1946 Economy & Business Events — Verified Historical Highlights
1946 Economy & Business Events — Verified Historical Highlights | TakeMeBack.to
- 14 Jan End of Margin Buying on Stock Exchanges: The Federal Reserve Board voted to terminate margin buying practices on national stock exchanges, effective January 21, aiming to stabilize financial markets.
- 16 Jan End of Margin Buying on Stock Exchanges: The Federal Reserve Board voted to end margin buying on stock exchanges, a practice linked to the 1929 Wall Street Crash, effective January 21, to prevent speculative financial practices.
- 21 Jan Federal Reserve increases margin requirements to 100%: On January 21, 1946, the Federal Reserve raised the initial margin requirement for purchasing securities on margin to 100%, aiming to curb excessive stock market speculation. source: federalreserve.gov
- 25 Jan United Mine Workers reunite with AFL: On January 25, 1946, the United Mine Workers (UMW) voted to rejoin the American Federation of Labor (AFL), ending a 20-year separation. This move aimed to strengthen labor unity in the United States. source: aflcio.org
- 26 Jan U.S. government seizes meatpacking plants during labor dispute: On January 26, 1946, the U.S. government took control of meatpacking plants amid a labor dispute. This action was part of a broader effort to manage labor unrest and ensure the supply of meat during post-war economic challenges. source: history.com
- 29 Jan Bank of England Nationalized: The British government nationalizes the Bank of England, marking a significant shift in the country's economic policy and financial governance.
- 30 Jan Roosevelt dime enters circulation: The Roosevelt dime was officially released into circulation on January 30, 1946, honoring President Franklin D. Roosevelt. The coin features a profile of Roosevelt and is significant for its role in commemorating his contributions to the nation. source: usmint.gov
- 31 Jan Vietnam introduces national currency: On January 31, 1946, Vietnam introduced its national currency, the đồng, as part of its efforts to establish economic independence following the end of French colonial rule. This marked a significant step in the country's economic development. source: britannica.com
- 06 Feb Introduction of Frozen French Fries: Maxson Food Systems of Long Island, New York, introduced frozen french fries, revolutionizing food preservation and convenience in the American food industry.
- 08 Feb Soviet report on World War II damages: On February 8, 1946, the Soviet Union released a report detailing the damages it sustained during World War II, highlighting the extensive human and material losses. source: archives.gov
- 09 Feb Stalin announces new Five-Year Plan: On February 9, 1946, Joseph Stalin announced a new Five-Year Plan aimed at rebuilding the Soviet economy post-World War II. This plan focused on heavy industry and collectivization, reflecting Stalin's continued commitment to rapid industrialization. source: britannica.com
- 11 Feb German Gold Reserve Transported: The entire 100-ton German gold reserve was secretly transported from Berlin to a salt mine near Eisenach, representing a desperate attempt by German authorities to protect their financial assets from advancing Allied forces.
- 14 Feb Bank of England nationalization: On February 14, 1946, the Bank of England was nationalized when King George VI signed a 250-page bill, transferring ownership to the state. source: thepoststandard.com
- 15 Feb United Steel Workers strike resolution: On February 15, 1946, a resolution was reached regarding the United Steel Workers strike, which had significant implications for labor relations in the post-war era. This resolution was part of broader labor movements during a time of economic transition in North America. source: history.com
- 13 Mar United Auto Workers strike against General Motors concludes: On March 13, 1946, the United Auto Workers (UAW) ended a 113-day strike against General Motors (GM), which began on November 21, 1945. The strike, involving approximately 320,000 workers, was the longest national GM strike in history at that time. Workers received a wage increase of 18.5 cents per hour (17.5%) and secured paid vacations and overtime benefits. source: en.wikipedia.org
- 18 Mar United Auto Workers strike against General Motors concludes: On March 18, 1946, the United Auto Workers (UAW) concluded a significant strike against General Motors, which had begun in February. The strike was one of the largest in U.S. history at the time and resulted in improved wages and working conditions for auto workers. source: en.wikipedia.org
- 01 Apr International financial institutions established: In 1946, several key international financial institutions were established to promote global economic stability and development. These institutions play a crucial role in international finance and economic policy. source: imf.org
- 05 Apr Soviet Union and Iran sign historic oil agreement: On April 4, 1946, Iran and the Soviet Union signed an agreement establishing a joint oil company, granting the Soviets a 51% stake for the first 25 years. source: cia.gov
- 13 Apr Belgian Economic Policy Change: Belgian Premier Acker officially announces the end of the wartime wage and price freeze, signaling a transition towards post-World War II economic normalization.
