1932 Economy & Business Events — Verified Historical Highlights
1932 Economy & Business Events — Verified Historical Highlights | TakeMeBack.to
- 09 Jan Germany refuses reparations payments: Germany announced its refusal to continue reparations payments, a move that had significant implications for international relations and the economic stability of Europe. source: britannica.com
- 22 Jan Reconstruction Finance Corporation Established: On January 22, 1932, President Herbert Hoover signed the Reconstruction Finance Corporation Act into law, creating the Reconstruction Finance Corporation (RFC). The RFC was established to provide emergency financing facilities for financial institutions, aiming to aid in financing agriculture, commerce, and industry during the Great Depression. source: britannica.com
- 06 Feb Oslo Convention Signing: Denmark, Norway, Sweden, Belgium, Luxembourg, and the Netherlands signed the Oslo Convention, establishing an important economic cooperation framework in early 1930s Europe.
- 09 Mar Ford Flathead Engine Debuts: Ford introduced the Flathead V8 engine on March 9, 1932, revolutionizing the automotive industry with its affordability and performance. source: en.wikipedia.org
- 10 Mar Rockefeller Center Construction Begins: Construction of the Rockefeller Center in New York City began on March 10, 1932, marking the start of one of the largest private building projects in history. source: en.wikipedia.org
- 31 Mar Ford unveils affordable V8 engine: On March 31, 1932, Ford Motor Company introduced its new V8 engine, which was notable for being affordable and accessible to the average consumer. This innovation significantly impacted the automotive industry by providing more power and performance at a lower cost. source: ford.com
- 01 Apr Revenue Act of 1932: The Revenue Act of 1932, enacted on April 1, 1932, aimed to address the economic challenges of the Great Depression by increasing taxes on higher incomes and corporations. This legislation was part of broader efforts to stabilize the U.S. economy during a time of financial crisis. source: irs.gov
- 06 Apr Danube Conference Addresses Post-Habsburg Economic Crisis: On April 6, 1932, the Danube Conference commenced in London, bringing together Britain, France, Germany, and Italy to discuss the economic challenges faced by the countries formerly part of Austria-Hungary. The conference aimed to address the precarious economic situation in these nations. source: en.wikipedia.org
- 12 Apr German Stock Exchange reopens: On April 12, 1932, the German Stock Exchange reopened after a period of closure. This event marked a significant moment in Germany's economic recovery during the interwar period. source: encyclopedia.com
- 15 Apr Ivar Kreuger fraud scandal leads to arrests in Sweden: Following the suicide of Ivar Kreuger on March 12, 1932, investigations revealed extensive financial mismanagement and fraudulent activities within his empire. The Swedish government initiated legal actions, leading to the arrest of several individuals associated with Kreuger's companies, as authorities sought to address the widespread financial misconduct. source: ericsson.com
- 25 Apr Greece abandons gold standard: Facing economic challenges, Greece decided to abandon the gold standard on April 25, 1932. This move was part of a series of measures to stabilize the country's economy during the Great Depression. source: en.wikipedia.org
- 11 May Siam Suspends Gold Standard: On May 11, 1932, Siam (now Thailand) suspended its adherence to the gold standard. This decision was part of a series of economic reforms during a period of significant political change, culminating in the Siamese revolution of 1932, which transitioned the country from an absolute monarchy to a constitutional monarchy. source: en.wikipedia.org
- 15 May Peru Suspends Gold Standard: On May 15, 1932, Peru suspended the gold standard, a move that was part of a broader trend of countries abandoning the gold standard during the Great Depression. source: en.wikipedia.org
- 08 Jun Revenue Act of 1932 implemented: On June 8, 1932, the Revenue Act of 1932 was implemented, introducing significant tax increases to address the federal budget deficit during the Great Depression. source: en.wikipedia.org
- 08 Jul Dow Jones Industrial Average reaches Great Depression low point: On July 8, 1932, the Dow Jones Industrial Average reached its lowest point during the Great Depression, closing at 41.22. This marked a significant decline from its previous high of 381.17 in 1929, reflecting the severe economic downturn of the era. source: investopedia.com
- 15 Jul President Hoover's salary reduction during Great Depression: On July 15, 1932, President Herbert Hoover announced a 20% reduction in his annual salary, decreasing it from $75,000 to $60,000, as part of a broader effort to reduce government expenditures during the Great Depression. Additionally, Cabinet members agreed to a 15% salary reduction, lowering their pay from $15,000 to $12,750 per year. source: presidency.ucsb.edu
- 21 Jul Emergency Relief and Construction Act signed: On July 21, 1932, U.S. President Herbert Hoover signed the Emergency Relief and Construction Act, providing federal funds for public works and relief programs during the Great Depression. source: en.wikipedia.org
- 22 Jul Hoover signs Emergency Relief and Construction Act: On July 22, 1932, U.S. President Herbert Hoover signed the Emergency Relief and Construction Act, providing federal funds for public works and relief programs during the Great Depression. source: en.wikipedia.org
- 26 Jul Death of Frederick S. Duesenberg: Frederick S. Duesenberg, an American automotive engineer and manufacturer, passed away on July 26, 1932. He was renowned for his high-performance engines and luxury automobiles, which significantly influenced the automotive industry. source: en.wikipedia.org
- 31 Jul George Washington quarter introduced: The George Washington quarter was introduced by the United States Mint on July 31, 1932, to commemorate the 200th anniversary of Washington's birth. This coin became a significant part of American numismatic history. source: usmint.gov
- 01 Aug Washington Quarter Introduced: The United States Mint released the Washington quarter to the American public, introducing a new design that would become one of the most recognizable coins in American currency history.
