1918 Economy & Business Events — Verified Historical Highlights
1918 Economy & Business Events — Verified Historical Highlights | TakeMeBack.to
- 03 Jan United States Employment Service established: On January 3, 1918, the United States Employment Service (USES) was established as an autonomous unit within the Department of Labor. This reorganization aimed to address labor shortages during World War I by facilitating the recruitment and placement of workers in essential industries. source: ssa.gov
- 26 Jan US Food Conservation Efforts During World War I: On January 26, 1918, the United States initiated various food conservation efforts to support the war effort during World War I. These efforts included campaigns to reduce food waste and encourage citizens to conserve food for soldiers and allies. source: archives.gov
- 28 Jan Ammunition Factory Strike in Berlin: A strike occurred at a Berlin ammunition factory, potentially impacting wartime production during the final stages of World War I.
- 06 Feb Brooklyn Chamber of Commerce founded: The Brooklyn Chamber of Commerce was established on February 6, 1918, to advocate for the commercial and industrial interests of Brooklyn, New York. Over the years, it has grown to become the largest chamber of commerce in New York State, serving a diverse membership of businesses across the borough. source: brooklynchamber.com
- 05 Mar Birth of James Tobin: James Tobin, an influential American economist and Nobel laureate, was born on March 5, 1918. He is best known for his work on the theory of investment and the Tobin tax, which aims to reduce speculation in financial markets. source: britannica.com
- 05 Apr Third Liberty Loan issued by US Treasury: The U.S. Treasury issued the Third Liberty Loan on April 5, 1918, to finance the nation's involvement in World War I.
- 23 Apr Pittman Silver Coinage Act Approved: The United States Congress passed the Pittman Silver Coinage Act, which authorized the melting of up to 350 million silver dollar coins, significantly impacting the nation's monetary policy and silver market.
- 13 May First US Airmail Stamps Issued: On May 13, 1918, the United States issued its first airmail stamps, marking the beginning of official airmail service. This development facilitated faster mail delivery across the country and was a significant advancement in postal services. source: en.wikipedia.org
- 23 May Royal Dutch Shell Refinery Established in Curaao: On May 23, 1918, Royal Dutch Shell established a refinery in Curaao. This strategic move expanded the company's operations in the Caribbean, enhancing its ability to process and distribute oil products in the region. source: en.wikipedia.org
- 09 Jul Sécheron Workshops Established: The Anonymous Society of Sécheron Workshops, a significant Swiss electrical engineering company, was founded in Geneva, contributing to the technological development of Switzerland's industrial landscape.
- 13 Aug BMW founded in Germany: Bayerische Motoren Werke AG (BMW) was founded on August 13, 1918, in Munich, Germany. Initially, it produced aircraft engines before expanding into automobiles and motorcycles. source: britannica.com
- 28 Sep US Fourth Liberty Loan bond issue: On September 28, 1918, the United States government issued the Fourth Liberty Loan bonds to finance its participation in World War I. These bonds were part of a series of war bonds sold to support military expenditures and were promoted through extensive public campaigns to encourage citizen investment. source: archives.gov
- 16 Dec Renaissance Cleveland Hotel Opens: The Renaissance Cleveland Hotel was inaugurated, a grand 1000-room accommodation constructed at a substantial cost of $4.5 million, symbolizing the economic growth and architectural ambition of the early 20th century.
- 31 Dec United Business Media Established: United Newspapers Ltd. was founded in London, which would later evolve into United Business Media, marking the beginning of a significant media and business information company.
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