1913 Economy & Business Events — Verified Historical Highlights
1913 Economy & Business Events — Verified Historical Highlights | TakeMeBack.to
- 01 Jan Parcel Post Delivery Service Launched: On January 1, 1913, the United States introduced the Parcel Post Service, allowing the mailing of packages up to 11 pounds. This service aimed to provide rural Americans with better access to goods and spurred the growth of mail-order businesses. The first package mailed under this service was 11 pounds of apples sent to President-elect Woodrow Wilson. source: postalmuseum.si.edu
- 25 Jan Grand Central Terminal Opens: On January 25, 1913, Grand Central Terminal in New York City opened its doors, becoming the world's largest train station and a significant architectural landmark. source: history.com
- 15 Feb Delaware Ratifies Federal Income Tax Amendment: On February 15, 1913, Delaware ratified the 16th Amendment to the U.S. Constitution, authorizing the federal government to levy an income tax. This amendment was crucial for the establishment of the modern federal income tax system. source: archives.gov
- 17 Feb First Minimum Wage Law in Oregon: On February 17, 1913, Oregon enacted the nation's first minimum wage law, setting a precedent for labor rights and wage standards in the United States. source: oregon.gov
- 04 Mar Indian Head Nickel Released: The US Mint introduced the Indian Head nickel into circulation, a notable moment in American numismatic history featuring distinctive Native American imagery.
- 05 Mar Vredenburg-Saldanha Rail Line Opens: A new rail line connecting Vredenburg and Saldanha in South Africa began operations, contributing to the region's transportation infrastructure and economic development.
- 08 Mar Income Tax Collection Begins in the United States: On March 8, 1913, the U.S. government began collecting income taxes following the ratification of the 16th Amendment, which authorized Congress to levy a federal income tax. source: en.wikipedia.org
- 24 Apr Woolworth Building Opens in New York City: The Woolworth Building, designed by architect Cass Gilbert, opened on April 24, 1913. At 792 feet tall, it was the world's tallest building at the time. The opening ceremony featured President Woodrow Wilson illuminating the building by pressing a button from the White House. source: history.com
- 14 May European Banks Loan to China: A consortium of European banks advanced the first $1.2 million installment of a substantial $125 million loan to China, reflecting the complex international financial dynamics of the early 20th century.
- 16 May International financial loan to China: On May 16, 1913, an international consortium provided a financial loan to China, aimed at stabilizing its economy during a period of political turmoil. This loan was part of broader efforts by foreign powers to influence Chinese governance and economic policies. source: britannica.com
- 20 May Birth of William Hewlett, Tech Pioneer: William Redington Hewlett, co-founder of Hewlett-Packard Company, was born on May 20, 1913, in Ann Arbor, Michigan. He co-founded HP with David Packard in 1939, significantly contributing to the development of Silicon Valley. source: en.wikipedia.org
- 02 Jun Expansion of rail and streetcar services in Cumbria: On June 2, 1913, Cumbria, a county in northwest England, announced the expansion of its rail and streetcar services to improve transportation and connectivity within the region. source: cumbria.gov.uk
- 13 Jun L.G. Balfour Company Founded: L.G. Balfour Company was established as a jewelry design company in Attleboro, Massachusetts, marking the beginning of what would become a notable business enterprise.
- 02 Jul Cincinnati authorities seize ice plants amid labor dispute: On July 2, 1913, Cincinnati authorities seized control of ice plants during a labor dispute. This action was part of a broader pattern of labor unrest and governmental intervention in industrial conflicts during the period. source: history.com
- 03 Jul Cincinnati Ice Plant Labor Dispute: During a sweltering summer, Cincinnati municipal authorities seized control of eight ice plants due to a workers' strike, highlighting labor tensions and the city's intervention in industrial disputes.
- 14 Jul Nationwide railroad strike averted through White House negotiations: On July 14, 1913, a nationwide railroad strike in the United States was averted after successful negotiations facilitated by the White House, preventing widespread disruptions. source: en.wikipedia.org
- 30 Aug Birth of Richard Stone, Renowned British Economist: Richard Stone, a prominent British economist and Nobel laureate, was born on August 30, 1913. He is known for his contributions to national accounting and economic statistics. source: britannica.com
- 09 Sep BASF launches revolutionary fertilizer production plant: On September 9, 1913, BASF inaugurated a groundbreaking fertilizer production plant. This facility marked a significant advancement in agricultural chemistry, enhancing crop yields and farming efficiency. source: britannica.com
- 10 Sep Lincoln Highway opens - first coast-to-coast paved highway: The Lincoln Highway, recognized as the first coast-to-coast paved highway in the United States, officially opened on September 10, 1913. This landmark project revolutionized road travel across the country. source: lincolnhighwayassoc.org
- 03 Oct Federal income tax established in the United States: The United States officially established a federal income tax on this date, marking a significant change in the country's fiscal policy. This tax was introduced to help fund government operations and services. source: irs.gov
- 31 Oct First US Federal Income Tax Established: The Revenue Act of 1913, signed into law by President Woodrow Wilson, re-established a federal income tax in the United States, imposing a 1% tax on incomes above $3,000. source: archives.gov
- 17 Nov Panama Canal officially opens: The Panama Canal officially opened on November 17, 1913, revolutionizing global trade by providing a direct maritime route between the Atlantic and Pacific Oceans. source: en.wikipedia.org
- 29 Nov Ford's revolutionary assembly line: On November 29, 1913, Henry Ford introduced the moving assembly line at his automobile factory in Highland Park, Michigan. This innovation drastically reduced production time and costs, revolutionizing manufacturing. source: britannica.com
- 13 Dec Establishment of the Federal Reserve System: The Federal Reserve System was established on December 13, 1913, as the central bank of the United States. It was created to provide the country with a safer, more flexible, and more stable monetary and financial system. source: federalreserve.gov
- 15 Dec Creation of the Federal Reserve System: The Federal Reserve System was officially created on December 15, 1913, to serve as the central banking system of the United States, aimed at providing a safer and more stable financial system. source: federalreserve.gov
- 23 Dec Federal Reserve Act Signed into Law: The Federal Reserve Act, establishing the Federal Reserve System, was signed into law on December 23, 1913. source: en.wikipedia.org
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