navafl
Mutiny

d sa
sales —
ond

— U.S. Lends fillies £8.585,000,000 this year —

F<zd. Res Notes nocu
become most important element in u. S.
Circ.(seeDec.t920->)

to

ARMISTIG€

.306,000 wen,
I

Mar. 4

mm.

"

sent to France,

stgneo

(record mo)

3D LIBERTY LOAM

Oct./9

$3,000,000,000 f"/*%

Man,

(I'M times sab)
"""Non-essential security issues discouraged"

i/i/n

4

Nov. ii

$^000,000,000 f'/t% (/933-J8) see May

7/?/s

(

^ y

s5ce

Afaftw trucks built)

Nov. 8

^fS^&SjSl

- O n l y 9,378 Failures this y r . "

p.R.*Rmio

(3eeMw./920)

49.8%

\35yrJ0uj!)

ouer
IR.S

I

Oct.i

16

>* * W e (9%
s
reaching new hiqh levels

another10%

S.Sfee/opj
UX7CC5
%r
/6 %
M
May

i

wages
59.O7

Much Price Fixind

"WAR GARDENS
Apr. /o

73.38

Jon./5

^ £ 8 6 ACT (export
industries now immune
to anti-trust laws)

Suyar cords
cut to 2&

June 3

"Child Labor Act
Uncoost-Sup.Ct
- A n t i loafinq laws enacted by statesMan 29
a "Big Bertha begins M a y IS
to shell Pans
Ny.u)Qsh.mr_
see
rna?l begins

Nl hits so yr. loio this fiscal yr. ~
y 111,000)

Jg/#y 26




Jco£

Ford stops bui/d/np
passenaer cars
to cnoofwar)

FLU EPIDEMIC
Sep#f:io
N.Y'Chgo.Qjr
mail begins

Nov<9
• 1

RepofGer.
founded
Nov. 12
•

Rep. ofAust.
pound t6

Jan.

Fe b.

Mar.

Apr

May

June

"Lame Duck"
:t

July

1919

Aug.

Jan/6

Oct.

Nov.

Dec.

Nov. 19

lOi/son collapses-* SEN, rejects if

j JSMArndrnt.
ratified (set Jon.*)

Junes
_ Amdrnt.sub
(Women's Suff)
4i 8.515,000,000 \i\to<&o
4
DEFICIT $13,376,000,000':)

^ to
July 11

Sept.

-"LEAGUE OP NAT'IONS11controversy -

LOfiN

.£7.500,000,000

here they startsdiing $ dispose off;, 9S5.000,000
AllMtMB.6KS.nowhold May /fe
in next 18 rnos. (to end of 1920)
H 651,000000 U.S. Gout. Sec.
F. R. Bks. 'now hold
(recordh)gh)fsee 2yrs.apo) ~» ^1,8^500.000U.S.
Gout Sec. A- they,too,szll$i,2S9t5oo,ooo m lyrs —
May 31
May 1922.
:
U.S.GOLD STOCK $3,i77,ooo,ooo(F.fcholds$2,201,000,000)
Man 20
Nft. June9
£ unpegged
GOLD EMBARGO LlfT£D*qold Flows out to end of A/larch
Nov. 3
(seeFeA
7/9.62
[ABuildinq Revival Set5 in —hitspeak in J926
here(J-luqe Output of new securities —
Nov. 25
J<
(Both were restricted during war)
5/LUER^/.38'/t /
(Ejcptpoint)

N.Y.S.E.Vol.hits I9OI ^ 1906 Records -^—I9i<ohioh(iio.i()p2erce6
This mo:No auto show l%
(only 2,8 33 Prod)
79)6
Feb. 1

This year'— 8 % or fnterurban Milzoqe into Receivership —
5e^
Strike at Gary

MANY STRIKES & MUCH L*BOR

prn<S (Castoflwinoup80%sinc£j9J4)
" ^ 5ept.9-/2.
FehG
R. R. employees
Bos to~n Police Stake
*
force ujQ<pe?r?c
Gen. Strike
— PROFITEERING * J O "Fair Price Committees" estabJan./ at Seattle
Fordraises win. — I.WAV. 8r Communi5ts("Reds")active —
wages To £6.
Mar/5
-GROSS FARM INC. ^1^,935,000,000(a/Z-timeh^h)this yr.
Jan.
THEOROOSeUELT




NORMAL PROD. IN EUR.IS D£F£RR€D 6V MONETfiRV &
Ju n cj4-15
/^ucj. M ^ Mark now worth only
uaiue
1stTramrAtlnon-stop CARfVeGl£
fhght(Brou)ne-/\lcocK)

+oo,oool

Jan.

Mqr

Feb

Apr.

May

June

•MHHBMMiaH^

Jan/6

July

1920

_

(

Sept.

Oct.

Nov.

Dec

Au#C{. 2 6

j KZLAmbmt,
j g ; ^ m # ^ , t ratifi
ratifieb
(Womeris Suffrage) m s
^
f.R.CR.OUTSTDG.HITS.$3.525,OOO(00i!
RtPJ^OUNJS
HIT 4 2.782,000,0O(

- £o<V 'Keseruar/om'Vieiate^
JSHKAmdmt effectiue(seeJ)ec!933J
'/•time, high)

Auq

/Ml

N ^ N puB. DEBT

>

/%

/V

/

\

-F.R.Bks. show big earnings this yr- "~
6W<3 Imports begin
U.S.9old6ou>nto$2,^.000,000 - ^ a > ^ ^ ^ < i ! | t

F.R. banks
art to raise rates \ ^ r e e
Feb. 20

>Mernb.Bks. start liquibotinp loons & investments ,

F.R.R^T

(>io2j 79,600 ^^afe iB/c^. ^/^ ^/.xS.)
frozen)
June/i
"League oF Nations"
^m.'/zo^.HARDINO
^ ^M
onlOth(Ov)$
"Normalcy
July 5 ^ /?e^5 >^pc^i ^ / 0 Q 000

37/O/

/
°
^
(newlouj)($ee, Nov. -y
Mar 2

Nov. 5

Dec

\ f .R.R-ATIO
Nov. 2 v**%

is

a trust
(
nunpep?ed

^ozl&d

•« - .

^

July 31
piQ-JRON CRUDE OIL ^ tstreg.eveni]
US.Steel
*+8.50^
*3S0^.
broadcast
COTTON
Unt Tonn. IUIB<H>Z T.
^
^
£now down to
(all time high)
Thisyr'COTTON
EXPLS.HIT
$1,382,000,000
1
(all-time high)
T
Dzci
/ b i slashe
pricjts from
K
tim.<z high)
VS7Sto*+<M
FARM LANDS at highest Price Levels
^^ . j

Afz/K^y cy? 5fcr//te
Mar,

w X^ J\_ J\ Q ^^ f\^\

flj^
et y
7
ce

$ returns RRs
to owners
C ACT

MY"! T^TTO O ^ y i

« (all-time high)

Mayi
see
Wages upped 2I'M

U.1S

July 31

ICC 9ro^fa general
Inc. in rrt. a ra55.rafe5
—t/LcKC*AW 26 revived —
-PONZI -

POPpt^TION-106,000
SEDftNS beqi'n to displacetourinq
hAn\/

15

/ v i y y »o

"Main Street" by Sine/air Lewis
istUSLft&OR 6K.
2+00
Daitu N&usDcavrs in US'. . (opened in tyash.DC)
tecRefrJoeratmsstillaluxus/fa

http://fraser.stlouisfed.org/
Persian oil appearing in world Mkt.
Federal Reserve Bank of St. Louis

1 1

A

^

July2S-/^CI0-&
/c/

y^^cr^ryt Explosion at
Broad &lVall

Jan.

Feb.

Mar.

Apr.

June

May

itiialUime
)O/

highs

Aucf.

1921

"Lome DLUCA"

Mar.4

July

Sept.

Oct.

May 1/

NOV. 2 3

excess PROFITS TAX

PACKER-STOCKVAROS

REPS, resume power
for 12. years —>

Dec.

Nov.

^ May 27

,

7

•" '

TARIFF ACT

*• ^ACJT

.

. »

\

(antt'trustjOoomst / industry)

repealed - C077?. /nc. tot
raised from IO%tx>l2'/i%

to "protect" Whject -35* duty
Cotton 7i ""
• - " " War Babies - other duties
AGRIC. BLOC forrninq
in Congress
(F.R. blamed for fallinq
prices)
y
V
y r
1
(see K*Jn/n)
m
Dec. 7

Gold imports this yr. • $667,000,000 —
(nziv record hioh)
(See /9J*»)

vCirc.hits

X)0O,00O

ihigh)

PR.RATIO

June/o

il930

BUREAU Of TH6 BUDGET
created

May 20

—

-

Noy/'
(VIINGOCOUNTy ju/y i
R.RScut
wages
» under Martial low tf.Rs Cut
cuqain I0°/o
CUTS ^STRIKES —^
>
.. . . .
.,,.,0
Hoover Unzrnp.
July <fe
/\u(j. 19
Con/at
^
USSTEELaxts
Ford shut down
• another cut -* 3r(i cut /
tua9€5 20%
for (oivks.
'^735,000 unemployed(DepC.oflcLb.est)
Nov.
Wheat now Dtc.iS
t'trthe 1920-19 level (rouqhly) (see short rebound in
Mori

7f Cement Cos
indicted

This yr- 19,98 Z FAILOReS /lab. '«*7S"o,ooo,ooo (=75%over
previous high)
/ViQy/9

-AUTO & CONSTRUCTION
-"FA IR R 6 N T " L egislatwn

"Gasoline TRACTORS new increasing Agric. j

IMMIGRATION QUOTA
A

Apr. 11

(3°AICLUJ)

URBAN POP. NOW EQUALS RURAL
Ger. Inflation begins in earnest

knee high skirts universal
'T/?c Prisoner^ Song" making money for Victor




—

Unprecedented crop failures in Russia
also- i+s,ooo rubles = * / * °

H.R. passes
see Auuo.r
a bonus bill 330-70

5 EN. f 7-22
^ Se.pt 19
Vetoed

Apr (

This mo.--

F0ReiCNDEBT.COM.

Gold Certs, in arc. now

.

opptb.

^

S

Nov.7
REPS. lose much of their mai
PROGS.now hold Bai

?Pt(9

f ORDM£y-McC U/VIBE R

Sown to $ 170.000,000
Tariff- Act
(lona time tow) bu.t nearly*i.ooo,ooo,ooo are put out innext -ISmas. (not high'but'flexible")
(•-.seeMar. 1917)
TKism
(see Dec.l9Z5->)
^**
FR.Bks.now hold only
$to+,ooo,ooo Go/dSec.-* but sales continujz'se* "'"i"0

US COLD

^-sejzOct2ojF.R.Cr.Outstdo.^J,i03,oooJooo (seejulu2*->
(*- " " "JRediscounts $380,000,000 (saeOct.23-*)
m+.-

***

now.

(nevu -record
(see Dec. /9Z3

State. Bks. in N . y . ^
beqin to branch o u t

8,24 9 A/atl Bks./n US.
T/fi close innext fI yrs.~>

M
B . borrow
soo,oco,ooo
(see O

s

SAfVK ACCePTYWCe. (V)KT.

begmstogrozu

Oct./5

-AUTO PR0D.HIT5

2,^^000(newhigh,)-

FORD cuts prices Ss-o
Octti
/03.+3

INSTALMENT SALES start

iro expanS

, etc)

— /,600,000 srri/cers —
-+hz' Avnzr. P/anbcinqr evo/ved —
7S.S9
Jan JO

HERRIN COOWTV

t. flourishing —

RR.Shopime.7js' Strike 1
May**
RXs 'citt
. 22.
zuayes 13%
US Steel inc.
— / i e a v y Orders for Frt. Cars'
zuages 20%
(/08,000 -high s;y?ce 19/(0)

- 2 2,415

(ntiv High)
prod.

AlayiS"

— & surpasses i t

"Child Ijabor Clauses see ^
Apr. 7 zcn const" ~SiLp.Ct. dunc'2+.

Rubber
Plan estzxb.
Rdichsbank To±e /0%!

TEAPOT DOME

lease

Receiving sets (with head phon<is)se2iinjgfoLSt

Sports
incoming\bic biasmess(fbotJbQj/,7xzseba}7,yojf)
http://fraser.stlouisfed.org/
SeueraJ
state legislatures levy gasoline tajces
Federal Reserve Bank of St. Louis

MUSSOLINI

Auq.2.
66LL

comes to power
(1st Cabinet)

Mqr.

J an.
Feb
"Lcum Duck"

Apr.

May

June

July

Au^.

Sept.

Nov.

Dec.

1923

1

DISARMAMENT TREATV
sorted

WAR
JuneJ9
Jan 1<
9 US-BRIT. Mar.
i s D6BT DISCUSSIONS^,
Agm't!,
I A9rnt.rea^e6
jst Pmtmade
Last Phnt. dice?7) 198 f^f
Mor 3

HARDING

. CR.6KS.
created

(Coohdye takes oath %)
This 77?o.:

rbcK

F-R.6KS. now hold o y
$S4,ooo,ooo Oovt.Sec.

op, ooo

-,

kA,

,

,

but bZLU ZSOO.QOO.OOO 771 I Z/T.

Op<z.n Mkt. operations enter new phase -?

TV.

'

'

/

-REDISCOUNT RATES STABLEryl0

Dec/9

'rl

Casto/ PENSIONS $2(,3,000,000
(all-time high)
EXPORT SURPLUS hits new postwar
($l5-+21O)

U.S. GOLD ST
^

70,000

(SI933)

post-war rebound & hold fairly steody until Dec. 19 2.9
: 20
/0b~38

Decline in K.R.passenger revenu L

Apr. 9
U.S. Steel raises
wages //e/° 1
{2/tooomerh)^

8Hrday estnb
by steel znchtstry

0ct27

Bricklayers
Strike

- 23,<oll> Fai lures this y r (Tiezv high)

get

per day
fst

Auq. 7
broaocast

0/ IM

72071-Stop

Transcov t. flight

Jan.

Or Coijue

NY.

£os s t t

-Ethyl Gasoline comma into u s e Thismo.:
(36states now have pas £ax*s) UN/ON OF SOVIET REPS

here:
Rithr
Occupation begins - enSs m Oct. /92?



formed

t

ooo, ooo, o oo
OtTS

Oct. 7
Ocr. c; re. estimated to be
/sof ooo,oooyooo,ooo;ooo,ooo marks
Rdichsbcwk rate
(l tri/hoit Tnarks * I*)
30°/°
— Germans complain of a shortage of

Jan
Feb
"Lorm Duck"

Mqr

Apr

May

June

July

Aucr

Sept.

Oct.

Nov.

Dec.

DISARMAMENT TREATV
Jani9

US-BRIT. WAR D6BT DISCUSSIONS^
/st Pmt.made

JuneJ9

Last Fht. dice ?v 1981

HARDING

. CR.6KS.

(Coolidpe takes oath %)

rocK

FR.6KS.

oy

$84,000,000 Covt.Sec.

00,000

^

KA, ,

1

hut buULj %>5O0.Q0O,0O0 771 I IJT

Open Mkt. operations enter new phase-*

'

-REDISCOUNT RATES STABLEr

Dec. 19

fi&*P Costof PENSIONS $2(,3tooo,ooo
(all-time high)
KFiscy£ EXPORT SURPLUS hits new

/

U.S. GOLD ST
$ +,zi
0,000,
0 0

(-to / ofzvol

postwar

1933-*)

widi>oP post-war rebound & hold fairly steady until Dec. 19 2.9
/Aor. 20

Decline \n R.R.passenger r^venue k

8 Hr.Say es/ai.
by steel industry

Apr. 9

U.S. Steel raises
wages //A
(2/1,006 men) y N. V. Bricklayers '
Strike
ott %nso
per day
Erratum:
Failures did NOT hit a
new high in 1923
^

Jqn. f

1st
Transcjon t. flight

Dr.Coi
)

OLTT. 7

i /V.Y.

-*
Richr Occupation begins - ends m OcZ. /921




Oct: 27

Auq.7

o / IM
Sept.! i

wese i
I os s' 11, ooo, ooof o oo
Oct
*

This me:
OFSOVI6T
formed
^
^ H *r ^

0 ct. 7
Oer. c/ re. estimated to be
/ $o; o oo, oooy ooq, ooo, ooo, ooo marks

Reichsbajnk rate
(l trillion marks a I*)
30%
— (jtyrnanh complain of a shortage of Cc

Jan.

Feb.

Mar

Apr.

May

June

July

Auq.

1924

Sept.

Oct.

Nov.

Dec.

Aua.ih-30

DA WES PLAN anb
defeated
—mcxnu debt funding agreements with smaller nations ~~
*A BONUS 6ICLN
June.iz
9/23

Vint*

H'R.
Sen. Vetoed &
355 (Ao/Comp.
Sf
(ol-n
Certs)overridden
fflu£iril 9fS)

July 9

COOLlOGEz^Vzs
'5-7-8+

Dems.nom.DfW IS
on 103d (NY)

(Publicity for returns) (see Septi 9Z5-*)
Gift & Estate taxes raised
F.R.Cred™'5 mo':

•-*••

Memb. Bk. Res. go over

?2, ooopoo, ooo (new higti)
* — R£D/SCOU(NT RATES REDUCED
)0,000

N

mid gold)

Jhtsyr

KFftl

(highest since 1893'.)

. ^ee
i /927

F.R.Bks hold GovtSec-test,ooop

(lows since J9I7) .***
(sD928L**

IT.

— •£ .
tnisrno.:

Rediscounts &2Z9,ooo,t
^ (law since 191S)
(see July 1928)
U.S. qold $1,521,000,000 but(o2sosee Jan J 927)

Bks loans s, /nu. zcp. $2, ooo, ooo, 000 •
/, 800,000, 000
deposits
rotes at, 9 yr. lows —

new ruga 12.0s
^
tut Mkt rruakQS new

each yrfor 5yn

Ju/yJ9
». V M

May (931

A (joes over par
[ Ju/y 22.

