1921 Economy & Business Events — Verified Historical Highlights
1921 Economy & Business Events — Verified Historical Highlights | TakeMeBack.to
- 08 Jan Germany's Rhine River Fleet Partially Assigned to France: On January 8, 1921, an arbitrator determined that Germany must cede 305,000 tons of barge capacity and 25,000 horsepower of tug capacity from its Rhine River fleet to France. This decision aimed to fulfill France's legitimate needs and was part of the post-World War I reparations. source: jusmundi.com
- 03 Apr Coal rationing in the United Kingdom: On April 3, 1921, coal rationing was implemented in the United Kingdom due to a severe shortage of coal. This measure was part of the government's efforts to manage resources during a challenging economic period post-World War I. source: bbc.co.uk
- 06 Apr UK Coal Rationing Begins: Coal rationing was implemented in the United Kingdom, reflecting the economic challenges and resource management strategies in the post-World War I era. This measure likely aimed to control distribution and manage limited energy resources.
- 11 Apr Iowa's First Cigarette Tax: Iowa becomes the first state to impose a cigarette tax, setting a precedent for state-level tobacco taxation in the United States.
- 15 Apr Black Friday: British mining labor dispute: On April 15, 1921, known as 'Black Friday,' the Triple Alliance of British miners, railwaymen, and transport workers collapsed when the latter two unions withdrew support for a planned strike, leaving miners to face wage cuts alone. source: en.wikipedia.org
- 27 Apr Allied Reparations Commission sets German reparations at 132 billion gold marks: On April 27, 1921, the Allied Reparations Commission determined that Germany owed 132 billion gold marks in reparations for World War I, to be paid in annual installments of 2 billion marks plus 26% of German exports. source: britannica.com
- 10 May Germany accepts post-war Allied demands: On May 10, 1921, Germany accepted the Allied demands for reparations, agreeing to pay 132 billion gold marks, as outlined in the 'London Schedule of Payments,' marking a significant moment in post-war negotiations. source: en.wikipedia.org
- 30 Jun Establishment of South African Reserve Bank: On June 30, 1921, the South African Reserve Bank was established, becoming the central bank of South Africa and playing a crucial role in the country's monetary system. source: en.wikipedia.org
- 19 Aug United Kingdom Railways Act of 1921: The Railways Act 1921, also known as the Grouping Act, was enacted by the British government on August 19, 1921. It aimed to reorganize the British railway system by merging 120 companies into four large groups to improve efficiency and reduce competition. The act received royal assent on the same day and took effect on January 1, 1923. source: legislation.gov.uk
- 25 Aug SS Prinz Friedrich Wilhelm Resumes Cruise Service: The ocean liner SS Prinz Friedrich Wilhelm makes its first voyage as a cruise ship since the outbreak of World War One in 1914, signaling a return to peacetime maritime leisure and tourism.
- 26 Aug Munich economic unrest reported: On August 26, 1921, economic unrest was reported in Munich, Germany, as inflation and economic instability began to affect the populace. This unrest was part of the broader economic challenges facing Germany in the post-war period. source: britannica.com
- 26 Sep President Harding Addresses National Unemployment Conference: On September 26, 1921, President Warren G. Harding addressed the National Unemployment Conference, discussing strategies to combat unemployment and promote economic recovery in the post-World War I era.
- 15 Oct Major US Railroad Workers Strike Planned: On October 15, 1921, leaders of the Brotherhood of Railroad Trainmen, Brotherhood of Locomotive Firemen and Enginemen, Order of Railway Conductors, Brotherhood of Locomotive Engineers, and Switchmen's Union of North America ordered over half a million railroad workers to initiate a strike on October 30. The strike was planned in phases, with the first 750,000 workers set to walk off the job on October 30 at 6:00 AM local time, and an additional 1,250,000 workers expected to join in November. source: digital.bentley.umich.edu
- 18 Nov Establishment of Gosbank in Soviet Union: On November 18, 1921, Gosbank, the state bank of the Soviet Union, was established. This institution played a crucial role in the economic management and financial system of the USSR. source: britannica.com
- 01 Dec US Commercial Radio Broadcasting Regulations: On December 1, 1921, the United States government implemented regulations for commercial radio broadcasting, requiring licenses from the Department of Commerce and allocating specific frequencies for news and entertainment broadcasts. source: en.wikipedia.org
- 03 Dec US Radio Broadcasting Regulation: On December 3, 1921, the United States government implemented regulations for commercial radio broadcasting, requiring licenses from the Department of Commerce and allocating specific frequencies for news and entertainment broadcasts. source: en.wikipedia.org
- 04 Dec German currency experiences dramatic devaluation: In December 1921, the German mark faced severe devaluation, exacerbating the economic crisis in post-World War I Germany. This event marked a significant point in the hyperinflation that would follow in the early 1920s, leading to widespread economic hardship. source: britannica.com
- 26 Dec Italy and Soviet Russia sign preliminary trade agreement: On December 26, 1921, Italy and Soviet Russia signed a preliminary trade agreement in Rome, marking the de facto recognition of the Soviet Union by Italy. This agreement laid the foundation for future diplomatic relations between the two nations. source: marxists.org
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