Events, Verisoph

1930 Collapse of Caldwell and Company ai_extracted 1 cit. no story In October 1930 a drought across the Midwest and South triggered the failure of the Tennessee investment bank Caldwell and Company. Its collapse brought down 120 banks across four southern states. ●●

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 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 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 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 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 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 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. ●●

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 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. ●●

1931 American banks fail after Britain leaves gold ai_extracted 1 cit. no story In the month after Britain's departure from gold, 522 American banks failed, and by year's end 2,294 had suspended operations with $1.7 billion in deposits. Fear of a U.S. devaluation drove a gold outflow across the Atlantic. ●●

1931 The Fed raises rates in a depression ai_extracted 1 cit. no story In October 1931, with bank runs raging and production collapsing, the Fed raised rates from 1.5 to 3.5 percent to defend its gold, driven by an anachronistic reserve requirement. With deflation, the real cost of money rose above 10 percent. ●●

1931 North German Wool collapse triggers German bank crisis ai_extracted 1 cit. no story On June 16, 1931, North German Wool failed, triggering a financial crisis as it dragged down German creditors, most notably the huge Danat Bank on July 11. ●●

1931 Brüning government imposes 25 percent flight tax ai_extracted 1 cit. no story In 1931, the Brüning government had imposed a 25 percent flight tax on capital shifted abroad and under the Nazis, these extortionate taxes steadily rose, making the decision to leave excruciating. ●●

1931 Godel publishes his incompleteness paper ai_extracted 1 cit. no story 5, it is divisible by 121, and (when decoded according to the official rules) it is a provable formula. Gödel laid all this out in a little paper in 1931. ●●

1931 Fine Hall opens at Princeton ai_extracted 1 cit. no story Fine Hall opened in October of 1931, with no detail overlooked: from the showers and locker room in the basement (“members of the department who wish ●●

1931 Manchurian Incident and seizure of Manchuria ai_extracted 1 cit. no story Lower-ranking officers of the Kwantung Army there assassinated the warlord Chang Tso-lin, and after the September 1931 Manchurian Incident seized most of southern Manchuria. ●●

1931 Washington links reparations to Allied war debts ai_extracted 1 cit. no story Most critically of all, on 20 June 1931, in response to the talk of an imminent debt moratorium, Washington finally conceded the linkage between reparations and the inter-Allied war debts.°° In the interests of preserving America’s loans to Germany, ●●

1931 Fourth emergency decree slashes German wages and prices ai_extracted 1 cit. no story The fourth Presidential emergency decree of 8 December 1931, apart from banning the wearing of party uniforms and political demonstrations, also ordered mandatory cuts in wages, salaries, prices and interest rates, followed by a further decrease in g ●●

1931 Vannevar Bush builds the Differential Analyzer ai_extracted 1 cit. no story Vannevar Bush builds an analog electromechanical computer capable of solving differential equations. ●●

1931 Turing enters King's College, Cambridge ai_extracted 1 cit. no story Turing wins a scholarship to read mathematics at King's College, Cambridge. ●●

1931 Godel publishes the incompleteness theorem ai_extracted 1 cit. no story Kurt Godel shows that any formal system powerful enough to express ordinary mathematics contains statements that can be neither proved nor disproved. ●●

3 October 1932 Independence of Iraq 0 cit. no story The Kingdom of Iraq becomes independent from Britain and joins the League of Nations, ending the British mandate. politics ●●●

23 September 1932 Unification of Saudi Arabia 0 cit. no story Abdulaziz Ibn Saud proclaims the Kingdom of Saudi Arabia, uniting Nejd and Hejaz after three decades of conquest. politics / war ●●●●

9 September 1932 to 12 June 1935 Chaco War 0 cit. no story Bolivia and Paraguay fight over the arid Chaco region, rumored to hold oil, in South America's bloodiest twentieth-century war. Paraguay wins most of the disputed territory at a cost of some 100,000 lives. war ●●●

1932 World Disarmament Conference achieves nothing (1932-1935) ai_extracted 1 cit. no story The World Disarmament Conference, six years in preparation and in session from February 1932 to April 1935, achieved nothing notable amid the Franco-German deadlock and worsening depression. ●●