Apn

Jacksonville Agrnt.
(Alr
& Operators)

May 20

"PITTSBURGH PLUS'1
violates Clayton Act
-FTC.
Dec/5

the/0,000,000 th
EMIGRATION (701,000)

COMPtRS

(only 2,900,000 members)

FORD produced

Au

$~7

"Vans'propose to
AlKnC&0\

_TEAPOT DOMEezposeA —

Brie, PM.\ see Jan. 1929
andHV)
9/ZQ

Feb. 3

2 U.S. Army Planes fly around w o r l d

H

WOODROW WILSON

CELLOPHANE over &2soper&(seeJ935)
(feuu uses for it)
u



urrencu-

Rumanian Oil Fields enterjnq production

5ept. 27

eoeey

zuins Til's 1st
tournament

Nov. 25"
1st
BROADCAST

Nqv.ao
1st pictures trans
i
by wireles

Jan.
Feb
"larnje Duck"

Mar

Apr

May

June

July

Auq.

Sept.

Oct.

Nov

1925

Dec.

Sept. 1

Mar. 4

mcowt

Covt Salaries
raised 20-30%

TAX RECORDS

published
(John D. Jrpo. $(>,Z76yooo
Ford Motor Co." */l>,5OOtooo)

(inc. Sen. a, Repr)

sec

,0)0

(,sts>nc*,920)

PROPORTION OF 8K.

Nov. (o

159.39

,ooo gold flows out for
i
Enrop. Mon Rehab, (see below)

77115.7)10.

GOLD CtRlS.
in c;re. bock up to
tl,U3,ooo,ooo

but over Z5°/* zuith-6rawr\ m rmxt <tyrs. -*

« - REAL ESTftTE SPECULATION — most virulent in Florida—*
Bookkeepers' aver daily7 ivaoe- & *?*°
Carpenters

115.00
lAQf.30

rs.

Apr.i

*

(see Sept. / 92 6 -*)

/2.*~°

(«-sSee /Q9l)

hl^S.^MQ cuctos prod.

. .
^5^
ft
—Auto Prod. nit5 new hicfh this y r

pay tM<otooo,ooo

^

(all-timehi9hfor Q)

June
P/iS" ANTHRACITE STRIKE

(/SRO00 7nin.ers)

CM.*SLP.mt*
receivership
Apr. 13

AirFrt. lineopene6
Detroit-Chfo.
(Fora)

July 1

Over-night cur-maill
estob. (N.y.-Chgo)

A pc. 29

ffr/c

"Venezuela oil fields enterinq production-

A Ufx. 18

*>h±Joh

Nov.i+

BR\J.retu.rns toCOLD
(see gold txpts.above) j u n e l 8

^ BELG.W.debt-+ FR.W.debt-* \Tf\L.W.6ebt
j • funded
not ftended
funoeo
This rnc.
Mawr
Tvzre:
perhifts

FloydCoihns
in CL cave



-CROSS-WORD PUZZLE

vootcebepins

(at

-"RED" GRANGE-

Jan

Feb.

Mar

Apr.

May

June

July

Aua

Sept.

1926

Oct.

Nov.

Dec

Another Me N ARy-HftUGeNfed/debate* *6efeate6
("farm-relief)
^
Hj
212-1G7

i EXPENDITURES-^ 0

-Chain Bankinq becoming pronounced

2,975,000,000

(post-war

loiuj

s*£.

—Pub. Util.Holdinq Cos. becominq popular-

Gold imports begin again
(each month to 9-h 27—*)
135.2.0

Mar 30

-COTTON CROP/u£s H900,ooo

(all-time high)

— A u t o P r o d , h i t s a n o t h e r r e c o r d p e a k ~"

(+,50t>,000 =up 2°/>)
also

baits-

^^P 1 "' 2S

Ford adopts
5day-8hr.wk.

very qood Construction year ~"

(fuXiU)

(ht air-cooled dept.store)

Mar. 2.

5ept.i7-ie
FLORIDA HURRICANE

IC C Semes Vans permission
to merge CzO, Erie,
n.V.,NKPt
Aug. 5

"Tf\LK\i$" appear
On NY)

MQy 15

£ ooes over par/

Oct. 25

29

franc worth.
Mar 7
1st NY-London
radio-phonemes.



encircles A/Pole

.

Sept.z

BELGIUM returns

to gold

DAVUES P W N
.,,

(
May/2
«- /^SeSQU/-CE(yT£NN/A(.-^
the'Nor9i flies over N.Pole
( Phila)
5

1st Aluminum.
streetcar
(Cleveland, 0)

Jan.

Feb. Mar.

Apr.

May

June

"Lame. Duck'"

1927

billpcLSseozvetoio

/

Auq.

Sept.

Oct

Nov.

Dec.

Aug. 2.
"I do not choose to run"

Another McNaryHauqen
McfADOEfM branch

July

Dec.

- Coolidoz

BkyAct

202,

- U.STReflSy. SURPLUS hits all-time high
7
fit>3S,8/80OO
-U.S. retires over$/,ooo,ooo,ooo of its deb1—*

Nov. /6
-> now ho Id $700,000,00
(new postrivar high)
(see duly J929—*)

Mayi5 y/

F.R. Banks s t a r t
buy/nq.L/.S.Govt.S<2c.
(holds 2+1,000,ooo)

/ 52.7 3
Jan. 2S

July
ly 28

R\ 5T,
Kans.Cy. Chqo.FP.5k
NORMAN, F.R.Bkstarts forceS'tocut
SCHACHT ratecicfe

U.S. gold stock
\ 5^4, 000,000
(new Ttign)

in U.S.
Gold outflow becpns ~*to Ju/y
Start t o
""" Eitrop. BkS- cuttmg rates too "
.sits
Rep. Memb. Bks..7
this mo;
Invstmts up /+'A%
BROKERS' LOACiS
Loans on Sec. up/(a 6/o
$3,soo, 000^000 %
All other loans off
'A%
^ x \ l l y r hiqh ,

_ CA7ff ISSUES sold in US~

7, 000,000 (oil-time high)

(huge foreign balances created)

. activity bcqins to tape r off —

AUTO PROD, lowest smca 192.2 !!
(Ford c hanymg models -from * T'toA')
May2h S
—*Biq} Three"oettino
G9%of the business
1

15,000,000th Mode) T
Apr. 18

Feb.7

AR 0£8T COM.
dissolved

(see 1933)

pys fOA
Mpy20J
stoctdiu. UNOeERG—*and mony other non-stop
flights
r
H
flioht
Apr.
hese
a depression begins in
INDIA 90C5 dap.BtyMoratorium
AUSTRALIA
on qold
Auxr. 15
Apr.7
JUDGE

Jc

1st biy C
hook-up

Dec.2i
on

Nov. 12.

Jtiisvr

TELEUISIOW

10,000,006 radios znU.S. **™nstration
132
BdccLStmo Sta. rn US. "Misy Val FlooSs 
http://fraser.stlouisfed.org/
Vhoto-Ekc. Cellnovu zzsed commer.
Federal Reserve Bank of St. Louis

/Aug. 2j

Sacco a Uanzetti
ezecutedfsee /92o)

HOLLAND TUNNEL

opened

Jan

Feb.

Mar

Apr.

May

June

July

1928

Aud.

Sept.

Nov. >2 Dec.

Oct.

/3l- 3 0 0 0 0 /

up 3"^

Dec.2l

-+he 5th McNary-Haugen bill vetoed—i
May 2.5"
MUSCC£ SHOALS ACT

^ 7flQ

BOULDER 0
ACT
D. Omtstdg.

(for Govt. operation)
REDISCOUNTS rise $805,000,000!

* hit $i,i?i,ooo,ooo

% feee Apr

*t, 82*, 000,000 '
(new post-war hi

193/-*)

% < — NYF.R.Bk.rates
uppe.6 — » t o ^ # % — > t o \ 5 7 *
(both high since. I9z!)
^
concurrently

COLD EXPORTS-$435,000,000

Gold Flowinqf

June 19
Reps. nom.HOOVER it
on Jstfat/Cansas City "a chicken in every pot"

This yr.:
"Bank failures at 6 yr. low—

June 28
Dems nom. SMITH
This mo.: on/st(atHouston)

00

us

"the, Brown Derby"

uuntil

\r\Qop\n~j

1,19*9

Nov. 6

)OVEi
2/ 15

cruises (
around S.Amt

8R0K. C(VS.9ooLfe_s
^ 0 0 0 , 0 0 0 , 0 0 0 / 5ept

^ ^00oo0O
(all-time high)
(See Oct. 1933)

hh
Jan.7

-Corporations znterinq Co/I Money Mkt. —
okers'Loans
too
May / *
Oct. 3
Apr. 3
C M Seel-$2 extra
on
May 29
Ay res
Chrysler Dodge
j
CCtVbfe 27y/: May
'V"6ed$/dlV. high

Nov. 28
Nov. 20

t

Nqy-8/o

^ t / 9 / 3 ;

— Auto Prod makes new hicjh thi s year —
Mode/-/r9ett!n9,ntopro6^
{4.GO 1,000)
~~this industryru>wbi99cst
a5tto(Toa?t
(Dodge Bnos)

" O n l y 19 mi of R R.into receivership this year • ~
(all-time law)

*— Record Arnt. of foreiqn Loons this 'h. ye or
'
Internatl. Gold Std. now virtually
reestablished (after 1+ yrs)
Apr 23
June
t. war-loan Franc stab at 3.934 '
Sept \z
ll
Fzb 20
'*es
NV-Cer.
telephone ^tedonNYST
(Fr9otson 9ol6)-^ Bkof Enq 9old-£/7c,soo,ooo
VrGer telepho
service estabco
igh to date)
d
(record
high
I *. ?
(see Jan. 1933)




consumer

All-talking
Colored motion
pictures

D

^l 9
]st Auto
flown in U.

Jan.
P<2b
"Lame Duck"

Mar.

Apr.

May

June
July
IQ P O

Auq. f 5ept. Oct.
Septi*.-38U0 -up 7"

Nov.

Dec.

Feb 9

0AM

Shipping B6 sells
last ships

Hoouzr Conf. D?Q ^
Income, ta
reduced
Dec.i+I

F.R.BKS./zo^orc/y
$141,000,000 Govt'Sec.
(Bk rate, now only avail,
ze ap on)

excess

N. y. rate uppe.6 See
to 6 % /

only p33,000,000

Oct. i

(szeApr./93Z-+)
T\U\L MONCV 9'k%
(highest May since/893)

Jan. 23

NySfsea-t

i J )

"^8,5^9,000,000
0

alltirnehigh

This mo.:

— "A NEW ERA' —

tier.

c a t to 5 To v
% Nov. i*%%%

fall- tim

/, 6/5, 000,000 new

securities issued!

Mor M>
Mkt
Big Shahe-ouct ininMkt
(8,00o,ooosh)
resumeS &
t/?er/j

4
Dec.i

yr.:
Auto Prod, hits 5,622,000
77I^

COMMOD fry

(all-time h/oh)
now 2l8autosper /vj /-feyD.
C<—See I920&/933 —

7 f "I

Oct. 23 (P. M)

May 3i
WHEAT hits Wyrlow

5tk
12,900,006 sh.
Oct. 28

\

' Kol rmnlate
Oct.29

-RECORO WH6AT CROP IN
20

qaij

for me, 6

77?75 7720.

HATRV

(re RR rates)
Medit.fruttffy
disc in FIQ.

•> Fh. banks in
trouble.

""""Labor Trouble in the new Industrial South —

Nov. 13

BOTTOM (for/929)^

1

now
(3yrfow)

Jon.1-7

/ro

,,4 00,000 sh.(a//-ti/7?e rec)

rate

Fox
int

—numerous endurance flights -»
(see July +, I93O+)
—Raw materio/ countries now losing
— Ciqarette Sqles Ris'»nc[~~
(lowprices)
{Women srnokino) j n e . Z 7

nouj tax,n9 Chains"

^tJ.nstf™

i/,800,000 <?as meters ?n US.
ozmonszr.

5t3 million $ incomes in U.S. (3 9 over &f,ooo, ooo)(see/932)
http://fraser.stlouisfed.org/
Federal
Bank of St. Louis
LifeReserve
Insurance
in forco, $103,146, ooo ooo

^ ± ?
CRftp
zeppEU
around world

^

'*

Argentines
Dec/7

Jon.

Feb.

Mar

t

2 97. Uo (up 3")
Apr.it>

June

May

July

1930

A u a.

Sept.

Oct.

HAVV/LEy-SMOOT TARIf f before Cory.-*

Dec.

Nov.

Nov. 4

June30
PUB. DEBT- */G,000t OOO.OOO (perCap.*/3L38)
(post-warlow) & 1st Treasy"sincz /92o begins

REPS. LOSE fiR-

1

Jreasij.
nauo.

PostSau on]y?W8t000,000 but ri
. 6K.TIMED6P.
(a//-time
.V. BK.rat^ 2'A% ^ e Z ) e S
F.R.NOTES inCirc.

Dec. 23

high)

N.V.6K. rate
2°/c

(unprecedented
(See May)
(iZyrlow)
**%%%—-$319,000,000 yold Certs.issued —
**o% %
(This yr)
Oct.9
****,^
Prince-l/Jhitely failure
*/, 311,000,000

\ZQ3I

I.QKS.LNS.IINV.
+,000,000

me high)

This mo;
Auto Prod.ricaD

; loon* c\

"World wheat crop near recor

Corn belt drouth
suspends

-FARM BOrtRD t6se5ftro^ooo,000 to
^>

(seeAfor)

. Bank failures in _
Mid.-West ^ So.
Sept 29
Nov. IO

WHEAT SS/f*
(lowsincz/9/i-) July 28

***
A

Jon. 31

^ %

(1st time in 35 yrs.)

5

i drops

SiLVERatvew ?*^>

low in Moo. Hist / S ^ o ^
^ __

• P U B . W K S . encoura.^e6-t:o a,?d industry —
(Construction Takts /9°A of all steel Fho6)

^

(lowsince 1907)-* low since 1901
OCT. 17
5tocA: AI/ft. drops
This mo. :
•J
U.S. STEEL
sAo^5 smallest
mo.earn, si nee

POP.: I 23.000,000

(2ot 2oi, ooo telephones)(;nDec.-*)
Mar. 8
TAFT
Theatres _
trouble
^any others soon-*)

(30 yr. low)
June /Z
Cer. 5/25 flooteb at 90
(yOUNG PL*\N)

*nou) quoted at SO
/

a Depression appears in United Kinqdom
Jan.n
077 go^o

cs

Forciqrn Central Bk5. cutting rates '

~ * starts losing it at once
Feb.20

Bk op Enq ratio fe/
(high since /8S>i)




>/

gams (election)

-fOREIGN BONDS
"Revolutions in S. America —
Hunter Bros, land
(were aloft 533 Mrs)

19 IS
btc.l<
»

Seaboard
Airline
fails

Jan

Peb

Mar.

Apr.

May

June

July

1931

lame

AUQ\

Oct

Sept

Nov.

Dec

318-19
i, ooo,ooo,ooo^

Feb. 2t

June 30

-TREASy DEFICIT this Fisc. year
*900, 000,000

(llyr.high)

jUn«.8
aS .GOLD

STOCK
tf, 197,000,000

Oct. &&isth
•
•

.V. 8K.RflT£/'
down to

levels

2*%

(N. yfi/c.rate)

Oct.

(all-time low)

Brokers' /o an snow

hzs,oooLoooaolo

ThisTnaFR. Rediscounts:
or,ly$/SS,ooo,ooo

nnooo

ir>-loVl0i

-Sept. 11
j*oW an<3 90 be/owpar Jan.

-HOARDING begins

Gold Certs, beqin to disoppeqr —

Junef
%

Ff\RN\ BD. abandons

stabilization

f

..

ThicL:

/-.... ^

^^t-low

(see Nov.-*) - 2 2 9 4 BANK FfllLORCS {^lli

/o?

FARM BD. W

, o^-nr

,,320,000 dales cotton
33o,ooo,ooo buwheat

of 1921 Depr.

—..

high)(*-Deposits *i,7oo,000,000)

***•«

up
to 1927 levels
P

Oct. 7

tecz

W
(Bavkpool)
SS
(awes ineffective)

"CN"

(35yr?ow)

5ept23
Cuts wages
BankmoMasters

/kip/k

((WORLD CRISIS

2I

7/7 Oer.

begins)

July31

>

May 14

aQooffgold(5ept.zi)

*^

Oct. 28 y
o - A !•

V7/.79

-* ro. cuts cw.
(to/377/eue?)

|) e c 17

, ^

FRtt T(

o)f COLD *

Dec/4-

Octjz-7

US.

''BK.of Eng.cuts

\'&?

ra£cto2

Z

Teletype service estob.(A/ou.B/-3)
•May! EMPIRE STATE
Texas Chao A/at oas pipe/me opened (Octts) bldg. 6ed>cate6
cWy 75 £i/fion*incb7hes w uffsee 1929) '
*

Cope imports /3 9?*per capita (all-time hioh)
http://fraser.stlouisfed.org/
L/S.woolProd.hits
•?3ff,ooo,ooo*{" " " )
Federal
Reserve Bank of St. Louis

~ A^ti-Reparation feetmo growing m for.
goes off go/d

EQISOfV

Feb.

Jan

Jan. 22

RFC Act

AAar.

/\pr

Ma

June

A U

ciuiy

1932

Feb.27

J u l y

JDCDT.

oct.

NO V

2 2

GL*SS

fa haste)
(see below)

rescues F.R.BKs
(see gola exports)

June 15

Reps.rzriorn HOOf£R
at Choc

~AII inflationary legislation fails. DEFICIT tft/s /vsc. year
r A n n /-i/->rt

Feb.z
RfCestoi

c

"

Nov. 8
KUUbtVtLI

Demsnom.ROOSEVlLT
at Choo

21-IS
(see/928
ratio)

. „
N
1
f-fi.6KS.buv $(.110,000,000 Govt. 5ec.

