Events, Verisoph

c. 1835 Jairam Sewji's firm farms the Zanzibar customs 0 cit. The Kutchi Bhatia merchant house of Jairam Sewji held the lucrative concession to collect the customs of Zanzibar for decades, run on the ground by its agent Ladha Damji. Indian merchant capital and credit underpinned the revenue of the Omani sultanate. This gave a small group of Indian financiers a central place in the coastal economy. diplomacy / economy ●●

31 October 1837 Founding of Procter & Gamble 0 cit. Candle maker William Procter and soap maker James Gamble sign a partnership in Cincinnati. P&G becomes a giant of branded consumer goods and a pioneer of modern advertising, including the first soap operas. culture / economy ●●●

c. 1837 Britain compensates slave owners 0 cit. After abolition Britain paid 20 million pounds to slave owners for the loss of their human property, and nothing to the freed. The enslaved received no compensation and were bound to years of unpaid apprenticeship. economy / politics ●●●

September 1839 to 29 August 1842 First Opium War 0 cit. Britain defeats Qing China in a war triggered by China's suppression of the opium trade. The Treaty of Nanking cedes Hong Kong and opens treaty ports, beginning China's century of humiliation. economy / war ●●●●

1839 to 1842 The First Opium War and the Cession of Hong Kong 0 cit. Britain waged war on China after Chinese officials tried to stop the illegal opium trade run by British merchants. The Treaty of Nanking opened Chinese ports and ceded Hong Kong to Britain. economy / war ●●●●●

1839 to 1842 First Opium War and the Treaty of Nanking 0 cit. Britain went to war after China tried to stop the illegal opium trade, and forced open Chinese ports. The Treaty of Nanking ceded Hong Kong and began a century of unequal treaties and foreign concessions. economy / war ●●●●

3 November 1839 Tanzimat reforms begin 0 cit. The Gülhane edict opens a decades-long push to modernize the empire: equal legal standing for all subjects regardless of religion, a reformed tax and conscription system, secular schools, and new law codes. The Tanzimat tried to hold the empire together by making it more centralized and modern. Results were mixed, and conservative resistance ran deep. economy / politics / society ●●

June 1839 Lin Zexu destroys the opium stocks at Humen 0 cit. The Qing commissioner Lin Zexu confiscates and destroys more than a thousand tons of British opium at Humen. His crackdown was a direct challenge to the trade and gave Britain the pretext for war. economy / politics ●●

1839 The First Opium War and the Treaty of Nanjing 0 cit. Britain goes to war to force China to keep its markets open to opium. The 1842 Treaty of Nanjing ceded Hong Kong, opened treaty ports, and imposed an indemnity, the first of the unequal treaties that pried China open at gunpoint. diplomacy / economy / war ●●●

c. 1839 A global chain of naval bases and coaling stations 0 cit. British forces seized Aden in 1839, one link in a network of bases that came to include Gibraltar, Malta, the Cape, Singapore, Hong Kong, Bermuda, and the Falklands. After steam replaced sail, these ports doubled as coaling stations that let warships and merchantmen refuel anywhere on the globe. The chain tied the empire together and gave the Royal Navy reach into every ocean. economy / technology / war ●●●

1840 Zanzibari rule over the coastal strip 0 cit. Sultan Seyyid Said of Oman moved his capital to Zanzibar in 1840, building a commercial empire on cloves, ivory, and the East African slave trade that ran through coastal Kenya. The Sultan of Zanzibar claimed a ten-mile-deep coastal strip from Lamu to the south, a claim that outlasted the caravan trade and shaped Kenya's borders. Britain would later lease and then absorb this strip as it built its protectorate. economy / politics ●●

1840 Seyyid Said moves the Omani capital to Zanzibar 0 cit. The Omani ruler Seyyid Said shifted his seat from Muscat to Zanzibar and built a plantation economy around cloves. Indian merchant houses advanced the credit that financed the plantations, the customs and the long-distance trade. Their capital made them indispensable to the island's rulers. economy / politics ●●

