Events, Verisoph

1930 Schacht resigns from the Reichsbank ai_extracted 1 cit. no story On March 7, 1930, Schacht announced his resignation as Reichsbank president, declaring he would become a country squire and raise pigs. He left over his opposition to the Young Plan's revisions. ●●

1930 Nazis surge in the 1930 Reichstag elections ai_extracted 1 cit. no story In the September 1930 elections, called two years early amid the deepening depression, the Nazis won 6.4 million votes and 107 seats, vaulting into second place. The result panicked financial markets and drained German reserves. ●●

1930 Germany and Austria announce a customs union ai_extracted 1 cit. no story In March 1930 Germany and Austria announced plans for a customs union. France and the Czechs, fearing it was a step toward Anschluss, worked to block it, tangling the later banking crisis in politics. ●●

1930 ” —Albert Wiggin, chairman of Chase National Bank, January 13, 1930 THE 193... rejected ai_extracted 1 cit. no story ” —Albert Wiggin, chairman of Chase National Bank, January 13, 1930 THE 1930S BEGAN ON THE FALSE NOTE OF ECONOMIC SECURITY WITH WHICH the political-financial alliance had capped... ●●

1930 On May Day 1930, he declared to the nation, “We have now passed the worst a... rejected ai_extracted 1 cit. no story On May Day 1930, he declared to the nation, “We have now passed the worst and with continued unity of effort we shall rapidly recover.”3 His statement wound up foreshadowing a... ●●

1930 ITT buys majority of the Chile Telephone Company ai_extracted 1 cit. no story In 1930, when ITT was a cuttingedge telecommunications firm, it bought a majority share of the British-owned Chile Telephone Company, and with it cont (1930) ●●

1930 Soviet state forces collectivization on the peasantry ai_extracted 1 cit. no story Between early 1930 and 1934, the Soviet state conducted a massive campaign against rural peasants. Stalin dispatched twenty-five thousand Communist activists to force collectivization, resulting in unprecedented death tolls and social destruction. ●●

1930 Stalin's Destruction of Private Agriculture rejected ai_extracted 1 cit. no story Stalin destroyed the private agricultural sector that had thrived in the 1920s through forced collectivization in 1930. Rural populations responded with determined resistance and rebellion. ●●

1930 Between 1930 and 1980, social transfers in Britain had risen from just 2. rejected ai_extracted 1 cit. no story Between 1930 and 1980, social transfers in Britain had risen from just 2. ●●

1930 Grenfell, December 13 and 30, 1930 rejected ai_extracted 1 cit. no story 14. MGR, Box 264, J. P. ●●

1930 Morgan rescues Kidder Peabody ai_extracted 1 cit. no story In 1930, Kidder Peabody faced multiple financial blows including a $8 million Italian government deposit withdrawal and instructions from the Bank for International Settlements to switch funds to Swiss banks, prompting a Morgan-coordinated rescue. ●●

1930 Morgan banks issue the Young Loan ai_extracted 2 cit. Morgan banks participated in the Young Loan of 1930, another major German reparations financing that would become problematic under Nazi default threats. ●●

1930 In October 1930, Max sailed to New York to discuss the... (1930) rejected ai_extracted 1 cit. no story In October 1930, Max sailed to New York to discuss the elections and the economic crisis with his brothers. ●●

1930 In 1930, he told historian Alfred Vagts that a German war... (1930) rejected ai_extracted 1 cit. no story In 1930, he told historian Alfred Vagts that a German war against Russia would solve internal German problems and crises.28 In the Warburg debate over Hitler’s future, Siegmund would later symbolize the pessimistic, far-sighted view of events. ●●

1930 1930 Economic rejected ai_extracted 1 cit. no story Furthermore, a heavy proportion of the Japanese population remained in small-plot agriculture, and these groups suffered not only from rising rice imports from Taiwan and Korea, bu... ●●

1930 13. FW. B266 F11, letter from Max Warburg rejected ai_extracted 1 cit. no story 13. FW. B266 F11, letter from Max Warburg, September 21, 1930. ●●

1930 31. MMW Ka IV, letter from Siegmund to rejected ai_extracted 1 cit. no story 31. MMW Ka IV, letter from Siegmund to Karl Warburg, August 25, 1930. ●●