"

excess ReseR^^aavMfMft fik fif <

1

T/%99,000.0
T/%99,000.000
/iee Apr.1931-*) OOoyrlow)
l )
"Babyy Bond"ant,-hoard/nq
f l
campaign unsuccessful

r

c

%* U-S. loses
*?71,000,000 oo/6
*?7100000
/6

-- f

#

Oc,/3

0

y,e/do.o9%

Calibans/*

faar'9/9h(9h)

RD.
f.R.CR.OUTSTDG.
(*2,+2 2,00 0,000 (new postwar high)
^ US.GOLD
OL STOCK
VsJWI.OOO.ooo (lowest in9yrs)
US. cjoins $(,4-7,000,000 gold
Now. 1-13

R-F.CJoiznsnow revea/e6

This yr. •

_ Gross fARM INCOME down

«.

-

Nov.3

Dec wheat tzi .
(alltimetow)
9 20 low
^mJ:o;formed

Mar. 8
Jon.27

"X"cutsd?u

......^3).822

FAILURES this yr. ~
y

(all-time high)

}•

hnflt

—AUTO PROb.beJow 1916levels —
X passaso)v.
-Technocracy"

RAD6

LAUSANNE CONF.
Apr. 18

oes off gold

_ _
Man

1 M M I GRfiT I ON

ends Reparations

June 30

adherents—
Oec.7

(only 23,000!)

ceases

(Fisc.yr)

OTTAWA Aqmts

20 million 4incomes in U.5. (/929)
(to c^c> ofchorty.
Only Pub. Util, Foobs, Tobacco, A Chem. fndust.show profits
<ol>4Z
in /6yrs. (net)
mi. R.R. have been abandonzS
http://fraser.stlouisfed.org/
1st
unemployment
/ns.
law
(W/scJcLh.
29)
Federal Reserve Bank of St. Louis

Nov.
(new low,in <)old)

n Gr. B

1

Jan
"FcTb.
Mar. A p r .
May June
<Juiy
the. last "lame DLCCA" "RubberStamp"Congress
I7 3 3

Auq

Sept.

Dec.

NOV.

Oct

Feb.b

Dec.5"

IXth Arndrnt

fES/SS
(end of Prohi

topower

BANKING
Ooli/rnpts-

• AAA

70% ore

Nov.
5

opened again

and vow hoi6 -^ to en6

June./6

$2,^-30,000,0 00

(all-timo. high)

U.S.TReASy. DEFICIT.
down to &l.18e>,ooo,ooo
O7?/yl783 eK.FAICUReS but

(all-time high^)
Foreclosures suspended
in Iowa, etc.

Octn
$1,900,000,000 4+h
%%%
*. 474S calledf/t)r^5-3f)
Oct.ZS

/June/6 JuJyQ
/ti(if\.
Textile
Textile

This Yr.
depos)tS:$2,2(>5,000,000

/
f

created

Code(lst)Viqorous
Viqoroul

Code sic^nq - \

R6FUNDI
underw*

^1?^°°°

no. S3

CORN-HOG
Scot 8 benefits announced
COTTON now/Ot
This yr
"Silver Prod, hits G\ yr. low

PVUA launched

Feb.*
Cotton 5 3M

of chit.

July/8

-over 12,000,000 unemployed*

hit

F.R.Cr.Outstc

FjySANKS
$600,000,000 U.S.Govt.
F.a.6Af>)K5 purchase
p

May/8

This Nsc. Yr

(CZ 1931)

Oct. 25

itei

N

*l28,000,000

•Processinq taxes effective

Dec. 2.1
see

PURa
announce

*

Nov. 9

CVJA created _ lasts

Prod.1.990,000 this y r . -

(now 190 per M in U. S)
-1929) (Big Three"get 90 'h %)

Jan. 5~

COOCIDGe

(to

«)

y r

Feb. 27
tt1J

j£/7933<i>,481

(fony-time Jou>)
Jan.30

HITLER
tr




new record hig ft

y
San Francisco Bay
Bd
begun

CENTURY OF PROGRESS mCh9o

Nov.

t

(near record h?g)i)

Jan.

Feb.

Mar

Apr.

May

June

Apr.30
($2,800,000,000 "profit") ^ #
Z,000,000,ooo
(to U.S.Treasy.)

i

Apr ii

Feb./

NYd'kratt
ccct to /'/*%

This mo:.

Bh.deposit turnover
hits new Oepr low
(63% of 1919-25)

Mt^oBoo%So

f*-^€c /1/?r 1932)

-»

ay (^see July /870)
...

7 /t9/7?t.)

s until Apr. I

MPORTS this
-COLD IMPORTS
th.s.year
, 187; 000,000 !!

Th/s.mo.:

(a/It/me nigh for I mo)

Apr IS

)ING PROGRAM

U

Pub. debt- pierces 19/9 hicjh

E

GLQCLin

Hi 93

Dec

Nov.

*So.oi*p
(see Apr. 1335-*)

to JulyJ_ T R £ A 5 y DEFiaT/7/^ ^989,500,000
(a/1 peace-time high)
June /5

Feb.y

Oct.

SILVER PURCH.ACT Auq.9

Stabfuvd estab.

(F.R.Bks/osea/fgoJd)

)O0

Sept.

June/5

COLO REVALUATION ACT

tdg.

Aucf.

193+

Jqr) 31

<

July

^200.000,000 uunconv.
& 1,100,000,000 moreccJ/ed
Apr

Mel/on 3's return
to paraoain

D c t /54

^ *2JO,oo o,ooo wnconv.
Th's xir.
*/f 9 ^ ° / 0 0 0 / 0 0 0 ^zore called
suspensions a t l^-yr low —
%

^%

-N/.yS.E.volume at l o y r

%

+%%
%x

(*\see Sept 1931)
^%^
^pr 3
r/7/5 summer.
"***
N.y S i scat
Worst DROOTttin USHtf.
*(>s,ooo
ccucsed smai/est yields in
RAIN
(!L yr. low)
CORN since 1891 • -?o yrs. (too ?ate)
iUHEflT - 1893 - f / "

' activityar 12 yr. hiqh

_1

'

Apr. 21 / RVE " 1871 ^-Co "
COTTON'CROP CONTROL
g^»
"Smallest cotton acreage s/nce I9O5JulyS

-Slum Elimination vqunted -

Fed Relief takes
ewe/-

Oct.25-Z8

L//I.A2C.DI6SEL tram
LAnp-N.Y

May 28

"Louisiana under dictatorship —

Diorme QUINTUPLETS
&O777

90

70,122,000 rnks.

(record low)

Col/eoes,etc. invest/ho part of endowment in Corn, stocks
Tl states levy higher taxes
Cent, of Proo- repeats(*/2<o to loh>)




Dec. 13

Bk. of Fr.
ratio 80:83%
(oJJ-time high

Jan.
Feb
Mar
Apr
A/lay
June
July
ythis session approp.$lo,oootoootooo (peace-time high) | / 3 5
Apr 5
WORK RELIEf ACT

Aqq.

Sept

Oct.

Nov.

Dec.

and here:

"BREATHING-SPELL" —
So c. 5ecur/ tyAct
"Soak-therich'taxAct

Jht

' 1,800,000,000

Rail
ct
8ONUS BILL
(inflationary)
Personal veto sustained
by Sen. June is
WAGNER LABOR DISPUTES
Ftsc. Vr. ACT
, 979,000 COCO imported this7 yr !~
U.S.TREASY DeflClTS3,S7S,ooo,ooo
(a.??-time high)
^
Dec4(near /93* ^79/7)

US.TREflSy borrowing

Mar. 3/

$1,150,000,000 Gout,
debt matures in 1 yr->

t 2.71 °/« average
(all-time low)

U S. gold stock goes
over * 10,000,000,000

t
EXCESS RESERVES

(a/1'time high)

now over £3,000,000,000!!

Apr.

Nov. 20

,000,000 iviconv.

f
,200,000,000 more caJ/edfor

'"Oct. /5"

June /5"
Ju

^

Oct. 8

oom

t h r u

"Dust Storms in
Mar 18

hitSyr hxjh (Annalist)

-U/orld wheat crop hits 13 yr. lowThis Year
Wheat ^.zz (MY)
— AUTO PROD, h/ts <?,/50,000^6 yr.peojt)_^
Dec.I
(Jan.)*
Two Auto Shows —*(Nou)
^ ^ W P A inau-q

industry show^ signs oF life aqain -

-Transcont.tro.ns a d o p t a . r - c o n d . W . n ^

,

"^'^oLSce/V/o"'5 ^

(toe7}d

6ol

*>

"

"Many reorganizations under Sec.77-b (newbanhruptcy a c t - )
Ch/na Clipper

'Frisco • Manila - / r / sco

a Following

Nov. 3

(Fr. Couqhlin)

—i/S. "pegs" London Silver price,
( dom. price 17 'M i- -new prod)

./o

CHINA ooesoffSifo.
(see US.Srtu.policy)

Oct. 3
Trade Treaties negotiated"
ETHIOPIAN conquest
Gold in London
(Canad/ar? s,9ne6 Nov. is -)
begins
^
Bkof
f
hittino Qll time high
(goesover 1+9s)^
MQr.29
This Yr.
ooes over
Be la., devalues 28 °A
~BK.oF Fr. loses 16,000,000,000 Fr. qold£iootoootooo
tnr\r"
^A
(parity-&8 2*
1JW1
L
d)Stress

Refr,
:^.5
'"
~~
aJhtsme high
9.,Radio.iRayon makenewprod.rec.
http://fraser.stlouisfed.org/
Office
at a premium in Wash. DC the "5.S. Normondie "in /V. V.
Federal
Reserve-space
Bank of St. Louis

f Jem.

•

FeF

Mar.

Apr

Aug.

' May

' Sept. ' O c t . ' Nov. ' Dec.
^-This Congress voted to spend
£19,300,000,000!

Feb.18

••GOLD

CLAUSES

are virtually void '

EXCESS R E S E R V E S , ^

'CREDIT CONTROL'

PUBLIC DEBT hi

Banking A c t : Csae.Au.3-?)

'y, DEFICIT, ^3,575,000,000

^-TREASY DEFI

J[

Unprecedented

Dec.4-

GOLD IMPORTS

(41,7+1,000,000

U.S. Gold St.oo.ks hie
,000,000.00 0

this yr.)

~ - - War Loan Conversion nears completion

._.)NTEREST

' - - - Only 33

Nov. 20

m

/*9 4£

^

JC

N.YS.E, SZGJL sold
& $65,000
Foreiqn

OCt.8
Commodity Prices
hit 5 yr'hiyh

--Wort*

Dec./93C

WHEAT CR0P ct/3yr/ow--

00

K>

AUTO

Is-t. fcjI Aujto
yeoj-5

Mar 18
Ford u-ps minimum
wa
-to ^6 *2-

Ag/f.

May 27

o
Tnxnscon~C -trains ac/oot

?S

PU8.UTIL.H1D'Q.CO.ACT
GUFFEy COAL ACT

cur-conditioninq

June 15"

GO

WORK RELIEF Act

Tow/Tseng'«£ CouLjhift'n Q±trojctiny ma.ch a.ttentr/op
J
(old aoe pensions e t c j

of
population
> r<zii<zr

.3
SILVER IMPORTS "^336 000,000 ' - - A ^ _ _ _ . -CHINA goes
This

/oses J^.ooo 000.000




Wo-gner tajbor/lcfc

aJl-time. hiqh
frcuiQS in qoJd ~

June 3
S S. Mormon die.

(SQQ. dune

I

^

5

WILL ROGERS

Q

-ETHIOPIftN

HUEV P LONG
'Frisco-Maml*.-

Fnsco

Jan.

^

Feb.

'

Mar,

'

Apr.

'

Aug.

1936

May

' -Sept. " Oct. ' Nov.

Dec

J Robinson - Patmasi Act
X Wa.kh- Hea/y Act
June
7>7e

(on /St. at
3,000,000,000

June 2.6
renom.
(on /st at Ph,la,.j

I
hts $30 bit/ion
*ICIT A/tj /7cwvpeace-time hiqh - -$4, 3 6 0 , 0 0 0 , 0 0 0
*
(no-t.)
K
\

NEW DEAL

Nov.J

Lo2)ori e t c . v j .
"£cononr)ic> RoyaJists, e t c .

2®'/7

Govt.bonds

Nov. 18

—
June 15

BONUS fVn-t,.—
(g 1,000,000,000 in 3 wk6)

U S. GOLD STOCKS oo

AUOf.lS

(SZ°/c of wor/d's stocA)

