1931 Economy & Business Events — Verified Historical Highlights
1931 Economy & Business Events — Verified Historical Highlights | TakeMeBack.to
- 06 Jan Herbert Hoover optimistic about auto industry: On January 6, 1931, U.S. President Herbert Hoover expressed optimism about the automobile industry's recovery, citing signs of economic improvement. source: en.wikipedia.org
- 08 Jan Herbert Hoover addresses National Automobile Chamber of Commerce: On January 6, 1931, President Herbert Hoover delivered telephone remarks to the National Automobile Chamber of Commerce, discussing the automobile industry's role in the economy. source: presidency.ucsb.edu
- 13 Feb Nevada Gambling Legislation Introduction: On February 13, 1931, Assemblyman Phil M. Tobin introduced Assembly Bill 98, aiming to legalize gambling in Nevada. This bill marked the beginning of the state's move to regulate gambling, which was later signed into law by Governor Fred B. Balzar on March 19, 1931. source: ebsco.com
- 27 Feb Canada-Soviet Trade Dispute Escalates: On February 27, 1931, tensions between Canada and the Soviet Union escalated over trade disagreements. This dispute highlighted the complexities of international relations during the early 20th century. source: thecanadianencyclopedia.ca
- 01 Mar Bridgestone Founded: On March 1, 1931, Bridgestone Corporation, a Japanese multinational auto and truck parts manufacturer, was founded. It has since become one of the world's largest tire and rubber companies. source: bridgestone.com
- 17 Mar Nevada Legalizes Gambling: On March 17, 1931, Nevada legalized gambling, marking a significant shift in the state's economic and social landscape. source: history.com
- 19 Mar Nevada gambling legalization: On March 19, 1931, Nevada legalized gambling, a pivotal moment in the state's history. This legislation laid the groundwork for Nevada to become a major gambling hub in the United States, significantly impacting its economy. source: britannica.com
- 21 Mar Germany-Austria customs pact: On March 21, 1931, Germany and Austria signed a customs pact, facilitating trade between the two nations. This agreement was part of broader economic strategies during the interwar period. source: britannica.com
- 27 Mar Germany and Austria sign customs pact: On March 27, 1931, Germany and Austria signed a customs pact aimed at facilitating trade between the two nations. This agreement was part of broader economic cooperation efforts during the interwar period. source: britannica.com
- 25 Apr Porsche automobile manufacturer founded: Porsche was founded on April 25, 1931, by Ferdinand Porsche in Stuttgart, Germany. The company initially offered vehicle development consulting before becoming known for its sports cars. source: britannica.com
- 27 Apr United Kingdom Budget Day: April 27, 1931, marked Budget Day in the United Kingdom, where the Chancellor of the Exchequer presented the annual budget to Parliament. This event is significant in the context of economic policy during the Great Depression. source: bbc.com
- 09 May Berlin Building Exposition: On May 9, 1931, a large building exposition, covering 32 acres and one of the largest ever held, opened in Berlin. source: en.wikipedia.org
- 11 Jun German austerity riots of 1931: In 1931, Germany faced severe economic challenges, leading to widespread austerity measures. These measures sparked riots and social unrest, reflecting the public's dissatisfaction with the government's handling of the economic crisis. source: en.wikipedia.org
- 20 Jun Hoover Moratorium Addresses Global Banking Crisis: On June 20, 1931, U.S. President Herbert Hoover proposed a one-year suspension of Germany's World War I reparations and the repayment of war loans extended to the Allies. This initiative aimed to alleviate the international financial crisis and provide time for economic recovery. source: en.wikipedia.org
- 01 Jul United Airlines inaugural service: On July 1, 1931, United Airlines commenced its inaugural service, marking a significant milestone in the history of American aviation. The airline began operations with a fleet of aircraft designed to provide reliable and efficient air travel across the United States, contributing to the expansion and development of the aviation industry. source: en.wikipedia.org
- 21 Jul First Daily Double wagering in US racing: On July 21, 1931, the Daily Double, a new exotic wager in horse racing, was introduced at Connaught Park Racetrack in Ottawa. This wager required bettors to pick the winners of two consecutive races, offering higher odds and serving as an incentive for spectators to arrive early. source: en.wikipedia.org
- 08 Aug Labor strike at Hoover Dam construction site: On August 8, 1931, workers at the Hoover Dam construction site initiated a strike in response to wage reductions and poor working conditions. The strike lasted for several days, leading to temporary work stoppages and heightened tensions between workers and management. source: nvdatabase.swarthmore.edu
- 12 Aug Reichsbank interest rate adjustment: On August 12, 1931, the Reichsbank, Germany's central bank, adjusted its interest rate back down to 10%. This move was part of the bank's monetary policy during a period of economic instability in the Weimar Republic. source: en.wikipedia.org
- 20 Sep Britain abandons gold standard: On September 20, 1931, Britain officially abandoned the gold standard, a significant economic policy shift during the Great Depression. This decision allowed the British government to devalue the pound and implement measures to combat economic downturn. source: britannica.com
- 27 Sep Multiple countries abandon gold standard: On September 27, 1931, several countries, including the UK, abandoned the gold standard in response to the global economic crisis. This decision marked a significant shift in monetary policy and had lasting effects on international finance. source: britannica.com
- 28 Sep France-Germany trade commission established: On September 28, 1931, the trade commission established by France and Germany began its operations, focusing on enhancing bilateral trade relations. This initiative was crucial for economic recovery in the aftermath of World War I. source: britannica.com
- 03 Nov First commercial synthetic rubber production: On November 3, 1931, DuPont announced the commercial production of Duprene, a synthetic rubber developed by Wallace Carothers and his team. This material, later known as neoprene, was the first synthetic rubber produced in the United States. source: acs.org
- 08 Nov Panama Canal Temporarily Closed Due to Earthquake Damage: On November 8, 1931, the Panama Canal was temporarily closed following damage from an earthquake. This incident raised concerns about the canal's structural integrity and its impact on global shipping. source: britannica.com
- 20 Nov Dow Jones Industrial Average falls below 100 points for the first time: On November 20, 1931, the Dow Jones Industrial Average closed below 100 points for the first time since the beginning of the Great Depression, marking a significant decline in the stock market. source: guinnessworldrecords.com
- 11 Dec Japan leaves the gold standard: On December 11, 1931, Japan officially abandoned the gold standard, a move that was part of its response to the global economic crisis. This decision allowed for greater flexibility in monetary policy and was significant for Japan's economic recovery efforts. source: britannica.com
- 13 Dec Japan abandons gold standard: On December 13, 1931, Japan suspended the gold standard, a move that was part of the Inukai Cabinet's economic policy to address the country's trade deficit and economic challenges. source: en.wikipedia.org
- 17 Dec Japan suspends gold standard: On December 17, 1931, Japan suspended the gold standard, a move that was part of the Inukai Cabinet's economic policy to address the country's trade deficit and economic challenges. source: en.wikipedia.org
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