1840 Seyyid Said Moves His Capital to Zanzibar 0 cit. Sultan Seyyid Said of Oman moved his court from Muscat to Zanzibar in 1840, making the island the centre of an Indian Ocean empire. It was built on cloves, ivory, and slaves. economy / politics ●●

c. 1840 Zanzibar's Clove, Ivory, and Slave Economy 0 cit. Under the Busaidi sultans Zanzibar grew rich on clove plantations worked by slaves and on caravans that carried ivory and captives from the interior to the coast. Indian financiers, especially the customs-master firms, bankrolled the trade. economy / society ●●

c. 1840 Palmerston and gunboat diplomacy 0 cit. As foreign secretary and later prime minister, Lord Palmerston used the threat and use of naval force to open markets and protect British interests and subjects abroad. The practice of sending warships to coerce weaker states became known as gunboat diplomacy. Historians describe this as free-trade imperialism: prying markets open by force while preaching open commerce. diplomacy / economy / politics ●●●

1841 Collapse of the Second Bank of the United States 0 cit. After President Andrew Jackson vetoed its recharter in 1832 and withdrew federal deposits, the bank lost its federal charter in 1836 and continued as a Pennsylvania bank. It fails in 1841, ending America's early experiments with central banking. economy / politics ●●●

29 August 1842 Treaty of Nanking 0 cit. Treaty ending the First Opium War, ceding Hong Kong to Britain, opening five ports, and imposing an indemnity on China. It was the first of the unequal treaties that defined China's century of humiliation. diplomacy / economy / politics / war ●●●●

c. 1844 to c. 1847 Railway mania sweeps Britain 0 cit. A frenzy of investment funded hundreds of new railway lines across the country. Many schemes collapsed when the bubble burst, but the boom built much of the national network. economy ●●●●

1844 First steps toward abolishing Roma slavery 0 cit. Pressure from a reform-minded generation led the principalities to begin freeing Roma slaves in stages during the 1840s, starting with those owned by the state and the church. Writers and activists cast Roma slavery as a national shame that had to end. These partial measures set the ground for full abolition a decade later. economy / politics / society ●●

c. 1845 Rothschilds finance European railways 0 cit. From the 1840s the family funded major railway companies, including the Compagnie du Chemin de fer du Nord in France founded in 1845. Railway finance became a core part of their business across Europe. economy / technology ●●●

c. September 1845 to c. 1852 Great Irish Famine 0 cit. A potato blight destroyed Ireland's staple crop, and roughly one million people died of starvation and disease while the British government's relief response was slow and limited by laissez-faire policy. Ireland continued exporting grain and livestock to Britain during the worst years of the famine. About a million more people emigrated, and Ireland's population fell by a quarter. economy / society ●●●

September 1845 The Great Famine begins 0 cit. A potato blight arrived in autumn 1845 and destroyed the crop that millions of poor Irish depended on. Because a large share of the rural population relied almost entirely on the potato, repeated failures brought mass starvation and disease. The famine that followed became the defining catastrophe of nineteenth-century Ireland. economy / society ●●●

25 June 1846 Repeal of the Corn Laws 0 cit. Britain repeals the tariffs protecting domestic grain, splitting the Conservative Party under Robert Peel. The repeal marks the triumph of free-trade liberalism as British policy. economy / politics ●●●●

c. 1846 Mass emigration and the global Irish diaspora 0 cit. The famine drove a huge wave of emigration, often on overcrowded and disease-ridden vessels remembered as coffin ships. Ireland's population fell from over eight million before the famine to around four million by the early twentieth century, through death and continued emigration. Large Irish communities took root in the United States, Britain, Canada and Australia, forming a diaspora that shaped Irish politics and identity for generations. economy / society ●●●