1930 Collectivization famines strike Ukraine and Kazakhstan ai_extracted 1 cit. no story The industrialization and collectivization drives of the early and mid-1930s generated massive famines and millions of deaths in Ukraine and Kazakhstan. ●●

1930 Germans obsessed with lebensraum in 1930s rejected ai_extracted 1 cit. no story In the 1930s German obsession shifts from visual encirclement concern to claustrophobia from radio implosion compressing space ●●

1930 Consistent with Martin Klaproth’s inspiration in 1789 to link his discovery of a rejected ai_extracted 1 cit. no story Consistent with Martin Klaproth’s inspiration in 1789 to link his discovery of a new element with the recent discovery of the planet Uranus and with McMillan’s suggestion to extend the scheme to Neptune, Seaborg would name element 94 for Pluto, the ninth planet outward from the sun, discovered in 1930 and named for the Greek god of the underworld, a god of the earth’s fertility but also the god of the dead: plutonium. ●●

1930 to organize a group of acquaintances, most of them young physicists, to begin the work of banding to rejected ai_extracted 1 cit. no story to organize a group of acquaintances, most of them young physicists, to begin the work of banding together. ●●

1930 and named for the Greek god of the underworld, a god of the earth’s fertility but also the god of th rejected ai_extracted 1 cit. no story and named for the Greek god of the underworld, a god of the earth’s fertility but also the god of the dead: plutonium. ●●

1930 1930: effect could influence current in a semiconductor. But in their resear rejected ai_extracted 1 cit. no story effect could influence current in a semiconductor. But in their research the lawyers discovered that a patent had been granted in 1930 to a little-kno ●●

1930 Information history in 1930 rejected ai_extracted 1 cit. no story e system, as opposed to the book. In PM, mathematics had been contained—a ship in a bottle, no longer buffeted and turned by the vast unruly seas. ●●

1930 on.”44 A statistical approach to otherwise intractable physi rejected ai_extracted 1 cit. no story “It will be possible to answer most questions of this type by performing the actual statistical experiment: by computing hundreds or thousands of spec ●●

1930 Einstein abandons his unified field theory ai_extracted 1 cit. no story Within a year of his 1929 announcement, Einstein abandoned his unified field theory after Wolfgang Pauli and other physicists criticized it. Over the next decade he would attempt multiple revised versions, each similarly unsuccessful. ●●

1930 Event of 1930 rejected ai_extracted 1 cit. no story When Pius XI condemned Mal- thusianism and eugenics in 1930, insisting that the patriarchal family was more sacred than the state, he, like every pope ●●

1930 sh of 1929. As breadlines stretched across American rejected ai_extracted 1 cit. no story sh of 1929. As breadlines stretched across American cities, the economic crisis also crippled the German economy.56 German eugenicists needed all the financial assistance they could get. In August of 1930, Germany’s Archiv for Rassen- und Gesellschaftsbiologie ran a tribute to Ploetz on his seventie ●●

1930 s Archiv for Rassen- und Gesellschaftsbiologie ran a rejected ai_extracted 1 cit. no story s Archiv for Rassen- und Gesellschaftsbiologie ran a tribute to Ploetz on his seventieth birthday. Among those extending kudos were Davenport and Popenoe on behalf of the United States. In October of 1930, Eugenical News called the edition “a worthy tribute of esteem and affection for the genial and ●●

1930 and his indefatigable propaganda activity in America, there rejected ai_extracted 1 cit. no story and his indefatigable propaganda activity in America, there exist, since the end of the twenties, in several states of America, sterilization laws and we can report about 15,000 sterilizations until 1930, mainly in California. Professor Laughlin is one of the most important pioneers on the field of ●●

1930 epared a crestfallen lead story for the September rejected ai_extracted 1 cit. no story epared a crestfallen lead story for the September 1946 edition of Eugenical News. His confession-like epistle, “Eugenics and Modem Life: Retrospect and Prospect,” admitted everything. “The ten years, 1930 to 1940 marked a major change in eugenic thinking,” Osborn began. “Before 1930, eugenics had a ●●