RESERVE R'Q'MTS.
JfcC

R E F U N D I N G cJL vary lor.

~~~

Commodity Prices
at 6 72 yr. his;h -

PP
f5ee

>+<

(Copper tZton

SOIL CONSERVATION,

jan.G^^^^^

Act

^**

June 23
J U K I L U J

Nov. '

This yr.'.

| ^

100

Mar. 3

Nov. 6

STEEL WAGES a

- A U T O PRODUCTION M * new recover >7/^ Cc^ //•/.)

ooas over p<w

Ort.Wyrr.)

("K"pays

$IZ per sh. ±h/s yr)

/OO

"CM"orders 100 locos.
(7 yr -high)

June2
Ftxss. f<xres ctut - -

CLcurJoaudinQS <jLnoxpe.ct.edly good — Q, yr.

Feb. 17
80

/3i)

I #iA A c t - - "extrcus' increcLSina • -and ~ -~ • oJI div/denoj records
(rnasiy p'f'd.-oj~reo-rs
cere

Ope.rcctions ctveraoc G8 c/o of cupcuuty - -

• » U "

>z

This half-

WILSON DAM
GnconcJcLs/ve)

May
May 18
18
zy Coo./ A c t cLnconst"

'Social Security"
y
<jroe~s into O/oerat/0/7
- "CRUDE O I L ocutpuLt <xt record

Strikes ayo/oeoj

8 0

- - E L E C . P O W E K ouutpmt ox oJI-Ume hsyh /eve/

& CLre fvectored

interrnittentl^

lo.ve/s - -

Soot
McLT/t/me S

C/O

3,000.000 on WPA
tpeaA)

(West Coast)
cct

Sept

— - - ConstMjcct/or? aains s/ovv/y (in $ volume.) - - - Bk of Enq. oo/</
Jan. 20

.

KING GEO.^T

EST



May<5
Abccbo. fcjjs
June I
n N.y.

| 0

EDw.'uzm

faisbank
qold
drops tro ?2s;o4b,ooo !
July

• SPANISH REVOLUTION
e

World pecucc
of Madrid b

"Jao

'

Feb. ' M a r . ' Apr.

' May

"1 Aug

i Q'-r ^

'

Sept. ' Oct. '

Nov. "^ Dec.

6-20
«
RobmSon -PatrnuS) A c t
Act

Nov. 3

issue-THE NEW DEAL

poo.000,000

Ro.ps nom Landon
wins

ts ?3C 0JMO/I

Nov. 18

C I T hits r,ew peace-time /iioA: f 4, 3 6 0 , 0 0 0 , 0 0 0

Hi'qh Grac/e Bonds at: record /eve/5

BONUS P7WTS.
(i/ d>lhon m J **ks)

TU

^

"SURPLUS TAX" Act

This Quar
- - Profits fixr^Aove yr ajo -

l

sits

^ exceeT^OOO.OOO.OOO a g a i n - -

— Huje volume oF Refundiny-af very low interest rates---

-5bp.Ct.-4-3

3/3

19X9

_

Soil Conserv. Act
——— x

'q'm'ts now 3"0°/>

This y c ;

— A u t o Production
a t 7 yr. hiyh
on at

proc/at a//t/

,<o\l,00Q--U. S. & Cio.)

ni goes over par
(1st in 7 yrs)

Steel Operations average G8°/<>

Steel Wares boosted
(& ma.ny o%hzrs

Pass Fonts ccct---but

- C a r l o a d ings a r e up

J

- - / s t R.R. profits m s yrs. - -

"Sit-Down" strikes a p p e a r - - - * o F Strikes a t 1 5 - v r . peak?/ .
J

5/19

U\7

Wilson

^ ^

-•OU./J. C f

Elec. Power output at new record hi
Crude Oil output breaking" records.too Cotton Goods prod, at 9 y r peak - — and expansion continues
----FAILURES a t It-year low
CONSTRUCTION gains slowly (in f vol.)
"Social Security" inquj.
ie

sSSiSX

'/to

| KING GEO.V
!v) I -t/ireatcns peace




9/ % 5

CIO suspended--a rjft ir\ Labor ensues

"Gu.//"ey Coa/ ^ c t uuiconst'•'_

7//9
u.nt/i

-AddtS

f<K.i/s

5.5. Qu_€€r? Alar
cur. m A/
yK

France (&otheM)devalue»see

. ^

Ed w. YHI abdicates

SPAN. REVOLUTION breaks o u t - - - a wider conFlict feared---

JqnT

Feb.

Mar.

iQ
17

May

Xpr,

Special Session
Called^
^

7*22

Shall the Supreme Court be packed ?
4/ji

Oct.

Aug

s/je

8;/8

Jos.T Robinson

Mar

Hu.cjo.Gold Importi continue.

IO

s-y. Deficit •

194

a//

C-'S

Go/d />/tf ?/2.5 billion

$1J00,000,000

hits*

/i

zff

BtWon

Bank

aye /7OK/ /OO°/° cdbove y r a.90

Easy money m*jntajn*d

J.

37

<*-'</:

---Soc. Sec. Funds aid Treas'y.

>eaA

/ ' Reserve RVm'ts upped

••-•&.

~-N*~ C*p.toJ MM V*ry <iu//-Oc

COMMODlTy
Copper(?l7)!
hits par
Rjbbtr*27*
Cotton over IS*
Corn(5> IZ-ISyr.pcak
- - U . S h a s l a r j t IMPORT BALANCE

V26

Ustmbyrsf)

($101,000,000'- lonq-ttmz hiqh)

COTTON CROP hits^new record hiyh
Auto Prices lifted

& "GISA" raise w a j e s

113 64-

Steel Wages'raised q^ain '.
& Pn'ce.s , t o o
I^L

Scrap Clt 14- yr hlg"h '.

W/a^es reused

C/O Joses ir. O
r

Steel Strikes

"rCStrike

"GM"strike one/

3/L

" Wa S ner Labor Act

M

" X -Cl'o contract
signed l!




Unemployment "Census

fa p,Qnfs)

others

-Commercial railures now ahead or yr.

COTTON CONSUMPTION at all-time hi$h
Rayon Prod, at all-time hi
(2nd.

YrendH

-Curtailment in Textiles increasinj

Quor)

Thz'/Jtno/znbura"

JAPAN invades CHINA again
aoe-s off Go/q/
f^-see 9/26)
7Jf»/s Spnn<jf

Recurring crises in Span, situation

Shdnthai foils--ray
Incident

Feb.

Jan.

'

Mar.

!

Apr

{

1936

May

Congress in Sess ion

Sept>

Nov.

Oct<

Issue-'th* NEW DEAL

11-3
Roos*.ve./t »v/

resiom.

28T7

;

,OO0, OOO, 0 0 0 +

Dec.

on 91 -f

"the hst e/ect/0/7 7'

U/a/s/? - H*<xly Act"
effective
Robinson- r'atmin Act

- J&obson 8, others

6;/5

BONUS P'MTS.
Fiscal yr.
hioh >^ ^+, 3 60, 000, 0 0 0

ts

Nov.l8

H/qh Grac/o. Bands
at record levels

"UNDISTRIBUTED PKOFITS"tqx qct
> CO/JO77 |
discontinued
Quoddy project]

yr'S /Ovv

\
3

rSoi|

".

tndastnqls

(hiqh, Sf.t /

4--3O

Imports exceed * 1,000,000,000 again I

J

A unconst'
^ 6 ,3

1-8

— Sterilization a«

Conserv.Act

3-3
C" goes over par -"GM"^ 70
>7y^
-x-#>7o

"C dec/ores ?
This yr.

AutO Prod. ® 7 yr. h i e h (4.600.000- U.S.& Can)

new

to'

This yr

Steel Operations average <o8 %
Copper uppe.d to 9'/z

•

7/7/s

/ VJo.<}ZS boosted
(if many others)

^

CarloadinrS up \±'hol°

Pass. Fares cut

1st. R.R.profits in Syrs.

(involvntqry)

•Sit-Down Strikes appear -- ^ o f strikes & 15 yr. peqk !
(Akron, Qtc)

n

Wilson Dam decision

Power Output attains new record levels!
• W f e y Coal8Act unconst"
'

„ s ""SOCIAL SECURITY"put into motion

-Sup. Ct.

^l*

CIO suspended--a riPt in Lobor ensues--3tOOO,ooo onWPA
(recovery peak)

•

//*lt
„. , r r.. #

Auto Trailer Industry at peak
7

K

LIFE

O- S. - Jzrcjnce
treaty

3;7

9*Z6
Blum made Premier -

H/tler occupies Rh/nelan<i

appear

f r / e s *$ociqliSm'- "

devalues
IWO

3-5
devq/ues

•threatens peace




unfj/

Addis Aba.b<x.

SPAN. REVOLUTION breaks o u t — a wider conflict feared
ii-ifi

SOME SIGNIFICANT EVENTS. ETC. - 1936-1937 - 19 3
Fe£

Jan.
2i

£
Pre.s., yes"
M

Apr

Mqr

Copyright 1939. L. Merle Hottetler
Au^
Moy
IQ
77

l

-Shall the SUPREME COURT be packedI
4;)Z
5;I9
"Wagner /4ct OX
X "
- 5 ^ > Cr
Cr

3;»

5-1

!

Sept.

Oct.

Uov.

' Dec.

Spz.ci(xl Session
»f*rUhor

Congress'W g.|8

^CVJ Devcuiter
nsiyns

-fl/ac/< confirmed

tajccs seat.

— Excess Reserves @ 3 Va yr. l o w !
g*
6_l5
ajx>ve yr a^o

f

'

•

C>u+->?e
ms

RFC to stop lending-

^ ^

Deficit: ^2,700,000,000

Huge Gold Imports being" sterilized

Gold stocks hit ?iz.s&,won--Qnd icvd off
Cut to /% '.
--Some Gold destenliz.€.c/ — -

/0/9
7,300.0*00 Sh.

;2+
adopted

Copper & 171

**''
"9r,

/o*

ty

U T

(5,000,000 -US.* Can)
--Auto Prices raised(and Qrz<iit~terms cut)
V-

c ,

wO9es_

yo wn

y/ve o/>

vVidespredd Wqge I n c r e a s e s

"X"boosts wajes ^
?**'

over
-X"-C/O Contro.it

1/4. t o X//|
Strike

^ C " strike *
mnumvohle

CtO loses in Detroit, etc.
IMfc

Stee/ S-frikVs'

(>n

others-'

9 ; IO

^t.-UOphnts)

Unemployment Census
11;30

Wheekr Dom dedicated

Coa./ price

Cotton Consumption at dll-time hig"h

Frosted Foods




Form Jmplzmznts <jro»/in<j in

£onnev///e

start

^GCC)

favor

t>.29
jots of? Gold- Frvn^<P>/0 yr. lQvv

Chin* aS«,n
Crises in Spanish Situation

•

"S.S. Deutschland bombed'.

6> 3.ZSf-~de<UJno, Cont)nu€%

SHANGHAI

Jan.

'

Feb.

' Mdr. ~" Apr.

'

May

n

l O t Q

'

Sept.

'

Oct\

'

Nov.

r

Dec.
12; J 5"

Housinsr Act
I-.5-

Reorir. killed by H.R.

I-.Z5 0

Undist-Prof.tax "repeated"

§.-28
"Hole/. Co'J. rnyst reqistxr' -SupCT. •

.

Debt hits *3?Billion

7;8
/ » * o T\r\ —r /\"
\~r\}\\J\J Z-U

\ 12-23
HophJns

->
Successor ?--see. /-s~8-fa
;
W//7J_. . .

Court now liberal-- "resume, /endmti"
-F.D.R.

/?Of>er resig

M;9

The11 PURGE "meets slight success
TNEC(monoply)
plan adopted

-1st hearinr
7-zs"

C'

///on - - bu-f Noac/continues ' -

/c>A : P/, - f f - ^ 00Q0OO
2;I4SteriHz'-t'n

Stpts. Oct.
Go\cj Imports *H, 000,000.0

,400,000,000 dcsrcn//2.e^'--SPEN0-L£ND

Reserve

4-15
R'P"^^-

•

cut

Excess Res. & Z yr. hig-h-

/IOO.OOO/OOO

Richard VJViitn
2; 8
5 us pen 3 ion
Short-Selling restricted

'S/,

at new all-time hijfri ^

m

X'3)

Mov.fZ

TTii s >r.:

Auto Prod, at 5" year
(only Z,G(oO,000 • U.SS Can)

-Auto Indnotu on 2-day

— Auto prices Toajcrec/ cuya/o - 12.-15

Copper &9f

Pr/ce COar

fc;24
St««l Prices cut &
Basin? Pt. system modified
6;2S
Pig-Iron cut/4- ^^

Hides ^ 8 ^ but Firm up

Mar.3l
98,95

Irvin Wks'openecf

^ 7;14Wheat

-15%

-

-

'Commodity Prices still near 4 - 5 yr. /OUJ

Gov't. Crop Loans announced^
^
8-27 *
^ IJ;IO
> Cotton
>Corn

100RLD WHEAT& COTTON CK0P5 hit all-timehijhs!
Nov.&Dec.

U.S.Export Balance at 17-yr. high! : ^I,i7o,ooo,ooo

output

&ne<o oil-time hi<jh

10-

es raised
controversy

Grain loading 10% above 1937^

nporc ement difricui t
- revoked!

9

This yr

--Residential Construct 8-yr. hig+i - -

9;2I

11-17

1

- - Life Insurance Sales * Kb-yr. loiui - 5; oif prop.
'f-IQ

11-12.

-POPULAK FRONT OH Its COOy OUt

2-J<o

Froun^dzva/^ o.^,nlCftnaJ')

9:15

r:e

iq-2|
Jape

e€

in

Q.22.

i$ seixeAUSTRIA---^ P 5* world in suspense
22

V
i - /5"
Prqnco+akesTcruel--- reacts i-he Seq!




M;io

-Godesborj"
i

i /Dec 2.3

Hjhtiny lajS until

—>

"MUNICH"

"poyrom

U;l

°




75 VRS OF AM6R. FINANCE
COPVRIGHT

ey
LM6RLE HOSTETC6R

Letterinq by Ruth Rose
Reproduced by
The B . K . E l l i o t t Co.
Cle.veland.Cihi o

TOPICAL INDEX

Advertising
^
1
Aeronautics
1
Agriculture (General).. _
1
Agriculture (Crops)
1
Agriculture (Specific Crops)
2
Amuseme nt s, etc«
3
Automotive
...
3
Auto Production (U.S # and Canada). .3
Banking (National Banks)
3
Banking (Federal Reserve System)
4
Banking (Miscellaneous)
5
Banking Failures
,. 5
Bicycles, etc...
.....
M ..5
Books, Newspapers, e t c .
5
Cana 1 s...~..6
Canals (Panama) . _
„
6
Cat as tr o phe s, etc *
6
Commodity Prices (General) ~
6
Commodity Prices (Miscellaneous)
6
Di scovery9 etc .
~
~ -..._ 6
Educati onal
6
Electri cal
_
,6
Expo s it i ons
,
7
Failures (Commercial)
7
Failures (Miscellaneous)
7
Fashions, Vogue s, etc
7
Foreign Affairs (Great Britain)
8
Foreign Affairs (France)
-.. 8
Foreign Affairs (Germany)
„ 8
Foreign Affairs (Miscellaneous)
8
Foreign Relations of the U,S.
...9
Foreign Trade
9
Fue Is 9
Immigr at i on
.. 10
Insurance
• ~
10
Inventions, Events (Misc •)
10
Iron & Steel (General)
...10
Iron 5: Steel (U.S. Steel Corp.)
10
Labor (General)
11




Labor (Strikes)
11
m
Labor (Wages )
11
Labor (Unemployment, Unrest, etc.) 11
Merchand ising
_
11
Monetary (Gold)
12
Monetary (Silver)
12
Monetary (Greenbacks)
,~ 13
Monetary (Mi seel lane ous)
13
Money Market
~
*•• . 13
New Corporati ons
13
Organizations (Miscellaneous ).
13
Political (Names and Events)
14
Political (Amendments)
15
Political (Supreme Court Decisions) 15
Political (States Admitted)
16
Political (Pensions, Bonus, etc.)
16
Political (Frauds, etc.)
-..
- 16
PnryulA'fc'i rm

....

..

.

...

16

Railroads (Plant and Equipment)
16
Railroads (Finance, Earnings, etc f ) 17
Railroads (Regulation)
-~
~. 18
Railroads (Wages, Strikes, etc.)
—18
Railroads (Mileage)
18
Railroads (New Construction)
18
Real Estate, Bldg. Construction, etc.-18
Shipping, Ocean Travel, etc#
..18
Speculation, etc#. '
— 18
S port s
19
States and Cities
19
Street Railways
~
- -.. 21
Tariffs and Duties
22
Taxation
;
22
Trusts
22
U.S . Mail
.™23
U.S. Treasury
..23
Utilities
~
~.. 23
War s
24
Miscellaneous Names and Events
24

ADVERTISING
Patent medicine mfgrs., 1896; breakfast food, 1902; Cal. Fruit Grower!s
Exchange, 1907; National
, 1914$ Radio
, 1923.
AERONAUTICS
Langley fails, 1903$ Wright Bros., 1903; 1st Zeppelin, 1908; Bleriot,
1909; N#Y.-Phila. flight, 1910; 1st parachute jump, 1911; 1st Transcont. flight,
1911; Liberty motors, 1918; N*Y.-W&sh# air mail, 1918; N.Y.-Chicago air mail,
1918; 1st Trans-Atlantic flight, 1919; 1st transcont. airmail, 1920; 1st non-stop
transcont, flight, 1923; around-the-world flight, 1924; Detroit-Chicago airfreight, 1925; N.Y.-Chicago overnight air m i l , 1925; Lindbergh flight, 1927;
Auto-gyro, 1928; "Question Mark", 1929; "Graf Zeppelin", 1929; Hunter Bros*, 1930;
"China Clipper", 1935.
AGRICULTURE (General)
1st canned milk factory, 1861; Homestead Act, 1862; fruit jars, 1864;
Chicago stockyards opened, 1865; 1st Fed. Irrigation law, 1866; Amer. harvesters
and mow. mach. at Paris, 1867; Windmills, 1867; Grange organized, 1867; U. S.
Weather bureau estab., 1870; Elgin a butter center, 1870; 111. R.R. Act, 1871;
self-binders intro., 1871; Anti-monopoly Conv., 1873; Grange membership, 1874;
Grange harvesters, 1874; barbed wire on mkfc., 1874; 1st refrig. car, 1875;
McCormicksf in London, 1878; cream separators, 1879; Oranges, 1880; Grange superceded by Nat. Farm. All., 1880; wagon mfg., 1880; drainage tile, 1883; foreign
owned ranches, 1884; Chgo. grain mkfc., 1884; woven wire fence, 1885; harvestercombine, 1885; open range disappearing, 1885; Public Land sales, 1886; creameries
vs. churns, 1887; Dept. of Agric. estab., 1889; silk culture, 1889; Okla. opened,
1889; Populist party, 1890; Mary E. Lease, 1890; Russian expts., 1891; Rainmaking experiments, 1891; Boll-weevil, 1892; Cal. Fruit Grow. Exchg. formed, 1893;
Wool Prod#,1897; buggies and harness, 1 9 0 0 ; — n o w exceeded by Mfg., 1900;
Harvester trust, 1902; caterpillar tractor, 1903; cost of buggies, 1905; Farm
Bureau, 1911; % of Agric. expts., 1915; Fordson tractor, 1916; Fed. aid foi* roads,
1916; Fed. Farm Land banks, 1916; Price fixing, 1917; hog prices, 1919, gross farm
income, 1919;
exports, 1920; price of farm land, 1920; # of farms in U.S., 1920;
---bloc, 1921; Russ. crop failure, 1921; gasoline tractors, 1921; rural population,
1921; Fed. Intermed. Credit Banks, 1923; McNary-Haugen bills, 1924, 1926, 1927,
1928; Boulder Dam Act 1928; Agric. Mktg, Act, 1929; Medit. fruit fly, 1929; 1st
Farm board loan, 1929; Farm Bd. supports wheat, 1930; abandons stabilization, 1931;
wool production, 1931; gross farm income, 1932; AAA created, 1933; foreclosures
in Iowa, 1933; corn-hog benefits, 1933; drouth, 1934; cotton crop control act,
1934; Frazier-Lemke act, 1935; processing tax suits, 1935; dust storms, 1935.
AGRICULTURE (Crops)
Unusually favorable

Unusually unfavorable

1868 (Wheat and Cotton)

1866 (poor grain)

1870 (Cotton)

1871 (all)

1877 (all)

1890 (Corn and Wheat)

1878 (Cotton)

1894 (Corn)




-1-

AGRICULTURE (Crops) cone.
Unusually favorable

Unusually unfavorable

1879 (Corn and Wheat)

1895 (Cotton)

1880 (Corn and Wheat)

1901 (Corn)

1882 (Cotton)

1907 (all)

1884 (Corn and Wheat)

1909 (Cotton)

1888 (Corn and Cotton)

1930 (Corn)

1891 (all)

1934 (all)

1894 (Cotton)
1897 (Yi/heat and Cotton)
1898 (Wheat and Cotton)
1901 (Wheat)
1904 (Cotton)
1912 (Corn) *
1914 (Wheat and Cotton)

indicates all-time high.

1915 (Wheat) *
1926 (Cotton) *
AGRICULTURE (Specific Crops)
a. CORN:
Exports, 1882i price, 1889 and 1930.
b. COTTON:
Price, 1861,1862,1864,1866,1867,1891,1892,1894,1895,1904,1909,1910,
1914,1917,1920,1930,1933.
Misc.: Eng. turns to India, 1862; — t a x , 1862, 1864, 1866, 1867,
abolished, 1868, bill to refund, 1872; % of world prod-,
1881; -—exports, 1882; calico erase, 1885;
exports, 1889;
boll-weevil, 1892; futures trading, 1912;