12 October 1847 Founding of Siemens 0 cit. Werner von Siemens and Johann Georg Halske found a telegraph works in Berlin. The firm builds pioneering telegraph lines, dynamos, and electric railways, growing into Europe's largest electrical engineering company. economy / technology ●●●●

1847 Black '47 and the food export controversy contested 0 cit. 1847, remembered as Black '47, was the worst year of the famine, with deaths from starvation and fever at their peak. Roughly a million people died and a million more emigrated over the famine years. Records show food was still exported from Ireland while people starved, and the British government's laissez-faire response and cuts to relief are widely documented, though economic historians debate how much export volumes mattered against overall food shortfalls. economy / society ●●●

c. 1848 Chicago as the capital of futures trading 0 cit. The Chicago Board of Trade, founded in 1848, standardizes grain futures contracts and makes the city the world center of commodity trading. Financial futures and options invented in the 1970s keep Chicago at the heart of global derivatives markets. economy ●●●

July 1848 Founding of Lazard 0 cit. Three Lazard brothers, immigrants from France, open a dry goods business in New Orleans. The firm follows the gold rush to San Francisco, moves into banking, and becomes a leading independent financial advisory house with branches in Paris, London, and New York. economy ●●●

21 February 1848 Publication of the Communist Manifesto 0 cit. Marx and Engels publish the manifesto of the Communist League, setting out a theory of history driven by class struggle. It becomes the founding text of the communist movement. economy / politics ●●●●●

c. 1849 The great audit firms take shape 0 cit. The firms that would dominate world auditing were founded in Victorian Britain, among them Deloitte, Price Waterhouse, and the partnerships that became Peat Marwick and Coopers. They grew by auditing railways, banks, and industrial companies, then followed their clients abroad. Their global reach later made them the Big Eight, then through mergers and the fall of Andersen the Big Four. economy ●●●

1850 Founding of Lehman Brothers 0 cit. German immigrant brothers Henry, Emanuel, and Mayer Lehman turn their Alabama dry goods store into a cotton trading firm named Lehman Brothers. It moves to New York and evolves into one of Wall Street's major investment banks. economy ●●●

c. 1850 The City of London and Imperial Finance 0 cit. The City of London became the financial center of the world, funding railways, mines, and governments across the empire and beyond. Sterling and British capital tied distant economies to London. economy ●●●●

c. 1850 to c. 1900 The Ruhr becomes Germany's industrial heartland 0 cit. Coal and iron drew steelworks and factories to the Ruhr valley, and firms like Krupp grew large. The region powered Germany's rise as a leading industrial nation. economy / technology ●●●●

4 September 1850 Brazil ends the Atlantic slave trade 0 cit. The Eusebio de Queiros Law of 1850 finally suppressed Brazil's importation of enslaved Africans under heavy British pressure. Slavery within Brazil, however, lasted almost four more decades. economy / politics ●●●

1850 Pinkerton National Detective Agency founded 0 cit. Allan Pinkerton founded the Pinkerton National Detective Agency, which grew into the largest private police force in the United States, providing security, strikebreaking, and undercover investigation services to railroads and industrial employers. Pinkerton agents were involved in violent clashes with striking workers, most notoriously the 1892 Homestead strike, where a gun battle between Pinkerton agents and steelworkers left several dead on both sides. The agency's private, unaccountable use of armed force became a recurring source of controversy in American labor history. economy ●●

c. 1850 German-Jewish immigrants found Wall Street houses 0 cit. German-Jewish immigrants founded investment banks in New York, including Goldman Sachs, Lehman Brothers, Kuhn Loeb, and Speyer, often starting as small merchants and dry-goods traders. These firms grew into important underwriters of American railroads and industry. They were a real and successful group, but they operated alongside far larger non-Jewish institutions and never dominated American finance. economy ●●