1930 s. His confession-like epistle, “Eugenics and Modem Life: rejected ai_extracted 1 cit. no story s. His confession-like epistle, “Eugenics and Modem Life: Retrospect and Prospect,” admitted everything. “The ten years, 1930 to 1940 marked a major change in eugenic thinking,” Osborn began. “Before 1930, eugenics had a racial and social class bias. This attitude on the part of eugenists was not ba ●●

1930 . 303, footnote 10. Copperplate prepared for Biometrika, rejected ai_extracted 1 cit. no story . 303, footnote 10. Copperplate prepared for Biometrika, circa 1888, at www.mugu.com. 25. Karl Pearson, The Life, Letters, and Labours of Francis Galton (Cambridge: Cambridge at the University Press, 1930), Vol. I, p. 232 . Galton, Memories of my Life, p. 315. 26. Pearson, Vol. II, p. 340. 27. Galto ●●

1930 .: National Academy of Science, 1921. Yerkes, Robert rejected ai_extracted 1 cit. no story .: National Academy of Science, 1921. Yerkes, Robert M. “Autobiography of Robert Mearns Yerkes.” in Carl Murchison, ed., History of Psychology in Autobiography. Worcester, MA: Clark University Press, 1930. Zangwill, Israel. “The Melting Pot: Drama in Four Acts.” New York: The Macmillan Company, 1909 ●●

1930 Argentina's 'infamous decade' follows 1930 coup ai_extracted 1 cit. no story The period following the 1930 coup is known in Argentina as the “infamous decade,” in which a series of military men turned politicians tried to rule the country through electoral fraud, repression, and outright illegality. ●●

1930 Those conservative parties that failed to adapt to these new conditions of electoral politics were t rejected ai_extracted 1 cit. no story Those conservative parties that failed to adapt to these new conditions of electoral politics were tempted to resort to nondemocratic methods for preserving their power, like the Argentine coup of 1930 (see chapter 18 above). ●●

1930 On the conference, see “Preliminary Conference on a Popula- tion Association for the United State... rejected ai_extracted 1 cit. no story On the conference, see “Preliminary Conference on a Popula- tion Association for the United States,” December 15, 1930; “Second Conference of the Population Association of America,” May 7, 1931; To... ●●

1930 Stalin purges the Soviet officer corps ai_extracted 1 cit. no story This control was cemented in the bloody purges of the 1930s, when a quarter to a half of the officer corps were purged by Stalin. ●●

1930 The constitution adopted by the Federal Republic of Germany in 1949 differed in significant ways fro rejected ai_extracted 1 cit. no story The constitution adopted by the Federal Republic of Germany in 1949 differed in significant ways from the constitution of the Weimar Republic, precisely because Germans had learned from the failure of democracy during the 1930s. ●●

1930 Democratic political systems have faced such crises in the past, notably during the 1930s when they rejected ai_extracted 1 cit. no story Democratic political systems have faced such crises in the past, notably during the 1930s when they fell into economic depression and were challenged by alternative fascist and communist competitors, or again in the 1960s and ’70s, when they were des ●●

1930 Japan’s Quest for Autonomy: National Security and Foreign Policy, 1930–1938 rejected ai_extracted 1 cit. no story Japan’s Quest for Autonomy: National Security and Foreign Policy, 1930–1938. ●●

1930 Board of Education and, 471–72; franchise and, 140, 414, 419–20, 422 agrarian societies, 187, 188, rejected ai_extracted 1 cit. no story Board of Education and, 471–72; franchise and, 140, 414, 419–20, 422 agrarian societies, 187, 188, 259, 410, 416, 447, 527–29; shift to industrial societies from, 47, 101, 131, 150, 188–89, 436–37 Aitken, James, 175 Akita, George, 343–44, 352 Ala ●●

1930 By the’spring of 1930 he had resigned and thrown in his lot with the forces now gathering on the ext rejected ai_extracted 1 cit. no story By the’spring of 1930 he had resigned and thrown in his lot with the forces now gathering on the extreme right of German politics, who were bitterly opposed to any further financial cooperation with Germany’s former enemies. ●●

