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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*