c. 1850 The age of caudillos and export economies 0 cit. Through much of the nineteenth century, strongmen known as caudillos dominate politics while new republics tie their economies to exporting a few commodities, from Peruvian guano and Chilean nitrates to Argentine beef and Brazilian coffee and rubber. Dependence on these exports, and on foreign capital and markets, left many countries vulnerable to price swings, a pattern later discussed in debates over the resource curse and dependency. This thread connects to the wider stories on the resource curse and export dependence. economy / politics ●●

c. 1850 The railroads force accounting to grow up 0 cit. Railroads were the first businesses too large and too capital-heavy to run by a merchant's simple cash book. They pioneered ways to account for depreciation of track and rolling stock, to measure cost per ton-mile, and to report to distant shareholders. In his history The Visible Hand, Alfred Chandler argued these accounting tools were what made the modern managed corporation possible. economy / technology ●●●

c. 1850 Indian financiers back the caravans into the interior 0 cit. Banias in Zanzibar advanced goods and credit to the Swahili-Arab caravans that pushed inland to Tabora, Ujiji and the great lakes. The long-distance trade in ivory ran on this Indian capital. The same credit system also financed the East African slave trade, a link historians document plainly rather than pass over. economy ●●

c. 1850 The caravan routes into the interior 0 cit. Long-distance caravans set out from coastal towns like Bagamoyo and Pangani for the deep interior. The main routes ran to Tabora in central Tanzania, on to Ujiji on Lake Tanganyika, and toward Lake Victoria and the eastern Congo. They carried cloth, beads, and guns inland and came back with ivory and enslaved people bound for the coast. economy ●●●

c. 1850 The Nyamwezi porters and traders 0 cit. The Nyamwezi people of central Tanzania were the great porters and caravan organisers of the trade. They carried loads on foot over hundreds of miles and ran their own trading ventures alongside the coastal and Zanzibari merchants. Without Nyamwezi labour and know-how the long-distance traffic in ivory and captives could not have moved. economy / society ●●

c. 1850 Women controlled the food, the farms, and the markets 0 cit. Across the farming societies of Kenya, women did most of the cultivation and controlled the staple food supply, from planting to storage to distribution. Local markets were largely women's ground, where they traded grain, vegetables, and produce and held real economic weight. Control of food gave women leverage over households and communities that men could not easily override. This was practical power, not just labour. economy / society ●●●

c. 1850 Pottery and craft were women's trades 0 cit. Pottery was a women's craft in many communities, including among the Gusii and the Kamba, and skilled potters supplied households across wide areas. Women also made baskets, mats, and other goods that moved through regional trade. These trades gave women their own income and standing, separate from their husbands. The knowledge passed from mother to daughter, keeping the craft and its earnings in women's hands. culture / economy ●●

c. 1850 Women's rights in land and marriage under customary law 0 cit. Under customary systems women held real, if conditional, rights to land through their husbands, fathers, and sons, including guaranteed use of fields to feed their children. Marriage was tied to bridewealth and to obligations that ran both ways, and a wife kept claims of her own within the household. These rights were not ownership in the European sense, but they were secure and recognised. Later land titling in men's names would strip much of this away. economy / society ●●

c. 1850 Iteso organise life around age-classes and mixed farming 0 cit. Iteso society combined crop farming with cattle-keeping and was ordered partly through age-classes and clan ties. Elders held authority in local affairs and ritual. Unlike some neighbours, the Iteso did not build large centralised kingdoms, governing instead through kin and community. economy / society ●

c. 1850 Cattle anchor Kuria economy and status 0 cit. The Kuria combined farming of finger millet, sorghum, sweet potatoes and cowpeas with keeping cattle, sheep, goats and donkeys. Cattle carried deep value as wealth, bridewealth and status, and cattle raiding was woven into their history. Herds remain central to Kuria life and to disputes in the borderland today. economy / society ●