1932 Ottawa Imperial Preference treaties ai_extracted 1 cit. no story In August 1932 Britain bound the empire into closer economic ties through eleven Imperial Preference treaties signed at Ottawa, part of its response to abandoning gold. ●●

1932 Britain sets up the Exchange Equalization Account ai_extracted 1 cit. no story In May 1932 the British government created the Exchange Equalization Account with 175 million pounds to stabilize exchange rates. This separated control of the exchanges from control of the domestic credit structure. ●●

1932 Suicide of Ivar Kreuger, the Match King ai_extracted 1 cit. no story Quigley dates the personal end of financial capitalism to the April 1932 suicide of Ivar Kreuger in Paris. Kreuger had built a match empire financed by the sale of worthless and fraudulent securities. ●●

1932 Quigley: nations learn rearmament prevents deflation ai_extracted 1 cit. no story Quigley argues economic nationalism intensified once governments discovered rearmament could prevent deflation, Germany in 1932, Italy in 1934, Japan in 1936, and the United States in 1938. ●●

1932 Industrialists fund Hitler at the Dusseldorf Industrial Club ai_extracted 1 cit. no story Quigley traces Hitler's industrialist backing to a series of addresses culminating in January 1932, when he spoke for three hours to the Industrial Club of Dusseldorf and won support and financial contributions from that powerful group. ●●

1932 Papen removes the Prussian government ai_extracted 1 cit. no story On July 20, 1932, Hindenburg by decree under Article 48 appointed Papen commissioner for Prussia, letting him dismiss the elected Prussian cabinet. This removed the chief institutional obstacle to Nazi extremism. ●●

1932 Election of Franklin Roosevelt and the New Deal ai_extracted 1 cit. no story The shift of farmers, light industry, commercial interests, real estate, professionals and unskilled labor to the Democratic Party in 1932 produced the election of Franklin Roosevelt and the New Deal. ●●

1932 US non-recognition of Manchurian conquest (Stimson Doctrine) ai_extracted 1 cit. no story As early as January 1932 the United States notified signers of the 1922 Nine-Power treaty that it would refuse to accept territorial changes made by force in violation of the Kellogg-Briand Pact. ●●

1932 Baldwin's 'the bomber will always get through' speech ai_extracted 1 cit. no story In November 1932 Stanley Baldwin told the public there was no power on earth that could protect a man from being bombed. Quigley says acceptance of such ideas by civilian leaders was a chief factor in appeasement and the Munich surrender. ●●

1932 Aldous Huxley publishes Brave New World ai_extracted 1 cit. no story Wood argues that Huxley's 1932 novel foresaw the technocratic transformation of society. He asserts it predicted an end state of scientific dictatorship. ●●

1932 Committee on Technocracy formed at Columbia ai_extracted 1 cit. no story In the early fall of 1932 Walter Rautenstrauch and Howard Scott formed the Committee on Technocracy at Columbia University to run an industrial survey of North America. ●●

1932 John Dewey heralds the end of 'the old individualism' ai_extracted 1 cit. no story Gatto notes that in 1932 John Dewey, then America's most prominent educational voice, declared the end of the old individualism, arguing that associations increasingly define individual choices and actions. ●●

1932 Frances Zimmer marries into the Gatto family in 1932 ai_extracted 1 cit. no story In 1932 Gatto's mother, Frances Zimmer, married into the Italian Gatto family, wedding alone without her parents present. ●●

1932 Reconstruction Finance Corporation established ai_extracted 1 cit. no story In January 1932 the Reconstruction Finance Corporation was created to channel $1.5 billion of public money into the banking system. Congress insisted Eugene Meyer chair it alongside his Fed post. ●●

1932 The Dow hits bottom ai_extracted 1 cit. no story On July 8, 1932, the Dow fell to 41, down almost 90 percent from its 1929 peak of 381. It marked the depth of the Depression, with corporations losing billions and unemployment above ten million. ●●

1932 Roosevelt wins the presidency ai_extracted 1 cit. no story In November 1932 Franklin Roosevelt won a landslide over Hoover, 22.8 million votes to 15.7 million, the largest sweep since 1864. The campaign had been dominated by the Depression. ●●