exports, 1920;
tariff o n — , 1921;
acreage, 1934.
c. WHEAT:
Price: 1864,1867,1868,1870,1877,1882,1884,1892,1894,1896,1897,1898,
1915,1917,1920,1921,1929,1930,1931,1932,1933,1935.
Misc.:




in Erie Canal, 1868; exports, 1880 and 1882; visible
supply, 1883J 1st Manitoba shipment, 1885; Indian and
Argentine, 1888; free seed wheat, 1889; prod, in Dakotas, 1890*

AMUSEMENTS, etc.
Stereopticon, 1863; Pianos at Paris, 1867; phonograph, 1887; film roll
camera, 1888; movie camera, 1893; comic strips, 1894; 1st movies, 1896; Barnum &
Bailey, 1896; "Sherlock Holmes11, 1899; Ploradora, 1901; 5/movie theatres, 1906;
Merry-ividow waltz , 1908; jazz, 1908; censorship, 1910; player-pianos, 1912;
"Prisoner's Song" & Victor, 1921; talkies, 1926; all-talking pictures, 1928J
colored motion pictures, 1928•
AUTOMOTIVE
1st hydro-carbon motor, 1863; Henry Pord born, 1863; a four-cycle engine,
1876; Selden applies for patent, 1879; 1st successful motor, 1883; 1st ignition
system, 1883; Michigan's first, 1885; 1st*tire built, 1888; 1st tire used in
Prance, 1892; Duryea's invention, 1892; 1st Pord, 1892; 1st good-roads Conv., 1894;
1st Haynes, 1894; Selden patent granted, 1895; Duryea's production, 1895; PfeirisBordeaux race, 1895; Duryea's race, 1895; Barnum and Bailey advt., 1896; Olds,
incorp., 1897; 3-speed transmission, 1897; 1st auto sale, 1898; Auto-car's package
carrier, 1898; 1st auto-stable, 1899; Locomobile incorp*, 1899; 1st Packard, 1899;
Taxis in N. Y., 1899; Steam and electrics, 1899; 1st auto show, 1900; Packard
incorp., 1900; steering wheel, 1900; curved-dash Olds, 1900; reverse speed, 1900;
1st speed law, 1901; Mors' record, 1901; rear-entrance tonneaus, 1901; end of
"horseless carriage", 1901; French production, 1902; 1st arrest for speeding,
1902; N.A.A.M., 1902;. dealers, 1903; 1st transcont. trip, 1903; 1st Cadillac,
1903; 3400-mile tour, 1904; Studebaker, 1904; Buick, 1904; Reo, 1904; Presto-lite,
shock-absorbers, windshields, 1904; a 6-cyl. engine, 1905; 1st ignition lock,
1905; 1st concrete road, 1905; folding tops, 1905; 1st double-decked bus, 1906;
electric horns, 1906; auto show, 1907; average price, 1907; Highland Park, 1907;
General Motors, 1908; N.Y.-P&ris race, 1908; # of employees, 1908; 1st model "T",
1908; Hudson, 1909; Hupmobile, 1909; performance contests, 1909; headlight glare*
and dust nuisance, 1909; 6-cyl. cars denounced, 1910; left-hand drive, 1910;
windshields, 1910; Selden patent decision, 1911; self-starter, 1911; # of autos
in U. S#, 1912; stolen car menace, 19125 black tire treads, 1912; Chevrolet, 1913;
Pord assembly line, 1913; wire wheels, 1913; Lincoln Highway Ass f n., 1913; Ford's
minimum wages, 1914; Dodge, 1914; 1,000,000th model "T", 1915; 8-cyl. Cadillac,
1915; Federal aid for roads, 1916; Mr. Durant, 1916; Mr. Nash, 1916; Mr* Macauley,
1916; instalment sales, 1916; Fordson tractor, 1916; Liberty motors, 1918; no
auto show, 1919; Ford's minimum wages, 1919; Ford cuts prices, 1920; # per capita,
1920; sedans, 1920; prices cut, 1922; instalment sales, 1922; gasoline taxes,
1922-3; ethyl gasoline, 1923; 10,000,000th model "T" built, 1924; Ford Motor tax,
1925; Dillon Read purchase, 1925; Chrysler, 1925; 5 day 8-hour week, 1926;
15,000,000th model "T", 1927; the "big three", 1927; Chrysler-Dodge merger, 1928;
radio advertising, 1928; # per M« population, 1929; 1st Ford V-8, 1932; "Big
three"', 1933; # per M. population, 1933; two auto shows, 1935#
AUTO PRODUCTION (U.S. and Canada)
See: 1899,1905.1906,1908,1909,1913,1916,1922,1925,1926,1927,1928,1929,
1930,1932,1933.
BANKING (National Banks)
a. Number in U.S.: see 1863, 1865, 1868, 1876, 1922.




BANKING (National Banks) cone.
b. National Bank notes:
in circ*, 1864; additional author., 1870 and 1874; upper limit
removed, 1875; contraction threatened, 1881; retireirent of, 1886;
contraction continues, 1888.
c. Assets:
Govt. Sec* holdings, 1863, 1867, 1877; total assets, 1879.
d. Deposits:
total, 1866; begin sharp rise, 1878; up 40$, 1880*
e. Reserves:
Excess, 1868, 1869, 1870; deficit in, 1872; excess, 1876, 1884, 1885;
deficient, 1890; excess, 1894; deficient, 1905.
f. Misc.:
National Bank Act, I86S3 1st West of Rockies, 1865; "surprise calls"
inaug.,, 1869; Chase National opened, 1877; threaten to contract circ,
1881; oppose refunding, 1881; charters renewed, 1882.
BANKING (Federal Reserve System)
a. General:
Aldrich-Vreeland Currency Act, 1908; Nat f l Monetary Commission, 1908;
reports to Cong*, 1912; Fed. Res. Act, 1913; banks open, 1914; gold
reserves, 1914 & 1919; earnings, 1920; Glass-Steagall Act, 1932;
lose all gold, 1934; "credit control" act, 1935.
b. Credit Outstanding:
See 1917, 1918, 1919, 1920, 1922, 1924, 1928, 1932, 1933.
c. Rates:
See 1915, 1917, up 1920, 1923, cut 1924, cut 1927, up 1928, 5-hr,
meeting, 1929, up 1929, cut 1929, 1930, 1931, 1934.
d. Gov't. Sec. Holdings:
See 1919, 1922, 1923, 1924, 1927, 1929, 1932, 1933.
e. Rediscounts:
See 1920, 1922, 1923, 1924, 1928, 1931, 1935.
f. Ratio:
See 1917, 1918, 1919, 1920, 1921.
g. Notes:
See 1918, 1920, 1930.
h. Bills bought:
See 1934•




BANKING- • (Federal Reserve System) cone.
i. Member Banks:
(1) Deposits, 1924, 1927, 1928, 19S0, 1933.
(2) Loans and Inv/, 1920, 1924, 1927, 1929.
(3) Excess Reserves, 1929, 1932, 1934, 1935.
(4) Legal Reserves, 1924, 1932.
(5) Govt. Sec* Holdings, 1917, 1919*
BANKING (Miscellaneous)
State bank note issues, 1861; state bank notes taxed, 1865; many banks
formed, 1872; savings banks deposits, 1872; security loans by N#Y. Savings banks,
1873; deposits decline, 1873; A.B.A., 1st Conv., 1875; deposits low, 1877; banks
land-poor, 1877; N.Y. bank deposits, 1891, 1892, decline, 1893; Night and Day Bank
estab«, 1906; Trust companies, 1906; Fed. Farm Loan Banks, 1916; 1st Labor Bank,
1920; # of banks in U # S., 1920; branch-banking, 1922; bank acceptances, 1922;
Fed. Intermed. Cr. banks, 1923; chain banking, 1926; Postal savings, 1930; National
Credit Corp., 1931; RFC Act, 1932; anti-hoarding campaign, 1932; RFC loans revealed,
1932; FDIC created, 1933; Emergency Banking Act, 1933; deposit turnover low, 1934;
credit control act, 1935.
a. Jay Cooke; selling govt s e c , 1863 and 1871; underwrites Nor. E a c , 1869;
failure, 1873; death, 1905.
b. J. P. Morgan; settles rate war, 1888; becoming a power, 1894; the steel
trust, 1901; statement, 1908; death, 1913.
BANKING FAILURES
Savings banks, 1871; Bull's Head, 1873; Atlantic Nat f l, 1873; Jay Cooke
* Co., 1873; Union Trust Co., 1873; Bank of Calif., 1875; Bank of New York, 1876;
in Chicago, 1876; N # Y, savings banks, 1876; in Mass., 1878; panic in New Orleans,
1879; Newark and Boston, 1881; Marine Bank, 1884; 2nd Nat f l, 1884; Fidelity
Nat 1 !, 1887; Maverick, 1891; see 1893; Real Estate Trust Co., 1906; Mercantile
Nat'l, 1907; Knickerbocker Trust Co., 1907; see 1922, 1924, 1928; in Florida,
1929; Bank of the U.S., 1930; in the mid-West, 1930; in Chicago, 1931; in the
U.S., 1931; Nevada bank holiday, 1933; National bank holiday, 1933; see 1933, and
1934.
BICYCLES, etc.
1st

see velocipedes, 1869; imported bicycles, 1877; 1st Amer. bicycle, 1878;
club, 1880; good roads convention, 1894; output, see 1891, 1895, and 1899.

BOOKS, NEVSPAPERS, etc.
new Public Ledger building, 1866; "Das Kapital", 1867; Atlanta Constitution founded, 1868; daily newspapers in U # S., 1870; Chicago Daily News, 1st issue,
1875; "Tom Sawyer", 1876; "Progress and Poverty", 1879; Kansas City Star, 1880;
"BenHur", 1880; Ladies Home Journal, 1883; "Das Kapital" Vol. II, 1885; linotype
perfected, 1888; "Looking Backward", 1888; McClurefs magazine, 1905; Upton
Sinclair, 1906; "The Jungle", 1906; "Main Street", 1920; daily newspapers in U.S. #
1920*



CANALS
Earnings, 1862; Erie, 1868; Suez, 1869; Morris—abandoned, 1889.
CANALS (Ruiama)
Isthmian Commission switches to Panama site, 1901; U.S.-Colombia Treaty,
1903; excavation begins, 1906; -—opened, 1914•
CATASTROPHES, etc.
Forest fires, 1871; Chicago fire, 1871; "Epizootic" epidemic, 1872;
Brooklyn Theater fire, 1876; Yellow fever, 1878; severe winter, 1881; drouth, 1881;
darkest days, 1881; forest fires, 1881; So. Car. earthquake, 1886; N.Y* carbarn
fire, 1887; the Blizzard, 1888; Johnstown flood, 1889; cholera scare, 1892;
Galveston hurricane, 1900; San Francisco earthquake, 1906; forest fires, 1910;
Ohio Valley floods, 1913; "Flu" epidemic, 1918; Japanese earthquake, 1923; Florida
hurricane, 1926; Miss, valley floods, 1927; drouth, 1934.
COMMODITY PRICES (General)
See 1862, 1864, 1865, 1869, 1873, 1879, 1882, 1897, 1909, 1915, 1920,
1921, 1923, 1929, 1931, 1933, 1935.
COMMODITY PRICES (Miscellaneous)
Copper:
See 1907, 1918, 1929, 1930, 1931, 1932.
Printcloths: See 1896.
Rubber:
See 1919, 1922, 1928.
Silk:
See 1920.
Sugar:
See 1920, and 1929.
High cost of living, 1865 and 1913; price fixing, 1918; profiteering,
1919; fair price committees, 1919.
(also see AGRICULTURE)
DISCOVERY, etc.
North Pole discovered, 1909; Dr. Cookfs hoax, 1909; Amundsen at S. Pole,
1910; Byrd encircles N. Pole, 1926; Norge flies over N. Pole, 1926.
EDUCATIONAL
Land Grant Act, 1862; Cornell Univ., 1868; Johns Hopkins, 1876; Public
School expenditures, 1880; Univ. of So. Calif., 1880; Spencerian penmanship, 1881;
Univ. of Chicago, 1890, and 1892; Rhodes scholarships, 1902; centralized schools,
1902; tablets vs. slates, 1904.
ELECTRICAL

(also see UTILITIES)

a* General:
Atlantic Cable, 1866; 1st dynamo, 1867; UfSt-France cable, 1869;
1st—-vehicle, 1874; Brush's dynamo, 1875; arc-lamp, 1875j alternating current, 1878i 1st incandescent lamp* 1879; Broadway lighted,
1880; street lighting* 1881; Pearl St. powerhouse, 1881; street
railways, 1883; lighting in railway coach^a* 1883; let regular trip



ELECTRICAL (cone.)
by st* car, 18845 steam turbine invented, 1884; ---welding, 1885;
<-—-railways, 1887; -—motor in factory, 1893; Insuil in Chicago, 1893;
Niagara turbines, 1894; interurbans, 1895, and 1897;
automobiles,
1899; street cars on Broadway, 1901; kwh output, 1902; Pacific cable,
1903; -—furnaces, 1914;
refrigerators, 1920; photo-electric cell,
1927; television demonstration, 1927; color television, 1929; death
of Thomas Edison, 1931*
b» Telegraph:
1st transcont., 1861; rates, 1862; -—strike, 1883; U#S.-Brazil-—,
1883;
WESTERN UNION: buys competitor, 1866, ownership of lines, 1869, passes
dividend, 1876, offered Bel^s patent, 1876, buys
competitor, 1881, buys rival, 1887, night letters,
1911, A,T#ft T., 1913.
c. Telephone:
Invented, 1875; patent for sale, 1876; 1st business---, 1877; let in
Detroit, 1878; 1st exchg. in Phila., 1878; # of exchgs. in U.S.,
1881; A.T#& T f incorp. 1885; 1st underground circuit, 1887; longdistance lines, 1888; NtY.-Chicago service, 1892; # of subscribers in
New York, 1893; independent companies, 1904; anti-trust suit, 1913;
N.Y«-San Francisco service, 1915; death of Mr. Bell, 1922; N.Y.Germany, 1928; # of — i n U.S., 1930; teletype service, 1931#
£• Radio (Wireless)
1st signal, 1896; trans-Atlantic, 1907; N.Y.-Chicago, 1909; U.S.Germany, 1914; KDKA, 1920; 1st loudspeaker, 1921; headphones, 1922;
1st paid advt., 1923; 1st trans-Atlantic broadcast, 1924; pictures
transmitted by
, 1924; 1st radiophone, 1926; # of radios in U.S.,
1927; # of broadcasting sta. in U.S., 1927; coast-to-coast hook-up,
1928; production record, 1935•
EXPOSITIONS
Philadelphia Centennial, 1876; Columbian, 1892, and 1893; Louisiana
Purchase, 1904; Panama-Calif#, 1915; Panama-Pacific, 1915; Sesqui-Centennial,
1926; Century of Progress, 1933 and 1934.
FAILURES (Commercial)
See 1861, 1862, 1863, (liabilities) 1873, 1875, 1876, 1878, 1879,. 1884,
1891, 1893, 1899, (liabilities) 1905, 1908, 1915, 1918, 1921, 1922,
1923, 19 32, 1935, section 77-b, 1935.
FAILURES (Miscellaneous)
Textile, 1866; Hoyt & Sprague, 1873; Daniel Drew, 1876; steel, 1883;
Grant and Ward, 1884; H» S# Ives & Co.-, 1887; National Cordage, 1893; inter-urban,
1919; Prince & Whitely, 1930; Fox Theatres, 1930; Mid-West Utilities, 1932.
FASHIONS, VOGUES, etc.
Paper collars, 1876$ bulfalo robes, 1882; kerosene lamps, 1884; calico



-7-

FASHIONS, VOGUES, etc* (cone.)
craze, 1885; autograph albums, 1885; congress gaiters, 1885; flannel underwear,
1890; ramie, 189S; hansoms, sulkies, victorias, and phaetons, 1897; moustache cups,
1898; detachable cuffs, 1898; shirtwaists, 1900; goldek-oak furniture, 1901; long
hatpins, 1905; high button shoes, 1906; women's smoking, 1908; knee-high skirts,
1921; King Tut, 1922; crossword puzzles, 1925; smoking at Bryn Mawr, 1925.
FOREIGN AFFAIRS (Great Britain)
Overend-Gurney failure, 1866; tunnel under Channel, 1869; White Star
line, 1870; crisis, 1875; death of Bagehot, 1877; City of Glasgow Bank failure,
1878; Baring Bros..failure, 1890; So* African bubble, 1893; speculation in gold,
1895; Jameson1 s raid, 1896; Fashoda incident, 1898; Boer War, 1899; panic, 1899;
death of Queen Victoria, 1901; Boer War ends, 1902; (see TOR)*Stevenson rubber
plan, 1922;
returns to gold, 1925; Mr. Norman in U.S., 1927; war loan listed,
1928; Hatry crash, 1929; depression, 1930;
goes off gold, 1931;
abandons
free trade, 1931; stabilization fund, 1932; Ottawa agreements, 1932; conversion
loan, 1932; war debts, 1932; housing boom, 1932.
Pound sterling quoted: see 1914, 1917, 1920/1922, 1925, 1926, 1929,
1932, 1933.
Bank of Eng. rate* see 1866, 1906, 1929, 1931, 1932*
Bank of Eng* gold reserve: see 1876* 1928, 1932, 193&.
Pound sterling unpegged* 1919, and 1932•
Bank of Eng« ratio, 1930; credit exhausted, 1931*
FOREIGN AFFAIRS (France)
Paris Exposition, 1867; Franco-Prussian War, 1870; Treaty of Paris, 1871;
Bank of -— cuts rate, 1887; Paris Exposition, 1889; Madagascar, 1895; Fashoda
incident, 1898; auto prod., 1902; franc quoted, 1926; M. Rist comes to U.S., 1927;
franc quoted, 1928;
goes on gold, 1928; M. Laval in U#S., 1931; war debts,
1932; Bank of ~ ~ ratio, 1934; — loses gold, 1935; gold bloc in distress, 1935.
FOREIGN AFFAIRS (Germany)
Buying U. S* Govt. S e c , 1864; Franco-Prussian War, 1870; Treaty of
Paris, 1871;
goes on gold, 1873; crisis, 1874; Karl Marx, 1883; Krupp steel,
1887; panic, 1899; panic, 1907; see M R ; Republic of Germany, 1918; mark quoted,
1919; inflation, 1921; mark quoted, 1922; Reichsbank rate, 1922; Ruhr occupation,
1923; inflation, 1923; 1st payment under Dawes plan, 1926; Herr Schacht in U.S.,
1927; Young Plan, 1930; German 5^-fs, 1930* Nazi gains, 1930; Austro-Ger. Anschluss,
1931; crisis in ---, 1931; anti-reparation feeling, 1931; Reichsbank rate, 1931;
war debts, 1932; Lausanne, 1932; Hitler assumes power, 1933; Reichsbank gold
reserve, 1934.
FOREIGN AFFAIRS (Misc.)
Mt. Cenis tunnel 1861; Nobel, 1863 and 1867; Suez Canal, 1869; panic in
Austria, 1873; Strousberg failure, 1874; crisis in Russia, 1874; Brazilian
monarchy overthrown, 1889; S. Amer. revolutions, 1891; Australian panic, 1893;
Japan goes on gold, 1897; Russ-Jap War, 1904-5; panic in Egypt, Japan, and Chile,
1907; Chinese Republic founded, 1912; Balkan War, 1912-3; Palace of Peace, 1913;