c. 1850 Ilchamus fish Lake Baringo from palm-fibre boats 0 cit. The Ilchamus fished Lake Baringo using small rafts and boats made from doum palm, an activity that set them apart from most livestock-keeping Maa neighbours. Fishing, irrigated grain and herding together supported semi-sedentary settlements around the lake. Under Samburu and Maasai influence the balance shifted more toward pastoralism over time. culture / economy ●

c. 1850 Keiyo work two worlds, valley farms and highland herds 0 cit. The Keiyo built a livelihood that moved between the escarpment top and the valley floor. On the highland they kept cattle and grew grain in the wetter climate, while in the hot Kerio Valley they cultivated with the help of irrigation furrows like those of the neighbouring Marakwet. Moving stock and labour between the zones spread risk against drought. economy / environment ●

October 1851 Founding of Reuters 0 cit. Paul Julius Reuter opens a telegraph office in London transmitting stock prices between London and Paris. His agency becomes one of the world's dominant news services. culture / economy / technology ●●●

October 1851 Reuters news agency founded 0 cit. Paul Julius Reuter opened a telegraph-based news office in London in 1851, transmitting stock prices and news between financial centers. Reuters became one of the dominant global wire services. economy / technology ●●●

1 May 1851 Great Exhibition at the Crystal Palace 0 cit. Prince Albert and Henry Cole organized the first international exhibition of industry and manufactured goods, housed in Joseph Paxton's cast-iron and glass Crystal Palace. Over six million visitors attended in six months, and the fair became the model for the world's fair as a national showcase of industrial power. It set the template later fairs followed: a purpose-built exhibition hall, national pavilions, and displays meant to demonstrate a country's technical and imperial standing. culture / economy ●●●

c. 1852 Toronto as Canada's financial center 0 cit. The Toronto Stock Exchange dates to 1852, and Bay Street gradually displaces Montreal as Canada's financial capital during the twentieth century. The city hosts Canada's major banks and a leading market for mining and energy listings. economy ●●●

18 March 1852 Founding of Wells Fargo 0 cit. Henry Wells and William Fargo found a banking and express company in New York to serve gold rush California, opening for business in San Francisco that summer. It becomes one of the largest banks in the United States. economy / exploration ●●●

c. 1852 Krupp perfects the seamless railway tyre 0 cit. In the early 1850s Krupp developed the seamless steel railway tyre that made the firm's fortune. Three interlocking rings from this product became the company's emblem. economy / technology ●●●

16 April 1853 The First Railways in India 0 cit. India's first passenger railway opened between Bombay and Thane. British-built railways spread across the subcontinent, tying it together for administration, trade, and troop movement. economy / technology ●●●

1853 to 1856 Crimean War and the 'sick man of Europe' 0 cit. Britain and France join the Ottomans against Russia and win, but the war leaves the empire deep in foreign debt. The Russian tsar's reported description of the Ottoman state as the 'sick man of Europe' captured the view that its collapse was only a matter of time and that the great powers were circling its lands. diplomacy / economy / war ●●

31 March 1854 Convention of Kanagawa 0 cit. Treaty concluded under pressure from Commodore Perry's squadron, opening two Japanese ports to American ships and ending two centuries of Japanese seclusion. It began Japan's forced opening to the West. diplomacy / economy / politics ●●●

1854 Scotland charters the first accountants 0 cit. Societies of accountants in Edinburgh and Glasgow received royal charters, the first formal recognition of accountancy as a distinct profession and the origin of the title chartered accountant. Much early work came from bankruptcy and insolvency, untangling the books of failed businesses in an industrializing economy. economy / society ●●●

c. 1855 to c. 1914 Vienna as the Habsburg financial center 0 cit. Banks such as the Creditanstalt, founded in 1855, make Vienna the financial hub of the Habsburg empire and much of central and southeastern Europe. The 1873 stock market crash and then the First World War end its wider role. economy ●●