1932 Allies cancel German reparations ai_extracted 1 cit. no story In June 1932, France and Britain formally agreed to forgive all German reparations, accepting that no more money could be extracted. Of the $32 billion once demanded, the Allies had collected only about $4 billion. ●●

1932 Fed launches massive bond-buying program ai_extracted 1 cit. no story The massive bond-buying program that the Fed initiated in May 1932, in which it agreed to buy $26 million worth of bonds a week from its member banks, reached a total of $1.82... ●●

1932 Wright Patman moves to impeach Andrew Mellon ai_extracted 1 cit. no story On January 6, 1932, Texas Democratic representative Wright Patman told the Speaker of the House that he wanted to impeach Mellon on the charge of “high crimes and misdemeanors.”... ●●

1932 Federal Home Loan Bank Board established ai_extracted 1 cit. no story A Federal Home Loan Bank Board had already been set up in 1932 to encourage and oversee local mortgage lenders known as Savings and Loans (or thrifts), mutual associations like British building societies, which took in deposits and lent to home buyers. ●●

1932 Lausanne Conference ends reparations payments ai_extracted 1 cit. no story In July 1932, European leaders at Lausanne reached a gentleman's agreement that effectively ended reparations and war debt payments, marking what Lamont saw as an end to the economic warfare that had persisted since the Treaty of Versailles. ●●

1932 Japanese conquest of Manchuria ai_extracted 1 cit. no story neffectual that they did more harm than good. At the time of the Japanese conquest of Manchuria in 1932, the League had no machinery for sanctions. ●●

1932 Illustrated edition of Initiates of the Flame published ai_extracted 1 cit. no story A more lavishly illustrated edition of Manly Hall's Initiates of the Flame was published, featuring illustrations by his friend and collaborator J. Augustus Knapp, who would also illustrate The Secret Teachings of All Ages. ●●

1932 Chadwick announces discovery of the neutron ai_extracted 1 cit. no story in a letter to the British journal Nature, physicist James Chadwick of the Cavendish Laboratory at Cambridge University, Ernest Rutherford’s laboratory, announced the possible existence of a neutron. ●●

1932 Joliot-Curies report protons from beryllium radiation ai_extracted 1 cit. no story the Joliot-Curies reported to the Academy of Sciences their discovery that paraffin wax emitted high-velocity protons when bombarded by beryllium radiation. ●●

1932 Reichswehr plans secret rearmament and Treaty breach ai_extracted 1 cit. no story In the second half of 1932 the Reichswehr leadership began planning for an outright Treaty breach through a significant increase in peacetime military strength. ●●

1933 Hitler comes to power in Germany (1933) ai_extracted 1 cit. no story Quigley marks 1933 as the point when Hitler came to power in Germany, after which both the French Right and Left shifted their foreign policies. ●●

1933 Hitler quits the Disarmament Conference (1933) ai_extracted 1 cit. no story When Hitler came to office in January 1933 he demanded immediate arms equality with France; when refused, Germany left the conference and withdrew from the League in October 1933. ●●

1933 Gold maldistribution forces most nations off the gold standard (by 1933) ai_extracted 1 cit. no story Quigley notes that a complete maldistribution of gold, acute after 1928, had by 1933 forced most countries off the gold standard as the prewar system of international payments broke down. ●●

1933 United States leaves the gold standard, 1933 ai_extracted 1 cit. no story Orders completed on April 20, 1933, took the United States off the gold standard. Unlike Britain in 1931, Washington left gold voluntarily to pursue a domestic policy of price inflation. ●●

1933 World Monetary and Economic Conference, London 1933 ai_extracted 1 cit. no story The dispute over whether to prioritize currency stabilization or domestic recovery peaked at the World Monetary and Economic Conference in London, June 12 to July 27, 1933. No agreement was reached. ●●

1933 Roosevelt breaks off stabilization talks ai_extracted 1 cit. no story When a mere hint of a stabilization deal broke the rise in US security and commodity prices in June 1933, Roosevelt broke off all negotiations toward stabilization on July 3, 1933. ●●

1933 Hitler becomes chancellor of Germany ai_extracted 1 cit. no story Backed by industrialists and arranged through Papen, Hitler took office as chancellor on January 30, 1933, in a cabinet with only two other Nazis. Quigley notes it seemed impossible he could gain control, yet within eighteen months he was dictator. ●●