1930 Two books later he had established himself as a leading, young ideologue of the right, with close li rejected ai_extracted 1 cit. no story Two books later he had established himself as a leading, young ideologue of the right, with close links to the nationalist coven known as the Artamanen.’’ Darré was introduced to Hitler in 1930, through mutual friends in Thuringia, and joined the Naz ●●

1930 Skidmore, Politics in Brazil, 1930-1964: rejected ai_extracted 1 cit. no story Skidmore, Politics in Brazil, 1930-1964: An Experiment in Democracy (Oxford University Press, New York, 1967) p ●●

1930 War or conflict rejected ai_extracted 1 cit. no story In 1930, Paul Warburg wrote a massive book—1750 pages in all—entitled The Federal Reserve System, Its Origin and Growth ●●

1930 All 4—Pittsburgh Plate Glass, American Window Glass, Lehigh Portland Cement, and... rejected ai_extracted 1 cit. no story All 4—Pittsburgh Plate Glass, American Window Glass, Lehigh Portland Cement, and Atlas Portland Cement—continued to lead their industry for decades, although the last operated as an autonomous subsidiary of United States Steel after 1930 ●●

c. March 1930 Weimar Germany's Article 48 sets the precedent for rule by emergency decree 1 cit. As the Weimar Republic's parliament becomes gridlocked, Chancellor Heinrich Bruning increasingly governs through Article 48 of the constitution, which allows the president to issue emergency decrees without parliamentary approval. Historians and democratic-backsliding scholars treat this normalization of emergency decree power, three years before the Enabling Act, as a crucial documented step that weakened parliamentary habits before the Nazi seizure of power. politics ●●●

c. June 1930 Libyan Concentration Camps Established 1 cit. Italian authorities forcibly marched tens of thousands of Cyrenaican Bedouin, along with their surviving livestock, hundreds of kilometers to a string of concentration camps at El Agheila, Soluch, Sisi Ahmed el Magrun, and other sites. Conditions in the camps were severe, with little food, poor sanitation, and forced labor. Historians estimate that of a Cyrenaican population of around 225,000, roughly 40,000 to over 70,000 died in the camps and during the deportation marches, figures still debated by Italian and Libyan historians. society / war ●●●

14 September 1930 Nazi breakthrough in the 1930 Reichstag election 1 cit. Amid the Depression the Nazi Party jumps from 12 to 107 seats, becoming the second-largest party in the Reichstag. The vote turns Hitler's movement from a fringe group into a major force in German politics. politics ●●●

1930 The Kakamega Gold Rush Breaks the Reserve Pledge 4 cit. When gold was found at Kakamega in the Luhya reserve around 1930, the government rushed to amend the Native Lands Trust Ordinance so prospectors and mining companies could enter land that had been promised to Africans for good. The change stripped the so-called protection of the reserves the moment that land became valuable to Europeans. It exposed the hollowness of colonial guarantees and stands as a plain case of one law for the settler and another for the African. economy / politics ●●

c. 1930 Mission Ethnography and the Making of Moral Ethnicity contested 1 cit. Missionaries and officials wrote the dictionaries, grammars, and customary-law codes that pinned each community to one language, one custom, and one bounded culture, deepening the lines colonial administration had drawn. The historian John Lonsdale distinguished a community's own moral ethnicity, its inward argument about virtue and belonging, from the divisive political tribalism that colonial rule and the scramble for resources encouraged. Divide-and-rule set community against community, a hardened tribalism that still shapes Kenyan politics, and this reading is an interpretation historians debate rather than settled fact. culture / politics / society ●●●

c. 1930 The pastoralists bypassed by schools and development 5 cit. Missionaries and the government concentrated schools, clinics, and cash-crop projects in the farming highlands and around the lake, leaving the pastoralist districts almost untouched. Herders entered independence with the lowest literacy and the fewest services in the country. The gap was less about distance than about a choice to invest where returns for the colony looked highest. economy / society ●●