1855 Limited liability shields investors from ruin 0 cit. Britain's Limited Liability Act lets shareholders risk only what they invest, never their personal fortunes, in a company's failure. This single legal shield unleashed the modern corporation, letting vast capital be pooled for risky ventures. economy / pillar / politics ●●●●

15 May 1855 Exposition Universelle of 1855 0 cit. France's first world's fair, staged on the Champs-Élysées under Napoleon III, paired an industrial exhibition with a separate fine arts exhibition, a format later fairs copied. It was explicitly framed as a rival to London's 1851 exhibition, part of the France-Britain competition to demonstrate industrial and cultural leadership. culture / economy ●●

c. 1855 Cattle raiding and the tribute of fear 0 cit. The Maasai believed their god had given them all cattle, and raiding neighbours for herds was treated as recovery, not theft. Their reach let them tax caravans, demand hongo tribute and hold farming peoples in check. Early European travellers routinely paid to pass and described the Maasai as the terror of the caravan routes. economy / war ●●●

October 1856 to October 1860 Second Opium War 0 cit. Britain and France renew war on Qing China, occupying Beijing and burning the Summer Palace. The treaties legalize opium and force China further open to foreign trade and missionaries. economy / war ●●●

5 July 1856 Founding of Credit Suisse 0 cit. Politician and businessman Alfred Escher founds Schweizerische Kreditanstalt to finance Switzerland's railway network. It grows into Credit Suisse, one of the world's major banks and a pillar of Swiss finance for 167 years. economy ●●●

1856 The Bessemer process for steel 0 cit. Henry Bessemer devised a way to mass produce cheap steel by blowing air through molten iron. Abundant steel built railways, bridges, ships and skyscrapers. economy / technology ●●●●

1856 Bessemer patents his steel converter 0 cit. Henry Bessemer devised a converter that blew air through molten iron to burn off impurities and make steel cheaply. Cheap steel transformed rails, ships, and building. economy / technology ●●●●●

1856 Perkin discovers the first synthetic dye 0 cit. William Perkin accidentally made mauveine, a bright purple dye, from coal tar. His find launched the synthetic dye and organic chemical industries. economy / science ●●●●

1856 to 1860 Second Opium War and the Convention of Peking 0 cit. Britain and France attacked China again, sacked the Summer Palace and imposed further concessions. The war deepened the semi-colonial carve-up of China and legalized the opium trade. economy / war ●●●

1856 Abolition of Roma slavery in the principalities 0 cit. Moldavia in 1855 and Wallachia in 1856 abolished Roma slavery outright, ending roughly five centuries of legal bondage. Freed families often left with little land or means, and many stayed poor and marginal for generations. The abolition is a major event in European history that remains little known outside the region. economy / politics / society ●●●

1856 The Second Opium War and the burning of the Summer Palace 0 cit. Britain and France renew the war to widen their trade rights, and in 1860 their troops loot and burn the imperial Summer Palace in Beijing. The peace treaties legalized the opium trade outright and deepened foreign control over China's economy. diplomacy / economy / war ●●●

15 May 1857 Founding of Banco Santander 0 cit. A royal decree authorizes a bank in the port city of Santander to finance trade with Latin America. Through 20th-century expansion and acquisitions it becomes the largest bank in the eurozone by market value. economy ●●●

4 December 1857 Livingstone preaches Christianity, commerce and civilization 0 cit. In a famous address at Cambridge, the explorer-missionary David Livingstone urged Britain to open Africa through "commerce and Christianity," arguing that legitimate trade would undercut the slave trade. The motto "Christianity, commerce and civilization" became a slogan of the missionary movement. It also framed the mission as a partner of European commercial and imperial expansion. economy / politics / religion ●●

27 August 1859 Drake drills the first commercial oil well 0 cit. Edwin Drake strikes oil at 69 feet using a steam engine and driven pipe, proving that petroleum could be pumped from the ground on purpose. The well set off a drilling rush in western Pennsylvania and marked the birth of the modern oil industry. economy / technology ●●●