Republic of Austria founded, 1918; ruble quoted, 1921; Mussolini's 1st cabinet,
1922; U.S.S.Russia, founded, 1923; Belgium returns to gold, 1926; India returns



FOREIGN AFFAIRS (Misc.) cone*
to gold, 1927; Italy returns to gold, 1927; European banks cutting rates, 1927;
Foreign securities sold in U.S., 1927-8; Japanese banking moratorium, 1927;
depression in Australia, 1927; international gold standard, 1928; Spain, Argentine,
and Australia go off gold, 1929; revolutions in S. Amer., 1930; Japan goes on
gold, 1930; European banks cutting rates, 1930; Credit-Anstalt, 1931; Hoover
moratorium, 1931; Mexico, Japan, India, Egypt, Colombia, Norway, Sweden, Denmark,
Finland, Canada, and Portugal go off gold, 1931; Ivar Krueger, 1932; Belgium devalues, 1935; Ethiopian conquest, 1935.
FOREIGN RELATIONS of the U.S.
Trent affair, 1861; Atlantic Cable, 1866; Indian trouble, 1867; 1st
Chinese embassy, 1868; U.S.-France cable, 1869; Alabama claims, 1872; Custerfs
massacre, 1876; U.S.-Brazil telegraph, 1883; Statue of Liberty, 1885; Sarnia
tunnel, 1890; Chile war scare, 1892; Venezuelan episode, 1895; Boxer Rebellion,
1900; Boxer indemnity, 1902; Treaty at Portsmouth, 1905; Chinese loans, 1911;
Honduras loan, 1911; Dollar diplomacy, 1911; Canadian reciprocity, 1911; Vera Cruz,
1914; U.S.-Germany radio, 1914$ Villa's raid, 1916; Danish West Indies, 1916;
see YflLR; foreign debt commission, 1922; U.S.-Brit, war debt, 1923; Disarmament
treaty, 1923; 1st trans-Atlantic broadcast, 1924; Dawes plan, 1924; Belgian, Fr.,
and Italian war debts, 1925; Mellon-Berenger agreement, 1926; War*debt commission
dissolved, 1927; N.Y.-Germany telephone service, 1928; Young plan, 1930; Hoover
moratorium, 1931; war debts, 1932; World Eco. Conf., 1933; Trade Treaties, 1935.
FOREIGN TRADE
Exports: see 1873, 1878, 1882, 1897, 1915, 1923.
Imports: see 1872, 1873, 1889.
Balance of trade: see 1874, 1881, 1887, 1900.
Invisible items, 1900; coffee imports, 1931.
FUELS

(also see" UTILITIES)
Coal:
Molly Maguires, 1876; anthracite prod., 1888; U.M.W. organized, 1890;
miners strike, 1892; Colo. Fuel and Iron, 1892; miners strike, 1894,
1897, 1902, and 1903; price of coal, 1902; strike, 1912; Colo, miners,
1914; wages raised, 1920; Mingo county, 1921; Herrin County, 1922;
Jacksonville agreement, 1924; strike, 1925; Guffey Act, 1935.
Petroleum, etc.
(also see TRUSTS)
Anniv. of 1st well, 1861; price of
1861 and 1863; production, 1863;
price, 1864; 1st pipe line, 1865; 1st tank car, 1865; 1st Russian well,
1869; price, 1872; 1st restriction plan, 1872; % exported, 1877;
Standard Oil Co* incorp., 1878; tidewater pipe line, 1879; speculation
in oil, 1882; Russian competition, 1884; production, 1901; Texas oil
fever, 1901; Texas Corp., 1902; price of gasoline, 1913; price of
1920; Persian
, 1920; gasoline taxes, 1922-3; ethyl gasoline, 1923;
Rumanian ——, 1924; Venezuelan — , 1925; Diesel engines, 1934.




IMMIGRATION
See 1877, 1882, 1897, 1907, 1913, 1918, 1921, 1923, 1932*
also: Chinese in Calif., 1861; 1st Chinese exclusion act, 1882; antiChinese outbreaks, 1885; exclusion, 1902; Hindoos in Calif., 1910;
Quota Act, 1921»
INSURANCE
B*of L.E., 1863; 1st paid fire dept*, 1865; accident
, 1865; life
in force, 1870; industrial
, 1880;
scandals, 1905;
in force, 1929,
INVENTIONS, EVENTS (Misc)
Power rock-drill, 1861; nitroglycerin, 1863; nitrous oxide, 1864; rubber
stamps, 1864; sewing machines, 1864 and 1867; Waltham watches, 1865; dynamite,
1867; whip mfg*, 1869; Brooklyn bridge, 1870-1883* anti-septic surgery, 1870;
cloth-cutting machines, 1872; Yellowstone Nat!l Park, 1872; 1st typewriter, 1873;
Eads* steel bridge, 1874; Corliss engine, 1876; Washingtonfs monument, 1884; cash
register, 1885; compressed air, 1891; carborundum, 1891; smokeless powder, 1891;
argon and helium discovered, 1894; X-Rays discovered, 1896; radium, 1898; rayon,
1923; cellophane, 1924; Holland tunnel, 1927.
IRON & STEEL (General)
1st Bessemer steel, 1864; 1st steel rail, 1664; A«I»& S. Association
formed, 1864; production* 1865; 1st wire rod mill, 1869; 1st steel foundry, 1671;
blast furnaces built, 1872; iron rail prod*, 1872; Beth, steel, 1873; Eads* steel
bridge, 1874; A#A.of I.& S. workers formed, 1876; blast furnaces, 1882; strike,
1882; protection, 1883; 1st basic steel, 1884; 1st steel beams, 1884; Term* and
Ala*, 1887; Krupp steel, 1887; Bessemer prod,, 1887; Navy contracts, 1887; 20"
beams, 1888; Andrew Carnegie, 1888; pig iron prod., 1889; wages, 1891; Colo. Fuel
and Iron, 1892; Homestead riots, 1892; iron prod,, 1894; pig iron prod*, 1895;
protection, 1897; Am* Steel & Wire formed, 1897; Carnegie Steel Co*, 1900;
Bethlehem Steel Corp., 1904; Lake Superior iron ore, 1904; vanadium steel, 1907;
pig iron prod*, 1909; A.I.& S# Institute formed, 1910; pig iron prod., 1915; price
fixed, 1917; death of Carnegie, 1919; freight car orders, 1922; "Pittsburgh plus",
1924; auto industry, 1928; public works, 1930.
Price of Iron: see 1867, 1872, 1873, 1874, 1879, 1880, 1915, 1920,
IRON and STEEL (U. S. Steel Corp.)
Launched, 1901; profit sharing, 1903; dividend, 1906; Gary, Ind., 1906;
dividend increased, 1910; old-age pensions, 1911; anti-trust suit, 1911; "not a
trust", 1920; unfilledtonnnage, 1920; 8-hr, day, 1923; # of employees, 1923;
stock goes over par, 1924; stock dividend, 1927; death of Judge Gary, 1927; earnings, 1930; stock goes below par, 1931; cuts dividend, 1931 and 1932; passes
dividend, 1932.
es: cut, 1903, 1921, 1931.
raised, 1910, 1916, 1917, 1918, 1922, 1923.




-10-

LABOR (General)
1st -— paper, 1863; B« of L. E., 1863; cigar-makers union, 1864; llDas
Kapital , 1867; eight-hour day, 1868; Knights of Labor, 1869; Molly Maguires, 1876;
A. A, of I. & S* workers formed, 1876; Dennis Kearney, 1877; A* F. of L. formed,
1881; Wallace Act, 1883; Bureau of Labor created, 1884; Knights of Labor, 1886;
Labor Day, 1887 and 1894; U.M.W. organized, 1890; Sherman anti-trust law, 1894;
Danbury hatters, 1902 and 1908; U« S. Dept. of Commerce and Labor created,. 1903;
profit-sharing, 1903; state eight-hour day laws, 1905; I.W.W., 1905; old-age
pensions, 1911; U« S. Dept. of Labor created, 1913; I.W.W., 1914 and 1919; Daribury
hatters, 1915; Adamson law, 1916; negro migrations, 1917; anti-loafing laws, 1918;
child-labor, 1918 and 1922; Communists, 1919; 1st labor bank, 1920; American plan,
1922; eight-hour day, 1923; Jacksonville agreement, 1924; A. F. of L., 1924;
Gompers1 death, 1924; 40-hour week, 1926; the new South, 1929; 1st unemployment
insurance law, 1932; NRA, 1933; Wagner Act, 1935; Social Security Act, 1935.
11

LABOR (Strikes)
Bricklayers, 1868; in New York, 1872; cotton mill, 1875; railroad, 1877;
iron v/orkers, 1882; telegraph operators, 1883; coal, 1884; MOP, MKT, and coal,
1886; Anarchist riots, 1886; C# B. & Q», 1888; Homestead riots, 1892; switchmen1 s
and miners, 1892; Pullman, 1894; miners, 1894; coal, 1897; miners, 1902; coal,
1903; teamsters, 1905; many
1911; anthracite, 1912; many
, 1913; Colorado
miners, 1914; many ——, 1919; Seattle, Boston police, Gary, and miners, 1919;
many
, 1921; Mingo county, 1921; Herrin County, 1922; railroad shopmen, 1922;
bricklayers, 1923 and 1926; anthracite, 1925; farmers, 1932.
LABOR (Wages)
Declining, 1875; .bookkeepers1, 1891; rising, 1895 and 1899; cut, 1903
and 1904? rising, 1905, 1907 and 1910; Ford's minimum, 1914; railroad, 1914;
U# S« Steel, 1916, 1917 and 1918; railroad, 1918; Ford's minimum, 1919; many cuts,
1921; U..S. Steel, 1921; railroads cut, 1920, 1922, and 1923; bookkeepers1, 1925;
carpenters1, 1925.
LABOR (Unemployment, unrest, etc.)
Unemployed march in Chgo., 1873; unemployment in 1874 and 1877; breadlines in N.Y#, 1875; Coxeyfs army, 1894; breadlines, 1908; Hoover's unemployment
Conf., 1921; # of unemployed, 1921; Coxey elected mayor, 1931; man-a-block, 1932;
unemployment insurance, 1932; # of unemployed, 1933; Key West, 1933; CVffi., 1933;
FWA, 1933; Work-relief Act, 1935; WPA, 1935; Townsend plan, 1935; N a t U Union for
Soc. Justice, 1935*
MERCHANDISING
1st department store, 1861; A. T. Stewart, 1861; Marshall Field & Co.,
1865; instalment sales, 1868; Montgonery Ward, 1872; death of Mr. Stewart, 1876;
Yfoolworth's 5 and 10, 1879; Sears, Roebuck, 1896; wooden Indians, 1897; Sears1
catalog, 1900; instalment selling, 1916 and 1922; cellophane, 1924; 1st air cooled
dept. store, 1926.




-11-

MONETARY—GOLD
General:
Gold mkb. estab#, 1862; Calif, shipments, 1866; Black Friday, 1869;
gold contracts, 1869; gold market disbands, 1871; disc* in Black Hills,
1874; Specie Resumption Act, 1875; European banks acquiring, 1875;
specie payments begin, 1879; gold in N. Y. banks, 1879; production, 1881;
discovered in the Rand, 1885; Rand prod,, 1887; cyanide process, 1890;
gold clauses, 1891; disc, in Klondyke.. 1896; So* African prod*, 1899;
Gold standard, 1899 and 1900; Transvaal prod a, 1905; U. S. prod*, 1915;
embargo lifted, 1919; Thomas amendment, 1933; gold clauses, 1933;
Revaluation Act, 1934; gold clauses void, 1935; gold suits banned, 1935*
Price of gold:
See 1863, 1863, 1864, 1865, 1867, 1871, 1873, 1877, 1878, 1933, 1934.
U. S« gold stocks:
See 1875, 1885, 1914, 1917, 1919, 1920, 1922, 1923, 1924, 1927, 1931,
1932, 1935,
Exports:
See 1866, 1882, 1884, 1886, 1891, 1892, 1894, 1917, 1919, 1925, 1927,
1928, 1931, 1932.
Imports:
See 1879, 1880, 1881, 1886, 1891, 1896, 1897, 1920, 1921, 1926, 1928,
1932, 1933, 1934, 1935*
U. S. Treasury gold reserve:
See 1879, 1885, 1889, 1892, 1893, 1894, 1895, 1896, 1898, 1900.
Gold certificates:
See 1864, 1913, 1917, 1922, 1925, 1930, 1931.
MOMKTARr--SILVER
Comstock tunnel, 1865 and 1869; "Crime of ! 73", 1873; Comstock lode,
1873; Germany starts selling, 1873; soft money party turns to, 1875; more coinage
authorized, 1876; Bland Silver Purch. Act, 1878; $ and certs, boycotted, 1878;
discrimination against, 1882; U. S. stocks, 1885; smaller denom. authorized, 1886;
question ignored, 1888; Sherman Silver Purchase Act, 1890; Treasury purchases,
1890, 1892 and 1897; Brussels Conf., 1892; World's Pair, 1892; sterling bankers,
1892; Act repealed, 1893; India drops, 1893; U. S» stocks, 1894; seigniorage,
1894; free silver loses, 1896; commission to Europe, 1897; Pittman Act, 1918;
silver purchase plan, 1933; Silver Purchase Act, 1934; London price pegged, 1934;
China goes off, 1935.
Production:
See 1873, 1875, 1881, 1915, 1933.
Price of Silver:
See 1874, 1875, 1889, 1890, 1892, 1893, 1897, 1898, 1902, 1919, 1930,
1934, 1935.
Free coinage bills:
See 1876; 1886, 1890, 1891, 1892.



-12-

MONETARY—LEGAL TENDERS (Greenbacks)
Specie payments suspended, 1861; Legal tender Act, 1862; 111. Sup. Ct.
rules against, 1863? N. Y. Sup. Ct. rules against, 1863; retirement of, 1865 and
1866; contraction forbidden, 1868; Bronson vs. Rhodes, 1869; Hepburn vs. Griswold,
1870; Knox vs. Lee, 1871; reissued, 1873; expansion legalized, 1874; specie
resumption Act, 1875; sound money party wins, 1875; attempts at repeal of resumption, 1876; retirement, 1876; 1st step toward resumption, 1877; further cahcellation forbidden, 1878,
Paper dollar quoted:
See 1863, 1864, 1867, 1868.
MONETARY—Misc.
Office of Comptroller of the Currency created, 1863; "In God We Trust",
1864; 1st Lincoln penny, 1909.
Money in circulation: aee 1879 and 1881.
MONET MARKET

(also see R. R. Finance)

AAA bonds in great demand, 1875; "Undigested Securities", 1903; Pujo
committee, 1912; I B A formed, 1912; security loans, 1925; foreign issues sold in
TJ. S., 1927-8; foreign bonds declining, 1930; bond pool, 1932; bond trading at
12-yr. high, 1934; college etc-., endowments, 1954.
Brokers Loans: see 1927, 1928, 1929, 1930, 1931.
Call Loans: see 1864, 1885, 1893.
Call Money: see 1905, 1929, 1932, 1935.
Interest Rates: see 1871, 1924, 192.8, 1929.
MEW CORPORATIONS or BUSINESSES FOUNDED

RAIL BOND YIELDS, etc.:
see 1874, 1899, 1S20,
1927, 1929, 1931,
and 1932.

(also see TRUSTS, BAILROADS, and UTILITIES)

Standard Oil of Ohio, 1870; Westinghouse E l e c , 1872; Homestake Mining
Co., 1877; N. Y. Steam Corp., 1882; United Gas Improvement, 1882; Pittsburgh Plate
Glass, 1883; Consolidated Gas, 1884; A. T. & T., 1885; Aluminum Co., 1888; Amer.
Sugar Refining, 1891; National Lead, 1891; General Electric, 1892; Colo. Fuel &
Iron, 1892; Brooklyn Union Gas, 1895; Amer. Steel & Wire, 1897; Packard, 1900;
U. S. Steel, 1901; InternatU Merc. Marine, 1902; Texas Corp., 1902; Beth. Steel
Corp., 1904; Reo, 1904; Elec. Bond and Share, 1905; Gen. Motors, 1908; Hudson
Motor, 1909.
ORGANIZATIONS (Misc.)
National Academy of Sciences, 1863; Ku Klux Klan, 1865; G.A.R., 1866;
death of Brigham Young, 1877; Populist party, 1890; Boy Scouts, 1910; American
Legion, 1919; Ku Klux Klan, 1920; "Technocracy", 1932.
Temperance movement: noted by brewers, 1867; Nat!l Prohibition party,
1869; Kansas adopts prohibition, 1881; state prohibition laws, 1915; XVIII amendment submitted, 1917; War-time prohibition Act, 1918; XVIII amendment ratified,
1919; effective, 1920; XXI amendment ratified, 1933.




-13-

POLITICAL—Names and Events
Jefferson Davis inaugurated, 1861•
Secretary Chase and the banks, 1861.
Abraham Lincoln inaugurated, 1861; Gettysburg address, 1865; renom., 1864;
death of, 1865•
Geo. B. McClellan nominated, 1864.
Copperheads, 1864 •
Andrew Johnson takes office, 1865; impeachment proceedings, 1868*
Reconstruction Act, 1867#
Horatio Seymour nominated, 1668.
Ulysses S. Grant*nominated, 1868 and 1872; death of, 1885.
Women's suffrage, 1869.
The Tweed Ring, 1871.
Calvin Coolidge born, 1872; takes oath, 1923; nominated, 1924; 3rd term, 1927;
death of, 1933.
Horace Greeley nominated, 1872; death of, 1872.
Salary Grab Act, 1873.
Herbert Hoover born, 1874; unemployment conference, 1921; nominated, 1928 and
1932.
Greenback Party Convention, 1875; 15 elected, 1878; Weaver nom., 1880; sound
money vs. soft money parties, 1875.
R. B. Hayes nominated, 1876.
Samuel B. Tilden nominated, 1876.
Presidential deadlock, 1877.
Winfield S, Hancock nominated, 1880.
James A. Garfield nominated, 1880; death of, 1881.
Maine goes Democratic, 1880.
Franklin D. Roosevelt born, 1882; nominated (v.p.), 1920; nominated, 1932.
Rivers and Harbors Act, 1882.
Civil Service Act, 1883•
James G. Blaine nominated, 1884.
Grover Cleveland nominated, 1884, 1888 and 1892; death of, 1908.
"Mugwumps", 1884.
"Rum, Romanism, and Rebellion", 1884.
Robert LaPollette elected to Congress, 1884; breaks with Taft, 1911; death
of, 1925.
Presidential Succession Act, 1886.
Benjamin Harrison nominated, 1888 and 1892.
Congress-longest session to date, 1888.
Secretary Windom's plan, 1889.
Populist Party founded, 1890; carries 4 states, 1892; nominates Bryan, 1896.
Australian ballot, 1890.
William J. Bryan elected to Congress, 1890; nominated, 1896, 1900 and 1908;
resigns from State Dept., 1915; death of, 1925.
Congress, 1st billion-dollar, 1892.
"Sugar Ring", 1894.
William McKinley nominated, 1896 and 1900; death of, 1901.
Straw votes, 1896.
"Czar" Reed, 1897.
Silver Republicans, 1900,
Anti-Imperialists, 1900.