- 06 Aug First Autobahn Section Opens in Germany: The first section of the German autobahn, connecting Cologne and Bonn, was opened on August 6, 1932. This 18-kilometer stretch, known as Bundesautobahn 555, was constructed between 1929 and 1932 and was dedicated by Mayor Konrad Adenauer of Cologne. source: highways.dot.gov
- 20 Aug British Empire Economic Conference concludes in Ottawa: The British Empire Economic Conference concluded in Ottawa on August 20, 1932, resulting in the adoption of the Imperial Preference tariff. This policy aimed to create a unified economic zone within the British Empire by imposing tariffs to exclude non-empire states from competing in British markets. source: en.wikipedia.org
- 27 Aug English textile workers strike: On August 27, 1932, English textile workers initiated a strike to protest against poor working conditions and low wages. The strike highlighted the ongoing labor issues in the textile industry during that period. source: en.wikipedia.org
- 28 Aug Von Papen's Economic Recovery Plan: On August 28, 1932, German Chancellor Franz von Papen delivered a significant economic speech in Münster, presenting a comprehensive 12-month economic recovery plan. This address came during a critical period of economic instability in Germany, following the devastating impacts of the Great Depression and preceding the rise of Nazi economic policies. Von Papen's plan aimed to address the severe economic challenges facing the Weimar Republic at a time of profound national uncertainty. source: takemeback.to
- 29 Aug United Cigar Stores Closes Hundreds of Shops: In August 1932, United Cigar Stores, a prominent chain in the United States, faced significant financial difficulties due to the Great Depression. The company declared bankruptcy in September 1932, leading to the closure of numerous stores and resulting in thousands of employees facing unemployment. This mass closure also substantially impacted the cigar industry, altering market dynamics and consumer habits. source: en.wikipedia.org
- 09 Sep Belgian miners' strike concludes: The Belgian miners' strike, which began in early 1932 due to poor working conditions and low wages, concluded on September 9, 1932. The strike led to significant labor reforms and improved conditions for miners in Belgium. source: en.wikipedia.org
- 27 Sep SS Rex Begins Maiden Transatlantic Voyage: The Italian ocean liner SS Rex embarked on its maiden transatlantic voyage from Genoa to New York on September 27, 1932. source: en.wikipedia.org
- 05 Nov Lancashire cotton workers strike concludes: On November 5, 1932, the Lancashire cotton workers' strike ended after negotiations led to improved working conditions and wages. source: en.wikipedia.org
- 10 Dec Greek Stock Exchange reopens: On December 10, 1932, the Greek Stock Exchange reopened. This event marked a significant moment in Greece's economic history, reflecting efforts to stabilize and revitalize the country's financial markets during a period of economic challenges.
- 12 Dec Major League Baseball player trade: On December 12, 1932, a three-team trade occurred involving the New York Giants, Philadelphia Phillies, and Pittsburgh Pirates. The Phillies sent outfielder Chick Fullis to the Giants, who sent third baseman Freddie Lindstrom to the Pirates. The Pirates sent outfielder Glenn Spencer to the Giants and outfielder Gus Dugas to the Phillies. source: sabr.org
- 24 Dec German leaders' Christmas appeal for unemployed youth: On December 24, 1932, German leaders made a Christmas appeal to address the plight of unemployed youth in the country. This initiative aimed to provide support and opportunities during a time of economic hardship. source: britannica.com
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