23 January 1860 Cobden-Chevalier Treaty 0 cit. Free trade treaty between Britain and France cutting tariffs and pioneering the most-favored-nation clause. It triggered a wave of trade liberalization across Europe. diplomacy / economy / politics ●●●

c. 1860 King Cotton and the American South 0 cit. By 1860 raw cotton grown by enslaved workers was the largest US export and fed textile mills in Britain and the North. The wealth of the South and much of the wider economy rested on this crop. economy / society ●●●●

c. 1860 Leopold's long search for a colony 0 cit. As crown prince and then king, Leopold spent years scouting possible colonies, weighing schemes in places from the Philippines and Formosa to Argentina, Fiji, and parts of Africa. He famously called the sea-borne empires of others a source of wealth and standing that Belgium was missing. Historians treat this restless, decades-long hunt as the documented root of the Congo project, driven by ambition for personal and national stature rather than by any settled plan. economy / politics ●●

c. 1860 Kerosene lamps replace whale oil 0 cit. Refiners learned to distill cheap kerosene from crude oil for lamp fuel, undercutting expensive whale oil almost overnight. Lighting, not fuel for engines, was the first mass market that made oil valuable and drove the early industry. economy / society / technology ●●

c. 1860 Takaungu and the Mazrui slaveholders 0 cit. The Mazrui, an Omani family that had once governed Mombasa before the Busaidi pushed them out, held on as landholders north of the port. Their strongholds at Takaungu and Gazi ran grain and coconut plantations worked by enslaved people. The Mazrui and the Busaidi elite were rivals in politics but partners in the same slaveholding economy. economy / politics ●●

3 March 1861 Emancipation of the Serfs 0 cit. Tsar Alexander II abolished serfdom, freeing tens of millions of peasants from bondage to their landlords. The reform was limited by redemption payments and land arrangements that left many peasants poor and discontented. economy / politics / society ●●●●

1861 Self-Strengthening Movement 0 cit. Reformist officials tried to modernize the military and industry by adopting Western technology while keeping Confucian institutions. The effort produced arsenals and shipyards but did not save the dynasty. economy / technology ●●●

c. 1861 Construction of the New York County Courthouse becomes a vehicle for fraud 0 cit. Construction of a new county courthouse, later known as the Tweed Courthouse, began with an authorized budget of a few hundred thousand dollars. Under the Tweed Ring's control of city contracts, costs were inflated through padded bills and kickbacks to contractors and officials, and the building was still unfinished years later at many times its original budget. economy / politics ●●●

1861 Malindi refounded as a plantation town 0 cit. Malindi had stood in ruins for generations when Sultan Majid of Zanzibar had it resettled from 1861. Settlers laid out large grain estates on the fertile land behind the town and stocked them with enslaved labour. Within two decades Malindi had become one of the most productive plantation districts on the whole coast. economy / society ●●●

1862 Founding of Standard Bank 0 cit. The Standard Bank of British South Africa is chartered in London in 1862 and opens its first branch in Port Elizabeth in 1863, financing the Eastern Cape wool trade. It grows into Africa's largest banking group by assets. economy ●●●

1862 Founding of UBS 0 cit. The Bank in Winterthur is founded to serve Swiss trade and industry, the earliest root of the Union Bank of Switzerland. The 1998 merger of Union Bank of Switzerland with Swiss Bank Corporation creates UBS, the world's largest wealth manager. economy ●●●

15 May 1862 Founding of the Department of Agriculture 0 cit. Abraham Lincoln signs the act creating an agriculture department, which he later calls the people's department in a nation of farmers. It gains cabinet rank in 1889 and grows into a vast science, food, and rural-policy agency. economy / society ●●●

1 July 1862 Founding of the IRS and the First Income Tax 0 cit. To finance the Civil War, Lincoln signs the Revenue Act of 1862, creating the office of Commissioner of Internal Revenue and a national income tax. The wartime tax lapses but the bureau survives as the Internal Revenue Service. economy / war ●●●