Direct Primaries, 1900.
"Pull Dinner Pail" campaign, 1900.
Seth Low vs. Tammany, 1901.



-14-

POLITICAL--Names and Events (cone.)
Theodore Roosevelt—message to Congress, 1901; nominated, 1904 and 1912;
death of, 1919.
Alton B. Parker nominated, 1904.
Eugene V. Debs nominated, 1904.
"Muck-rakers", 1905.
Longworth-Roosevelt nuptuals, 1906.
Pure Food and Drugs Act, 1906.
Prosperity Leagues, 1908 •
William H. Taft nominated, 1908 and 1912; death of, 1930.
Rift in Republican Party, 1910,
Pinchot-Ballinger controversy, 1910.
Progressive Party, 1911 and 1912.
XVTIth amendment, 1913.
Woodrow Wilson nominated, 1912 and 1916; collapses, 1919; death of, 1924«
Charles E. Hughes nominated, 1916.
XJXth amendnent submitted, 1919; ratified, 1920.
James M. Cox nominated, 1920.
Warren G. Harding nominated, 1920; death of, 1923.
"Progressives" hold balance of power, 1922.
John W. Davis nominated, 1924.
Federal salaries upped, 1925.
Alfred E. Smith nominated, 1928.
The last lame duck session, 1934.
Louisiana under "dictatorship11, 1934.
POLITICAL—-Amendments to the Constitution
XlVth ratified, 1868.
XVth ratified, 1870.
XVIth submitted, 1909; ratified, 1913.
XVTIth effective, 1913.
XVIIIth submitted, 1917; ratified, 1919; effective, 1920.
XlXth submitted, 1919; ratified, 1920.
XXth submitted, 1932; ratified, 1933.
XXIst submitted and ratified, 1933.
POLITICAL—Supreme Court Decisions
Bronson vs. Rhodes, 1869.
Hepburn vs. Griswold, 1870.
Knox vs. Lee, 1871.
Pacific Railroads, 1875Wilson Income Tax, 1895.
Sugar Trust, 1895•
Trans. Mo. Frgt. Ass f n., 1897*
Addyston Pipe, 1899.
Louisiana Lottery, 1903.




Northern Securities, 1904.
Daribury Hatters, 1908.
Selden Patent, 1911.
Danbury Hatters, 1915.
Child Labor, 1918.
O'Fallon, 1929.
Gold Clauses, 1935.
Nat f l Recovery Act, 1935.

POLITICAL—States admitted
Kansas, 1861
West Virginia, 1863
Nevada, 1864
Nebraska, 1867
Colorado, 1876

N. Dakota, 1889
S. Dakota, 1889
Montana, 1889
Washington, 1889
Idaho, 1890

Wyoming, 1890
Utah, 1896
Oklahoma, 1907
New Mexico, 1912
Arizona, 1912

POLITICAL--Pensions, Bonus, etc.
Last Revolutionary War, 1867; Pensions raised, 1873, 1879, and 1882;
vetoed, 1886 and 1887; raised, 1887 and 1890; # on pension rolls, 1902; War Risk
Insurance Act, 1917; American Legion, 1919; a bonus vetoed, 1922; pensions at
all-time high, 1923; bonus veto over-ridden, 1924 and 1931; Bonus "Arniy", 1932;
bonus vetoed, 1935*
FOLITICAL—Frauds, etc*
Credit Mobilier, 1872; TOiiskey Ring, 1875; Star Route, 1881, Post-Office,
1903; Land Office, 1903; Land, 1908; Teapot Dome, 1922-4.
POPULATION
See 1870, 1880, 1890, 1900, 1910, 1920 and 1930.
Of Alaska, 1880; urban vs. rural, 1921.
RAILROADS —Plant and equipment
Miss R. blockade, 1861; Central Pacific chartered, 1861; Union Pacific
chartered, 1862; Homestead Act, 1862; 1st mail car, 1862; Northern Pacific
chartered, 1864; 1st steel rail, 1864; foreign locomotive orders, 1864; Chicago
trains, 1864; Southern Pacific chartered, 1865; 1st tank cars, 1865; Atlantic &
Pacific chartered, 1866; 111. Central longest in U. S # , 1866; Vanderbilt president
on N Y C, 1867; Pullman Co. organized, 1867; Credit Mobilier contract, 1867; 1st
train into Cheyenne, 1867; U. S. locomotives at Paris, 1867; 1st into Nevada, 1867;
"the Battle of the Giants", 1868; Chesapeake & Ohio organized, 1868; airbrakes
introduced, 1868; 1st dining car, 1868; "Golden Spike", 1869; Penna. and N Y C
connections at Chgo., 1869; N. Y. to 'Frisco travelling time, 1869; Land-grant
lobbies, 1869; Northern Pacific construction begins, 1870; 1st through car, 1870;
1st R.R. pool, 1870; Texas & Pacific 1871; Grand Central depot, 1871; 111. Railroad Act, 1871; Credit Mobilier exposure, 1872; locomotives by Baldwin, 1872 and
1874; rail production, 1872; 1st in Japan, 1872; passenger car heating, 1872; low
bridges forbidden, 1872; N.Y., N.H. & H. org., 1872; B. & 0. starts work on Chgo.
line, 1873; Nor. Bac. construe, stops, 1873; Hoosac tunnel completed, 1873; 1st
Jesse James robbery, 1873; Potter R.R. law, 1874; B. & 0. reaches Chicago, 1874;
fast mail trains, 1875; 1st refrigerator car, 1875; death of Cornelius Vanderbilt,
1877; competition btw. St. Louis and Atlanta, 1877; Nor. Pac. construe, resumed,
1879; consolidations, etc., 1880; Nor. Pac. reaches Mont, territory, 1880; oranges
shipped, 1880; severe winter, 1881j Jesse James killed, 1882; Sou. Pac. completed,
1882; Denver & Rio G. opened, 1883; Nor. Pac. opened, 1883; At. & Pac. opened,
1883; coach lighting by e l e c , 1883; West Shore being built, 1883; Standard time,
1883; nicknames for securities* 1883; W, & L* E. under construe, 1884; 1st
Mexico-Chgo., 1885; Canadian P&c. opened, 1885; Anarchist riots, 1886; Interstate
Commerce Commission created, 1887; standard gauge now prevalent, 1888; stoveheated coaches forbidden, 1889; seed wheat distributed, 1889; 1st engineer dies.,



-16-

RAILROADS —Plant and equipment (cone.)
1890; 1st Empire State Express, 1891$ Great Northern comply 1893; Empire State
speed record, 1893; Pullman strike, 1894; more speed records, 1895; cost of steel
rails, 1897; weight of freight cars, 1900; "XXth Century11 and the "Penna Special",
1902; Hudson River tunnel franchise, 1902; speed records, 1903; last trunk line
author., 1905; 1st all-steel coaches, 1906; Hudson R. tunnel opened, 1908; Key West
R*R.,19O8; C. M. & St. P. completed, 1909; U. S. takes over railroads, 1917;
returned to owners, 1920; Diesel trains, 1934; air-conditioned trains, 1935.
RAILROADS --Financea Income, Earnings, etc.
Big earnings, 1862; Erie stock watering, 1868; NYC stock div., 1868;
commodity price decline, 1869; watered stock, 1869; Rock Island stock issue, 1869;
Jay Cooke and the Nor. P a c , 1869; 1st "holding" company, 1870; Franco-Prussian
War, 1870; P&*. R.R. richest corp. in U. S., 1871; rail bond yields, 1871; Jay
Gould and the Erie, 1872; trunk line dividends, 1873; rail bond prices, 1874; bonds
in default, 1874; Lake Shore passes div., 1874; Wabash and Erie defaults, 1875;
Nor. Pac. reorganized, 1875; Pacific railroads1 decision, 1875; no new capital,
1875; rate war, 1876; MOP defaults, 1876; 111. Cent, cuts div., 1876; D. & L. W.
passes div., 1876; Centennial exposition, 1876; foreclosures, 1877; consolidated
mortgages, 1877; guaranteed mortgages, 1877; stocks very low, 1877; competition,
1877; Long Is. R.R. defaults, 1877; land sales, 1878; U. P. passes div., 1878;
Phila. & Reading issues notes, 1878; earning power revives, 1879; St. Paul resumes
div., 1879; bond sales in Europe, 1880; rail stocks at new highs, 1880; D. & L. W.
resumes div., 1880; L. & N. stock dividend, 1880; consolidations, etc., 1880;
Gould*s control, 1880; ownership, 1880; stocks at peak, 1881; earnings'statements
now published, 1881; # of NYC stockholders, 1881; rate wars, 1883; Phila. & Read.,
reorg., 1883; defaults, 1884; W. & L* E# defaults, 1884; many defaults, 1884;
Pa# R.R. earnings, 1884; NKP defaults, 1885; stocks low, 1885; trunk line agreement 1885; London & Paris capital, 1887; C & 0 defaults, 1887; rate wars, 1888;
C.B.& Q. cuts div., 1888J MET defaults, 1888; St# Paul passes div., 1888; Johnstown Flood, .1889; Phila. & Read. comb, formed, 1892; Phila. & Read, defaults,
1893; foreign holdings, 1893; many foreclosures, 1893; Erie, Nor. P a c , U.P., and
Atchison default, 1893; many in receivership, 1894; Norfolk & Western defaults,
1895; B. & 0. passes div., 1895; B. & 0. defaults, 1896; Norf. & West., Atchison,
Erie, Nor. P & c , and Phila. & Read, reorg., 1896; refunding, 1897; bond prices at
all-time high, 1899; ownership of mileage, 1900; U. P. buys So. Pfetc, 1901; Nor.
Pacific corner, 1901; Northern Securities Corp,, 1901; Harriman vs. Hill-Morgan,
1901; new rail securities, 1902; Nor. Sec. suit filed, 1902; smokeless rebates,
1903; adverse decision, 1903; Nor. Securities decision, 1904; death of Jay Cooke,
1905; Harriman buying, 1906; U. P# and So. Pac. boost div*, 1906; Pa. R.R. raises
div., 1906; insolvencies, 1908; U. P. and So. Pfeic. must dissolve, 1912; N.Y., N.H.
& H. passes div., 1913; freight rates raised, 1914 and 1918; freight and passenger
rates raised, 1920; bonds at 45 yr. low, 1920; freight car orders, 1922; passenger
revenue decline begins, 1923; Vans 1 propose merger, 1924; St. Paul defaults, 1925;
bond prices high, 1927; N.Y., N.H.,& H# resumes div., 1928; NYC stock high, 1928;
Atchison raises div., 1928; few defaults, 1928; Alleghany Corp. formed, 1929;
rail bonds low, 1929; Seaboard Airline defaults, 1930; Pa. R.R. cuts div., 1931;
NYC passes div., 1931; Wabash defaults, 1931; rail bonds high and decline, 1931;
rail bonds low, 1932; RFC estab., 1932.




-17-

RAILROADS —Regulat ion
See 18705 111. R.R. Act, 1871; Potter R.Rf law* 1874* adverse decision,
1874; ICC, 1887; 1st meeting of ICC, 1889; pooling illegal, 1897; Elkins Act,- ISOSj
a Hepburn bill, 1905; Hepburn Act, 1906; fines, etc., 1907a MannrElkins Act, 1910*
freight rate cuts ordered, 1910; Escji-Cummins Act, 1920; Vans 1 merger denied, 1926;
0Gallon decision, 1929; Rail Pension Act, 1935.
RAILROADS—Wages, strikes, etc.
See wages, 1861; B. of L.E. formed, 1863; strikes, 1877; II.P. cuts wages,
1884; strikes, 1886; C B . & Q. strike, 1888; wages on NYC, 1890; switchmen's strike,
1892; Pullman strike, 1894; Sherman anti-trust law, 1894; wages high, 1914;
Adamsbn Act, 1916; wages raised, 1918, 1919 and 1920; wages cut 1921 and 1922;
shopmen's strike, 1922; pension act, 1935.
RAILROADS —Mileage (total in U.S.)
See 1865, 1871, 1873, 1880, 1916, 1932,
RAILROADS — N e w construction
See 1867, 1869, 1871, 1875, 1876, 1879, 1880, 1882, 1885, 1887, 1892,
1894, 1895, 1906, 1914.
REAL ESTATE, BUILDING CONSTRUCTION, etc.
Homestead Act, 1862; Land Grant Act, 1862; land-grand lobbies, 1869;
non-automatic sprinklers, 1869; house rent decline, 1869; sand-blasting, 1870;
construction off, 1872; 1st land office in Manitoba, 1873; banks land-poor, 1877;
public-land sales, 1878; Florida booming, 1883; public-land sales, 1886; "unearned
increment", 1886; iron skeleton 1st used, 1886; the Rookery, 1887; Western townlots, 1887; damages from the "El", 1888; Oklahoma openad, 1889; market active,
1890; skyscrapers, 1890; Cherokee strip, 1893; radiator trust, 1899; bath-rooms,
1900; new acreage in S. Dak., 1904; #1 Wall St., 1905; The Traymore, 1906; cor.
Wall & Nassau, 1909; Building and Loan Associations, 1911; Woolworth Bldg.f 1913;
Fed. Farm Loan Banks, 1916; revival, 1919; farm lands, 1920; industry flourishing,
1921; "fair-rent" legislation, 1921; bricklayers1 strike, 1923 and 1926; carpenters'
wages, 1925; speculation, 1925; air-cooling, 1926; activity declining, 1927; public
works, 1930; Empire State Bldg., 1931; Home Loan Act, 1932; HOLC set up, 1933;
Apartment house construction, 1933"; slum elimination, 1934; signs of lifer 1935;
office space in Wash., D.C., 1935.
SHIPPING, OCEAN TRAVEL, etc.
White Star line, 1870; S.S.Oceanic,. 1870; Beth. Steel-Navy contract,
1887; U.S.Navy now 5th in world, 1893; U.S.Shipbldg. Corp., 1903; S.S-Kaiser
Wilhelm, 1903; S.S.Lusitania, 1907; S.S.Imperator, 1912; S.S.Titanic, 1912;
S.S.Vaterland, 1914; S.S.Leviathan, 1914; U.S.Shipping Board, 1916; Shipping board
sells last ships, 1929; S.S.Normandie, 1935.
SPECULATION, Etc.
New York Stock Exchange;
Misc.: Govfc. Sec. listed, 1867; market closed, 1873; reduces commissions,
1877; Saturday noon closing, 1887; stock clearing system, 1892; Saturday



-18-

SPECULATION, etc. (cone.)
closing, 1928; market closed, 1914 and 1933.
Cost of seats: see 1870, 1877, 1879, 1881, 1885, 1929 and 1934.
Volume of trading: see 1866, 1879, 1880, (1st million sh. day) 1886,
1888, 1892, 1893, 1894, 1900, 1901, 1916, 1919, 1929 and 1934.
Miscellaneous:
Daniel Drew, 1868; Black Friday, 1869; 1st holding company, 1870; copper
corner, 1872; R.R. stocks low, 1877; Florida boom, 1883; wheat and
coffee corners, 1887; Western town lots, 1887; French copper syndicate,
1889; Black Wednesday, 1893; Leiter wheat corner, 1898; Standard Oil
dividend, 1900; Northern Pacific corner, 1901; rich man!s panic, 1903;
land prices, 1905; U. S. Steel dividend, 1906; margin trading, 1910;
futures contracts, 1912; non-essential security issues, 1918; new
security issues, 1919; "X" goes over par, 1924; land speculation, 1925;
Pub. Util. holding companies, 1926; ticker late, 1928; new securities
issued, 1929; board rooms on ocean liners, 1929; "X" goes below par,
1931; "truth in securities" Act, 1933.
SPORTS
Curve-ball pitching, 1869; Maud S., 1885; 1st Internat'l yacht races,
1885; golf introd., 1888; football, 1889; Dan Patch, 1903; Cy Young, 1904; 1st
golf-playing President, 1908; Merklels boner, 1908; Jim Thorp, 1912; a big business, 1922; Bobby Jones, 1924; Red Grange, 1925.
STATES and CITIES
Alabama:

steel production, 1887; ratifies XVIth Amendment, 1909*

California: Chinese in, 1861; gold shipments, 1866; Golden Spike, 1869; Bank of
fails, 1875; Dennis Kearney, 1877; So. Pac. completed, 1882; Fruit
growers1 exchange, 1893 and 1907; Holt's tractor, 1903; Hindoos in
,
1910; two expositions, 1915• (also see San Francisco)
Colorado: population of Denver, 1861; admitted, 1876*
Connecticut:

speed law, 1901.

Delaware: state debt, 1864.
Florida: Key West R.R., 1908.
Indiana:

repudiates canal debt, 1873; Gary, 1906*

Iowa:

Anti-monopoly Convention, 1873; Grange harvesters, 1874; cigarettes
legalized, 1921.

Kansas:

admitted, 1861; R.R. mileage in, 1865; adopts prohibition, 1881; price
of coal vs. corn, 1889; 1st antitrust convention, 1889; silk culture,
1889; Populist Party formed, 1890; Mary E. Lease, 1890.




-19-

STATES and CITIES (cont.)
Louisiana:

Sulphur deposits, 1868; two governors, 1873; lottery, 1903; under
dictatorship, 1934.

Maine:

goes Democratic, 1880; inheritance tax law, 1893*

Michigan:

1st horseless carriage, 1885*

Minnesota:

Convention at Mpls., 1892; arrest for speeding, 1902; forest fires,
1910*

Missouri:

Eads1 bridge, 1874; Kans. City Star founded, 1880; Cleveland nominated
at St# Louis, 1884 and 1888; McKinley nominated at St. Louis, 1896;
Bryan nominated at Kans. City, 1900; Louisiana Purchase Expo., 1904*

Montana:

Northern Pac. reaches, 1880; Anaconda mine opened, 1881; Northern
Pac. opened, 1883; admitted, 1889; Great Northern completed, 1893.

Nevada:

admitted, 1864; 1st loco, enters, 1867; borrows © 15$, 1867.

New Jersey:

Paterson becomes silk center, 1871; smokeless powder, 1891; good roads
conv., 1894, (see TRUSTS).

(also see Detroit)*

New Mexico: Archives sold, 1870; admitted, 1912.
N. Dakota:

Nor. Pac. construe• stops, 1873; admitted, 1889; wheat production,
1890.

Oklahoma:

Opened, 1889; Cherokee strip, 1893; population of Tulsa, 1900;
admitted, 1907.

Oregon:

National bank, 1st in, 1865•

Rhode Is.:

Debtors1 prison, 1870; Australian ballot, 1890.

S. Dakota:

1st bank in, 1869; gold discovered, 1874; Homestake Mining, 1877;
admitted, 1889; wheat prod., 1890; new acreage, 1904.

Tennessee:

