1938 Economy & Business Events — Verified Historical Highlights
1938 Economy & Business Events — Verified Historical Highlights | TakeMeBack.to
- 21 Jan Dutch unemployment insurance implemented: The Dutch government implemented unemployment insurance on January 21, 1938, providing financial support to unemployed citizens. This policy aimed to alleviate the economic hardships faced during the Great Depression. source: dutchnews.nl
- 31 Jan Nazi War Economics Council established: The Nazi War Economics Council was established to oversee the economic aspects of the war effort in Germany. This organization played a crucial role in the mobilization of resources for World War II. source: britannica.com
- 05 Feb Nazi economic leadership change: On February 5, 1938, the Nazi regime underwent a change in economic leadership, with key figures being replaced to implement new economic policies in preparation for war. source: en.wikipedia.org
- 16 Feb US Federal Crop Insurance Program established: On February 16, 1938, the United States established the Federal Crop Insurance Program to provide financial assistance to farmers affected by crop failures. This program aimed to stabilize the agricultural sector during economic hardships. source: fsa.usda.gov
- 17 Mar Mexico nationalizes foreign oil properties: On March 17, 1938, Mexico nationalized foreign oil properties, leading to the creation of Pemex. source: en.wikipedia.org
- 18 Mar Mexico nationalizes oil industry - Creation of Pemex: On March 18, 1938, Mexico nationalized its oil industry, leading to the creation of Pemex. source: en.wikipedia.org
- 14 Apr Roosevelt's Fireside Chat on Economic Conditions: On April 14, 1938, President Franklin D. Roosevelt delivered his 12th Fireside Chat, addressing the nation about the economic recession. He discussed the causes of the 1929 economic collapse, the decline in national income, and the overproduction that led to unemployment. Roosevelt emphasized the need for joint efforts from individuals, businesses, and the government to restore economic balance. source: presidency.ucsb.edu
- 28 Apr Massachusetts towns disincorporated for Quabbin Reservoir: On April 28, 1938, the towns of Dana, Enfield, Greenwich, and Prescott in Massachusetts were disincorporated to create the Quabbin Reservoir, a primary water supply for the Boston area. The land from these towns was annexed to neighboring municipalities, and the area was flooded, submerging the towns. source: en.wikipedia.org
- 26 May Hitler establishes Volkswagen plant: On May 26, 1938, Adolf Hitler laid the cornerstone for a new Volkswagen plant in the Fallersleben district of Wolfsburg, Germany. source: en.wikipedia.org
- 28 May Foundation of Tel Aviv Harbor: The foundation for the Tel Aviv harbor was laid, marking a significant infrastructural development for the growing city and its maritime capabilities. This event represented an important milestone in the urban and economic development of Tel Aviv during the late 1930s.
- 16 Jun U.S. Congress passes major relief bill: On June 16, 1938, the United States Congress passed a significant relief bill aimed at providing economic assistance during the Great Depression. The legislation included measures to support unemployment relief, public works programs, and financial aid to struggling industries, reflecting the government's commitment to economic recovery.
- 27 Sep Queen Elizabeth Ocean Liner Launch: The prestigious British ocean liner Queen Elizabeth was ceremoniously launched at Clydebank, Scotland, marking a significant moment in maritime engineering and British shipbuilding prowess.
- 14 Oct Seafarers International Union Founding: The Seafarers International Union of North America was established, an important labor organization dedicated to representing and protecting the rights of maritime workers across the continent.
- 21 Oct U.S. Minimum Wage Establishment: The United States government legally establishes a national minimum wage, a landmark labor policy that would significantly impact workers' rights and economic standards.
- 31 Oct New York Stock Exchange introduces investor protection program: On October 31, 1938, the New York Stock Exchange announced a new investor protection program aimed at restoring confidence in the market following the Great Depression. This initiative was part of broader reforms in the financial sector. source: sec.gov
- 12 Nov Birth of Alberto Diaz Lobo: Alberto Diaz Lobo, the founder of ETERNA S.A., was born in San Pedro Sula, Honduras.
- 15 Nov US Mint Releases Jefferson Nickel: The United States Mint introduces the Jefferson 5-cent coin into circulation, replacing the previous Buffalo nickel design and featuring a portrait of Thomas Jefferson.
- 14 Dec Nazi Germany's Anti-Semitic Economic Policy: On December 14, 1938, Nazi Germany issued an executive order under the Law on the Organization of National Work, canceling all state contracts held with Jewish-owned firms. This measure aimed to economically isolate and further marginalize the Jewish community by stripping them of state business and resources. source: en.wikipedia.org
- 30 Dec Soviet Agricultural Production Insight: Family plots in the Soviet Union produce 22% of all agricultural produce on just 4% of cultivated land, revealing the efficiency of small-scale farming.
- 31 Dec US Silver Purchase Proclamation: US President Franklin Roosevelt proclaimed that the government would continue purchasing domestically mined silver at 64.64 cents per ounce until June 30, significantly above the world price of 43 cents, supporting domestic mining industries.
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