1862 The United States greenback 0 cit. To finance the Civil War, the Union issued paper notes called greenbacks that were legal tender but not redeemable in gold. They marked a major move toward government-issued paper money in the United States. economy / politics / war ●●●

1862 The Morrill Act creates land-grant colleges 0 cit. The Morrill Act of 1862 gave states federal land to fund colleges teaching agriculture and engineering. It opened higher education to far more Americans and built many state universities. economy / politics ●●●

1 August 1863 Founding of Bayer 0 cit. Friedrich Bayer and Johann Weskott found a dye factory in Barmen. The company moves into pharmaceuticals and in 1899 trademarks aspirin, one of the most widely used drugs in history. economy / science ●●●

1863 Naples branch of the Rothschild bank closes 0 cit. The Naples house wound down in 1863 as Italian unification ended the states it had served. It was the first of the five branches to close. economy / politics ●●

4 May 1864 Founding of Société Générale 0 cit. Napoleon III authorizes Societe Generale to promote the development of commerce and industry in France. It becomes one of France's three great banks and a major international lender. economy ●●●

3 March 1865 Founding of HSBC 0 cit. The Hongkong and Shanghai Banking Corporation opens in Hong Kong to finance trade between Asia, Europe, and North America. It becomes one of the world's largest banks and the dominant financial institution of East Asian trade. economy ●●●●

6 April 1865 Founding of BASF 0 cit. The Badische Anilin- und Sodafabrik is founded to make synthetic dyes on the Rhine. It later industrializes the Haber-Bosch process for synthetic ammonia and becomes the world's largest chemical company. economy / science ●●●

12 May 1865 Founding of Nokia 0 cit. Mining engineer Fredrik Idestam wins a permit for a wood pulp mill in Tampere, Finland. The paper company later diversifies and, more than a century on, becomes the world's largest mobile phone maker. economy / technology ●●●

5 July 1865 Founding of the Secret Service 0 cit. The Treasury creates the Secret Service to suppress rampant counterfeiting, at a time when perhaps a third of circulating currency was fake. After President McKinley's assassination in 1901 it takes on full-time protection of the president. economy / politics ●●●

1865 The Siemens-Martin open-hearth process is developed 0 cit. The open-hearth furnace, drawing on the Siemens regenerative design and the Martin brothers' work, made large batches of steel from scrap and pig iron. It gave finer control than the Bessemer converter and came to dominate steelmaking. economy / technology ●●●●

c. 1865 Pennsylvania authorizes private Coal and Iron Police 0 cit. Pennsylvania law allowed railroad and coal companies to commission their own private police forces, known as the Coal and Iron Police, with full state arrest powers paid for and controlled by the companies themselves. Labor organizers and their allies attacked the arrangement for decades as company-funded law enforcement used to break strikes and intimidate union organizers, and the force was eventually abolished by the state legislature in 1935. economy / politics ●●

5 July 1865 US Secret Service founded to fight counterfeiting 0 cit. The Secret Service was created within the Treasury Department to combat the widespread counterfeiting of US currency that followed the Civil War, when as much as a third of circulating money was estimated to be fake. Protecting the president was not yet part of its mission; that role developed gradually over the following decades. economy / politics ●●

10 May 1866 Collapse of Overend, Gurney and Company 0 cit. London's greatest discount house suspends payments with debts of about 11 million pounds, triggering a panic remembered as Black Friday. The crisis shapes the doctrine, later articulated by Walter Bagehot, that the Bank of England must act as lender of last resort. economy ●●●●

1866 Founding of Nestle 0 cit. The Anglo-Swiss Condensed Milk Company opens in 1866, and Henri Nestle launches his infant food in Vevey the next year. The merged company becomes the world's largest food and drink business. economy ●●●