1930 The Female Circumcision Crisis and the Kijabe Murder ai_extracted 1 cit. Protestant missions' campaign to ban clitoridectomy split Kikuyu Christian congregations in the late 1920s. The crisis came to a head in January 1930 when an elderly woman missionary was murdered at the African Inland Mission headquarters at Kijabe, hastening the growth of independent Kikuyu schools and churches. ●●

c. 1930 Colonial forest reserves cut the Ogiek off from the Mau 4 cit. British forest and game policy gazetted much of the Mau as protected reserve and treated the resident Ogiek as squatters with no title. Restrictions on hunting and residence began to sever the community from the resources they had always used. The state did not recognise the Ogiek as a distinct people with land claims. environment / politics / society ●●

c. 1930 One label for many unrelated forager peoples 2 cit. The Dorobo label covered peoples as distinct as the Okiek of the Mau, the Yaaku of Laikipia, and other small hunting bands, who spoke languages from different families. Their shared feature was a foraging economy, not common descent. Grouping them together obscured real differences in origin and speech. culture / society ●

c. 1930 The Yaaku shift from Cushitic foragers to Maa-speaking pastoralists 2 cit. Between about 1925 and 1936 the Yaaku moved into the orbit of Maa-speaking pastoralists, taking up cattle, Maasai custom, and the Maa language. They came to call themselves Mukogodo Maasai, and Yaakunte was pushed aside within a generation. The change was driven by the prestige and bridewealth economy of their cattle-keeping neighbours. culture / economy / society ●●●

1930s Japanese military fitness survey of the early 1930s ai_extracted 1 cit. A countrywide survey conducted by the Japanese military in the early 1930s found a high percentage of young men physically unfit for military service due to malnutrition, disease, and job-induced disabilities. ●●

1931 Manchuria placed under direct army rule ai_extracted 1 cit. Manchuria had been under direct Japanese army rule since 1931 and served as the testing ground where planners experimented with the prototype of the mobilized war economy before implementing it in Japan. ●●●

1931 Balfour Declaration of 1926 and the Statute of Westminster, 1931 ai_extracted 1 cit. no story The equal-partnership principle for the dominions was restated in the Balfour Declaration of 1926 and made law as the Statute of Westminster in 1931. ●●

1931 Credit-Anstalt collapse triggers European banking crisis (May 8, 1931) ai_extracted 1 cit. no story On May 8, 1931, the Rothschild-controlled Credit-Anstalt, dominant in Austrian industry, announced heavy losses; the ensuing run spread to German and London banks and forced Britain off gold. ●●

1931 Britain suspends the gold standard, 1931 ai_extracted 1 cit. no story On September 18, 1931, New York and Paris refused further credits to the British Treasury, and three days later Britain suspended the gold standard. The bank rate still stood at only 4.5 percent. ●●

1931 Largest bank in Austria collapses ai_extracted 1 cit. no story In 1931 the largest bank in Austria collapsed, unable to liquidate its assets fast enough to meet claims. The Austrian debacle spread the banking panic to Germany. ●●

1931 Famine during Soviet collectivization, 1931-1933 ai_extracted 1 cit. no story Because the government seized food to feed the cities, at least three million peasants starved in 1931-1933. Stalin later told Churchill that twelve million peasants died in the reorganization of agriculture. ●●

1931 Harzburg Front alliance ai_extracted 1 cit. no story On October 11, 1931, the Nazis, Nationalists, the Stahlhelm, and the Junker Landbund formed the reactionary Harzburg Front, ostensibly against Communism but really part of intrigues to seize power. ●●

1931 Quigley: bank directors raised to the peerage, 1931-1939 ai_extracted 1 cit. no story Quigley cites that in the eight years 1931-1939 thirteen directors of the Big Five banks and two directors of the Bank of England were raised to the peerage by the Conservative government, as evidence of finance's political reward. ●●

1931 Quigley: the 1931 crisis revealed the power of the bankers ai_extracted 1 cit. no story Quigley argues the 1931 National government crisis exposed both the incapacity of the Labour Party and the power of the bankers, who privately insisted budgets be balanced by cutting relief rather than by taxation. ●●

1931 National government wins the 1931 election ai_extracted 1 cit. no story After forcing Britain off gold, the National government called an October 1931 election it won overwhelmingly, with 458 members supporting it and only 56 in opposition. ●●