repudiates state debt, 1879; steel prod, in, 1887; "monkey trial",
1925.

Texas:

Rain-making experiments, 1891; boll weevil, 1892; Oil fever, 1901.

Utah:

Golden Spike, 1869; death of Brigham Young, 1877; admitted, 1896.

Virginia:

makes final settlement for Civil War bonds, 1892.

Washington: admitted, 1889; municipal street railway, 1904.
W. Virginia: loyal, 1861; admitted, 1863; rural free delivery, 1896.
Wisconsin:

Potter R.R. law, 1874; Racine farm wagons, 1880; LaPollette elected,
1884; income tax law, 1911.




-20-

STATES and CITIES (cone)
%oming:
Chicago:

1st train into, 1867; women's suffrage, 18695 Yellowstone National
Park, 1872; anti-Chinese outbreaks, 18855 admitted, 1890.
Train service, 1864; stockyards, 1865; waterworks tunnel, 1866; rail
connections, 1869; population, 1870; the "Great Fire", 1871;
Montgomery Ward, 1872; unemployment, 1873; Palmer House, 1873; B« & 0*
reaches, 1874; Daily News, 1st issue, 1875; bank failures, 1876;
Blaine nominated, 1884; 1st train from Mexico, 1884; largest grain
market, 1884; Anarchist riots, 1886; the "Rookery", 1887; Harrison
nominated, 1888; Cleveland renominated, 1892; World's Fair argument,
1892; 1st "EL" in, 1892; N,Y.-Chicago telephone service, 1892; Univ,
of -— opened, 1892; Columbian Exposition, 1893; Samuel Insull, 1393;
Pullman strike, 1894; Duryea's race, 1895; Bryan nominated, 1896;
.Sears Roebuck estab., 1896; teamsters strike, 1905; Taft nominated,
1912; N#Y#-Chicago air mail, 1918; Harding nominated, 1920; Century
of Progress, 1933-4•

Cleveland:

Population, 1870;.1st electric street car, 1884; three-cent fare,
1907; Coolidge nominated, 1924•

Detroit:

1st street cars in, 1863; population, 1870; 1st telephone exchange in,
1878; concrete road, 1905; Highland Park, 1907; Detroit-Chicago air
freight, 1925.

New York:

Daily mail delivery, 1861; paid fire department, 1865; Ninth Ave. "El",
1866; subway proposed, 1868; travelling time, to San Francisco, 1869;
1st through car, 1870; population, 1870; 30 traction co*s., 1870;
Grand Central, 1871; the "Tweed Ring", 1871; two "El" co f s organized,
1872; bread lines, 1875; 1st "El", 1878; Pearl St. powerhouse, 1881;
N. Y . Steam Corp., 1882; "El" fare, 1884; Consolidated Gas formed,
1884; Statue of Liberty, 1885; Henry George, near-mayor, 1886; carbarn fire, 1887; death of Mr. Astor, 1890; Empire State Express, 1891;
New York-Chicago telephone service, 1892; 9,000 telephone subscribers,
1893$ municipal rapid transit, 1894; 2nd world city, 1898; 1st auto
stable, 1899; 100 taxis, 1899; 1st subway, 1900; 1st auto show, 1900;
Seth Low, 1901; Floradora sextet, 1901; oable cars replaced, 1901;
XXth Century, 1902; S.S .Kaiser Wilhelm, 1903; price of land, 1905 and
1909; 1st double-decked bus, 1906; S.S.Lusitania, 1907; women's
smoking, 1908; 1st Hudson River tunnel opened, 1908; round trip
flight, 1910; Woolworth Bldg«, 1913; N.Y.-San Francisco telephone,
1915; N.Y.-Washington air mail, 1918 and 1925; talkies, 1926; Holland
Tunnel, 1927; Empire State Bldg., 1931; S«S,Normandie, 1935#

Pittsburgh: defaults bond interest, 1878; natural gas introduced, 1884; gets 1st
cable railway, 1888; Andrew Carnegie, 1888.
San Francisco: stock exchange opened, 1862; travelling time from New York, 1869;
1st cable street railv/ay, 1873; panic on stock exchange, 1886; Mooney
and Billings, 1916; Cox nominated, 1920; Bay bridge, 1933.
STREET RAILWAYS

(also see ELECTRICAL)

1st cable street railway, 1863; 1st "El" run, 1878; traction "bosses",
1880; 1st municipal street railway, 1904•



-21-

TARIFFS and DUTIES
Raised 50$, 1864; on wool, 1867; cut, 1872; removed from tea and coffee,
1872;
commission, 1882; "mongrel1* tariff, 1883; sugar gets protection, 1883;
pig iron and iron ore, 1883; Morrison
, 1884 and 1886; Mills
, 1888;
campaign issue, 1888; McKinley — -, 1890; reciprocity, 1890 and 1891; — on tinplate, 1891; Wilson
, 1894; "pop-gun" bills, 1894; Dingley
, 1897;
in
campaign, 1908; Payne bill, 1909; Payne-Aldrich —--* 1909; Canadian Reciprocity,
1911; Underwood ~~, 1913; F. W. Taussig, 1916; Emergency -—, 1931; FordneyMcCuiriber
, 1922; Hawley-Smoot
, 1930; Trade Treaties, 1935.
TAXATION
Income tax? 1st, 1861; Commissioner of Internal Revenue created, 1862; —
raised, 1865; — - collections, 1866; —— cut, 1867; # of — « payers,
1870;
abolished, 1872; -— refunds to states, 1891; new —-, 1894;
held unconstitutional, 1895; XVTth Amendment, 1909; 1st state -—, 1911;
1913; raised, 1916; cut, 1924;
publicity, 1924;
records
n e w —- $
published, 1925; — cut, 1929;
• raised, 1932;
raised, 1935.
Miscellaneous: Manufacturers1 tax, 1862; large incomes, 1863 and 1866;
manufacturers1 tax removed, 1868; "Progress and Poverty", 1879; death
of Henry George, 1887; 1st inheritance tax, 1893; Span* Amer* War taxes
removed, 1902; U. S« inheritance tax bill, 1909; corporation income tax,
1909; inheritance tax levied, 1916; War Revenue Act, 1917; excess profits
tax repealed, 1921; corporation income tax raised, 1921; gasoline taxes,
1922; gift and estate taxes raised, 1924; John D. Rockefeller, Jr.Ts
tax, 1925; "chain" taxes, 1929; million $ incomes, 1929, 1931 and 1932;
processing taxes, 1933; higher state taxes, 1934.
TRUSTS
Nat»l Ass'n of Wool Mfgrs., 1865; Std, Oil, 1882; formation of, 1887;
sugar, cordage, distillers1, 1887; anti-trust planks, 1888; lead, rope, and oil,
1888; match, sewerpipe, strawboard, plug tobacco, pottery, and sweet potato, 1889;
1st anti-trust law, 1889; Sherman Anti-trust Law, 1890; rubber, tobacco, smelting,
cheap novel, coffin, window glass, 1890; sugar, 1890 and 1891; Std. Oil trust
ordered to dissolve, 1892; electric supply, 1892; leather, 1893; "labor" trust,
1894; Supreme Court, 1895 and 1897; Amer. Steel and Wire, 1897; paper, cracker,
thread, silverware, linseed oil, and elevator, 1898; radiator, wool,, copper,
fertilizer, Standard Oil, and cement, 1899; Addyston case, 1899; bicycle, 1899;
New Jersey enabling acts, 1899; steel and gypsum, 1901; Eastman Kodak, 1901;
Northern Securities Corp., 1902; shipping and harvester, 1902; miners1 strike,
1902; panic of T 03, 1903; adverse decision, 1903; Bureau of corporations, 1903;
beef, 1903; piano, 1903; beef prices, 1904; decision, 1904; beef, 1905 and 1906;
the "Jungle", 1906; Std. Oil of N.J., 1907, 1909 and 1911; Std. Oil of Ind., 1907;
harvester, 1907; Std. Oil, 1908; Danbury hatters, 1908; beef, 1910; U. S. Steel,
1911; tobacco, 1911; Union Bac. and So* Pfetc, 1912; Pujo Committee, 1912; bathtub, 1912; A # T.& T., 1913; Reading, harvester, and can, 1913; Clayton Act, 1914;
Federal Trade Commission created, 1914; Webb Act, 1918; U. S r Steel, 1920; PackerStockyards Act, 1921; cement co f s, 1921; Fed. Trade Commission decision, 1924;
see NRA, 1933.




-22-

U»S, MAIL
Delivery in N.Y., 1861; 1st mail car, 1862; money orders, 1864; uniforms
for letter carriers, 1868; fast mail trains, 1875; postage cut to 2^, 1883; 1st
R.F.D. route, 1896; R.F.D. carriers* salaries, 1901; frauds in, 1903; postal
savings, 1910; parcel post, 1913; air mail, 1918; transcontinental air mail, 1920;
night air mail, 1925•
U.S. TREASURE
a. Public debt: see 1861, 1863, 1865, 1882, 1887, 1893, 1905, 1913, 1914,
1916, 1919, 1930, 1934, 1935.
b. Debt reduction: see 1869; 1870, 1873, 1879, 1880, 1888, 1927.
c. Interest on public debt: see 1867,
d. Gov*t securities:
(1) prices or yields: see 1861,
1880,
1917,
1935*
(2) new issues: see 1863, 1865,
1875, 1877,
1917, 1918,

1882, 1920,
1863, 1865, 1870, 1871, 1877, 1879,
1881, 1888, 1894, 1895, 1896, 1898,
1918, 1919, 1920, 1931, 1932, 1934,
1870, 1871, (permitted to secure gold)
1879, 1881, 1894, 1895, 1896, 1898,
1919, 1931, 1934.

e. Surplus: see 1871, 1874, 1881, 1882, 1883, 1885, 1888, 1927*
f. Deficit: see 1893, 1899, 1904, 1908, 1917, 1918, 1919, 1930, 1931, 1932,
1933, 1934.
g. Expenditures: see 1861, 1877, 1919, 1926, (salaries cut), 1933.
h. Receipts: see 1881, 1920.
i. Cash on hand: see 1865.
j. Bank holdings of govft debt:
(1) National Banks: see 1863, 1867, 1877.
(2) Fed. Res. Banks: see 1919, 1922, 1923, 1924, 1927, 1929.
(3) Member Banks: see 1917 and 1919.
k. Miscellaneous: Germans buying U.S. govt. s e c , 1864; 95 separate issues,
1866; listed on H.Y. stock exchange, 1867; payment of govt. sec. in
paper money, 1867; govt. sec. held abroad, 1868; Public Credit Act,
1869; Refunding Act, 1870; tax-exemption, 1870; War Savings Certificates,
1917; Bureau of the Budget, 1921; 91-day Treasury bills, 1929; stabilization fund established, 1934; short-term debt, 1935.
UTILITIES

(also see Electrical)

1st gas pipe line, 1872; Pearl St. powerhouse, 1881; United Gas Improvement Co., 1882; steam turbine invented, 1884; natural gas introduced into
Pittsburgh, 1884; Wellsbach gas mantle, 1885; world's largest gas well, 1889;
Samuel Insull in Chicago, 1893; Interurbans, 1895; Brooklyn Union Gas Co. incorp.,



-23-

UTILITIES

(cone)

1895; ksvh output, 1902; Electric Bond & Share formed, 1905; interurbans in
difficulty, 1919; holding companies popular, 1926; aluminum street cars, 1926;
Muscle Shoals Act, 1928; Boulder Dam Act, 1928; # of gas meters in U # S., 1928;
Texas-Chicago pipe lines, 1931; Mid-West Utilities, 1932; utility profits, 1932;
T V A, 1933; Public Utility Holding Qompany Act, 1935.
WARS
Civil War;
Secessions, 1861; war begins, 1861; Miss. R. blockade, 1861; "Trent"
affair, 1861; Monitor vs. Merrimac, 1862; the South drafts, 1862;
Gettysburg, 1863; Miss. R. reopened, 1863; draft riots, 1863; Gettysburg
address, 1863; the "shoddy aristocracy", 1864; rumors of peace, 1864;
Atlanta falls, 1864; Lee surrenders, 1865; Decoration Day inaug., 1868.
Spanish-American War:
Cuban revolt, 1895; rumors of war, 1897; See War, 1898; treaty ratified,
1899; indemnity payment, 1899.
World War (1914-8):
See 1914; submarine zone, 1915; Lusitania, 1915; Anglo-French loan,
1915; Italy enters, 1915; Bulgaria enters, 1915; U-boat Deutschland,
1916; Rumania enters, 1916; preparedness-day parade, 1916; U.S. enters,
1917; Draft Act, 1917; price-fixing, 1917; War Risk Insurance Act, 1917;
Liberty Loans, 1917-8; Czar abdicates, 1917; Wilson's fourteen points,
1918; War Finance Board, 1918; War Industries Board, 1918; "Big Bertha",
1918; 2nd draft, 1918; Armistice, 1918; treaty submitted, 1919; League
of Nations, 1919; Lodge reservations, 1920.
MISCELLANEOUS NAMES and EVENTS
Pony Express, 1861; "stop and stay" laws, 1861; Hawthorne, death of,
1864; Howe, death of, 1867; Robt. E. Lee, death of, 1870; national wealth, 1870;
silk center of U.S., 1871; Emerson, death of, 1882; Longfellow, death of, 1882;
McCoy-Hatfield feud, 1882; Sitting Bull, death of, 1890; Whittier, death of, 1892;
0. W. Holmes, death of, 1894; record trip around world, 1901; Dr. Wileyfs "poison
squad", 1903; Simplified spelling, 1906; Harry K. Thaw-Stanford White, 1906;
E. P. Vfeston, 1909; "Mark Twain", death of, 1910; Halley f s comet, 1910; Taylorism,
1911; Ponzi, 1920; Wall St. Explosion, 1920; Dr. Coue, 1923; Floyd Collins, 1925;
"Monkey Trial", 1925; Sacco and Vanzetti, 1927; Chas. A. Lindbergh, Jr., death of,
1932; Dionne quintuplets, 1934.




-24-

Of TECHNICAL interests
"What well-known railroad system was ehartered at a time when the U* S«
dollar m s -worth less than 40^?
see 1864.
During what financial c r i s i s were New York Clearing House certificates
f i r s t issued?
see 1873.
What noted development took place with respeot to the silver ratio the
summer that Herbert Hoover was born? see 1874.
For what monetary legislation is the "lame-duck11 session of 1875 famous?
see 1875«
How were industry and business affected by the death of Fres. Garfield?
Fres. HoKinley? Fres, Harding? see 1881, 1901, 1923.
When did the national banks nearly lose their charters because they were
unsympathetic with the TJ. S* monetary policy? see 1882 •
How seriously did the passage of the Interstate Commerce Act react on
railroad construction?
see 1887*
What international syndicate saw its plans frustrated by a coffee
importer in New York City? see 1895.
How long after Bryan's "Cross of Gold11 speech did ifcKinley come out
for the gold standard?
see 1896#
What percentage of the public debt was in the hands of the national
banks at the time the Federal Reserve Act was passed?
see 1913*
What is the customary effect of presidential campaigns on industrial
activity in general? see every four years*
Does the stock market usually anticipate turns in the trend of business?
If sop by how much time? see yearly highs and lows of D.-J. Indus# 1898-1935.
In what 6-month period did Federal Reserve rediscounts triple while
the business activity proceeded at an even keel? see 1928*
What important crop hit its all-time high (in total amount produced)
all of 24 years ago? see 1912 •
What effect did the "bonus" payments have on business in 1931?
(note carefully the date at which they became a certainty)

The answers to these questions can be found on the pages indicated.
This historical manual will also provide the answers to hundreds of others
that may occur to you from time to time*




Of GENERAL interest:
When was the telephone patent offered for sale at §100,000 and who
turned the offer down?
see 1876
What large automobile company was launched just two weeks before the
first Model I!T1! Pord was produced?
see 1908.
In what year did less than 600 votes decide the outcome of a presidential
election?
see 1884*
What parlor entertainment was in vogue in 1863 and 1864?

see 1863 •

What national holiday was created while Coxey*s Army was in Washington?
see 1894*
Who was the first golf-playing President?
What innovation did the first Backards introduce?

see 1908*
see 1900*

What famous battle caused the U.S. to levy an income tax?

see 1861.

What famous railroad terminal was opened while the Chicago fire was
still raging?
see 1871.
What state# in 1890, was exhorted to "raise less corn and more hell",
and by whom?
see 1890.
What well-known chain store system was founded during the long
depression that ended in 1879?
see 1879*
Under what circumstances, in 1887t were some 1200 horses burned to
death in New York City?
see 1887.
What great TLnstitution11 was opened in Chicago, on Christmas Day
in 1865?
What insect pest led to bank failures in a southern state in 1929?
What governmental agency once conducted "rain-making" experiments?
see 1891*
Why was the automobile show in the Pall of 1907 a dismal failure?
see 1907*
What noteworthy motto first appeared on U.S* coins at the very time
when the Southern currency was demoralized by printing press inflation?
see 1864.
In what respect were the Harding election returns unique?

see 1920*

What famous Indian Chief was still alive when the University of Chicago
received its first endowment?
seo 1890.

While this manual
deemed it advisable to
because of their human
parade of events* The




is essentially a financial history, the author
add a generous sprinkling of non-economic items
interest and their value as land-marks in this
above are merely typiqal examples*