1931 End of financial capitalism in Britain (Invergordon mutiny) ai_extracted 1 cit. no story Quigley marks 1931 as Britain's turning point from financial to monopoly capitalism. He argues the decisive blow was the naval mutiny at Invergordon on 15 September 1931, not the abandonment of gold six days later. ●●

1931 Paribas's control over French corporations ai_extracted 1 cit. no story Quigley argues French investment banks held industry through interlocking directorships. In 1931 Paribas held securities of 357 corporations and its directors held 180 directorships in 120 of the most important. ●●

1931 Collapse of the collective security structure ai_extracted 1 cit. no story Quigley argues the collective security structure built after 1919 was destroyed completely in the eight years after 1931 under the assaults of Japan, Italy, and Germany. ●●

1931 Japanese seizure of Manchuria ai_extracted 1 cit. no story The Japanese army independently seized Manchuria in the autumn of 1931, an action the civilian leaders had to condone. China was set up as a Japanese protectorate under the former emperor Henry P'ui. ●●

1931 Stimson Doctrine of non-recognition ai_extracted 1 cit. no story Quigley cites the 1931 Stimson Doctrine as a shift from recognizing states by their ability to keep order to a subjective approval of their form of government. ●●

1931 Ramsay MacDonald forms the National Government ai_extracted 1 cit. no story MacDonald secretly negotiated with Baldwin and the King and emerged as Prime Minister of a Conservative-backed government, splitting the Labour Party. Quigley asserts the Milner Group played a secret role in the 1931 intrigue. ●●

1931 Quigley: Milner Group controls the 1931 League Assembly delegation ai_extracted 1 cit. no story Quigley asserts the Group's grip on Britain's League representation was most complete at the Twelfth Assembly, when all five British delegates were Group members or close associates. ●●

1931 John Childs writes on experimentalism and China, 1931 ai_extracted 1 cit. no story Gatto quotes a 1931 Columbia Teachers College text by John Childs describing how Dewey's ideas influenced China's 'New Thought Tide.' ●●

1931 Montagu Norman's nervous breakdown revealed ai_extracted 1 cit. no story On 15 August 1931, at the peak of the world financial crisis, the Bank of England announced that its governor, Montagu Norman, had abandoned all work and gone abroad. In truth he had suffered a nervous breakdown as Europe's banking system neared collapse. ●●

1931 Hoover declares a one-year debt and reparations moratorium ai_extracted 1 cit. no story As the 1931 crisis deepened, President Herbert Hoover suspended all payments of war debts and reparations for a year. It was an attempt to relieve pressure on Germany and the collapsing European banking system. ●●

1931 Collapse of Austria's Creditanstalt ai_extracted 1 cit. no story In May 1931 Austria's largest bank, the Rothschild-owned Creditanstalt, closed its doors. Its failure helped trigger the wider European banking panic of that summer. ●●

1931 Norman floats an international bank plan ai_extracted 1 cit. no story At the February 1931 BIS meeting in Basel, Norman proposed a large international bank to channel gold-rich French and American money to countries needing capital. Neither France nor America would back it. ●●

1931 Norman's “secret mission” to America ai_extracted 1 cit. no story In March 1931 Norman sailed to the United States on a heavily publicized mission to seek support against the Depression. He returned empty-handed after Morgan and the New York Fed rejected his schemes. ●●

1931 Bank runs resume in Chicago ai_extracted 1 cit. no story In May 1931 bank runs resumed as a Chicago suburban real estate bubble collapsed, sweeping away thirty banks with $60 million in deposits. The panic soon spread to Toledo and beyond. ●●

1931 Norman predicts the wreck of capitalism ai_extracted 1 cit. no story In spring 1931 Norman wrote to Banque de France governor Moret foreseeing the collapse of the capitalist system within a year, and asked that the prediction be filed for reference. It was shrugged off as his usual gloom. ●●

1931 Schacht meets Hitler ai_extracted 1 cit. no story On January 5, 1931, Goring brought Schacht and industrialist Fritz Thyssen to meet Hitler at his Berlin apartment. Schacht came away impressed, a fateful step toward his alliance with the Nazis. ●●

1931 Failure of the Credit Anstalt ai_extracted 1 cit. no story On May 8, 1931, Austria's largest and most reputable bank, the Vienna Credit Anstalt founded by the Rothschilds in 1855, revealed a $20 million loss that wiped out most of its equity. Its failure set off the chain of events that turned the slump into the Great Depression. ●●

1931 Lamont proposes a debt moratorium to Hoover ai_extracted 1 cit. no story On June 5, 1931, Morgan partner Thomas Lamont phoned President Hoover urging him to declare a one-year holiday on all war debt and reparations payments. Only the United States, he argued, could take the lead. ●●

1931 Bruning's provocative austerity manifesto ai_extracted 1 cit. no story On June 5, 1931, Chancellor Bruning unveiled fresh austerity measures alongside a manifesto declaring Germany at the limit of its endurance and demanding relief from reparations. Its confrontational tone alarmed Washington. ●●

1931 Hoover announces the debt moratorium ai_extracted 1 cit. no story On June 20, 1931, Hoover publicly proposed forgiving a year of war-debt payments if the Allies suspended German reparations. The German stock market jumped 25 percent the following Monday. ●●

1931 Nordwolle wool combine collapses ai_extracted 1 cit. no story On June 17, 1931, the German wool combine Nordwolle declared bankruptcy with $50 million in concealed losses from speculating on wool prices. Its failure exposed the German banks tied to it. ●●

1931 Danatbank cannot meet its liabilities ai_extracted 1 cit. no story On July 8, 1931, Jacob Goldschmidt told the Reichsbank that his Danatbank, Germany's third largest, could not meet its obligations. It was the trigger for the collapse of the German banking system. ●●

1931 France's political conditions for a German loan ai_extracted 1 cit. no story On July 10, 1931, France offered Germany up to $300 million only if it abandoned the Austrian customs union, halted two pocket battleships, and curbed nationalist demonstrations. Germany rejected the terms as political blackmail. ●●

1931 German banks fail to open; bank holiday declared ai_extracted 1 cit. no story On July 13, 1931, the Danatbank failed to open, its doors posted with a government guarantee of deposits. Runs besieged every bank and President Hindenburg proclaimed a national bank holiday. ●●

1931 The Bad Harzburg rally of the right ai_extracted 1 cit. no story In October 1931 the German nationalist right staged a rally at Bad Harzburg uniting Nazis, industrialists, and monarchists against the republic. Schacht appeared publicly for the first time as a Nazi associate. ●●

1931 Macmillan Report exposes London's debts ai_extracted 1 cit. no story The Macmillan Report, issued July 13, 1931, revealed that the City of London's short-term liabilities to foreigners were near $2 billion, later found closer to $3 billion. The figure shook confidence in London as banker to the world. ●●

1931 Bank of England loses half its gold ai_extracted 1 cit. no story In the last two weeks of July 1931 the Bank of England lost $250 million, nearly half its gold reserves, as investors fled the City. It raised rates only modestly, from 2.5 to 4.25 percent. ●●

1931 May Committee report deepens the crisis ai_extracted 1 cit. no story On July 31, 1931, the May Committee exaggerated Britain's budget deficit and urged deep spending cuts, including to unemployment benefits, amid a run on sterling. Keynes called it the most foolish document he had ever read. ●●

1931 Morgan blessing and fall of the Labour government ai_extracted 1 cit. no story On August 22-23, 1931, the Morgan partners approved Britain's budget cuts as a condition for a loan. The cabinet split over the cuts to unemployment benefits and the Labour government resigned. ●●

1931 The Invergordon mutiny ai_extracted 1 cit. On September 14, 1931, sailors of the Atlantic Fleet at Invergordon refused to muster over pay cuts. Reported abroad as a mutiny, it fed fears that Britain was near revolution and accelerated the run on sterling. ●●

1931 Britain decides to leave the gold standard ai_extracted 1 cit. no story Over the weekend of September 19-20, 1931, after losing $1 billion in gold, the British government decided to suspend gold payments. The decision ended Britain's defense of sterling's parity. ●●

1931 The pound falls off gold ai_extracted 1 cit. no story Within days of leaving gold in September 1931 the pound fell nearly 25 percent, from $4.86 to $3.75. Twenty-five countries followed Britain off gold in the following months. ●●