- 05 May SISAL Football Pools launched in Italy: On May 5, 1946, SISAL introduced the first official football pools competition in Italy, known as "schedina Sisal." This game, which later became Totocalcio, marked a significant development in Italian sports culture. source: sisal.com
- 07 May Sony Corporation founded: Sony Corporation, originally known as Tokyo Tsushin Kogyo, was founded on May 7, 1946, in Tokyo, Japan, by Masaru Ibuka and Akio Morita, marking the beginning of one of the world's leading electronics companies. source: en.wikipedia.org
- 13 May Federal Airport Act of 1946: The Federal Airport Act was enacted on May 13, 1946, to provide federal funding for the development of airports across the United States. This legislation aimed to improve the nation's air transportation infrastructure in the post-World War II era. source: faa.gov
- 20 May British Coal Mining Industry Nationalization: On May 20, 1946, the British House of Commons passed a bill to nationalize the United Kingdom's coal mining industry. The measure was approved by the House of Lords and received royal assent on July 12. source: en.wikipedia.org
- 22 May US Government seizes bituminous coal mines: On May 22, 1946, the U.S. government seized control of bituminous coal mines to avert a strike that threatened to disrupt coal production. This action was part of a broader effort to stabilize the economy and ensure the availability of essential resources post-World War II. The seizure was met with both support and opposition from various stakeholders. source: archives.gov
- 24 May Major U.S. Railroad Strike of 1946: In 1946, a significant railroad strike occurred in the United States, leading to widespread disruptions in transportation and commerce. The strike was part of a series of labor actions during that period. source: archives.gov
- 28 May United States extends massive loan to France: On May 28, 1946, the United States extended a significant loan to France as part of its post-war recovery efforts. This financial assistance was crucial for rebuilding the French economy after World War II. source: britannica.com
- 23 Jun Monnet Plan Proposed by France: On June 23, 1946, France proposed the Monnet Plan, a proposal for European economic integration, aiming to create a common market for coal and steel among European countries to prevent future conflicts. source: en.wikipedia.org
- 25 Jun World Bank established: The World Bank was established on June 25, 1946, to provide financial and technical assistance to developing countries. Its primary goal is to reduce poverty and support development by providing loans and grants for various projects. source: britannica.com
- 02 Jul Rotterdam and Amsterdam harbor workers end strike: On July 2, 1946, harbor workers in Rotterdam and Amsterdam ended their strike. The strike had been initiated to protest working conditions and wages, and its conclusion marked a significant labor movement event in post-war Netherlands. source: en.wikipedia.org
- 16 Jul Social Security Administration established: The Social Security Administration (SSA) was officially established on July 16, 1946, to oversee the Social Security program in the United States. This agency plays a crucial role in providing financial assistance to retirees and disabled individuals. source: ssa.gov
- 22 Jul Introduction of Hungarian Forint: The Hungarian government introduced the Forint, effectively ending the world's most severe hyperinflation in the country's history. This monetary reform was a crucial step in stabilizing Hungary's post-World War II economy and establishing financial normalcy.
- 26 Jul Aloha Airlines inaugural flight: Aloha Airlines launched its inaugural flight on July 26, 1946, connecting the Hawaiian Islands. This marked the beginning of inter-island air travel in Hawaii, significantly impacting tourism and transportation. source: alohaairlines.com
- 01 Aug Scandinavian Airlines System founded: On August 1, 1946, the national airlines of Denmark, Norway, and Sweden formed the Scandinavian Airlines System (SAS) to handle intercontinental air traffic. Operations commenced on September 17, 1946, with the first flight between Stockholm and New York. source: britannica.com
- 02 Aug Hungary recovers gold reserve from Nazi occupation: On August 2, 1946, Hungary successfully reclaimed a portion of its gold reserves that had been seized during the Nazi occupation. This recovery was part of the broader efforts to restore the country's economy post-World War II. source: bbc.com
- 08 Aug Pittsburgh Pirates ownership change: On August 8, 1946, the Pittsburgh Pirates were sold by the heirs of Barney Dreyfuss to a syndicate led by Indianapolis banker Frank E. McKinney. The group included John W. Galbreath, Thomas P. Johnson, and entertainer Bing Crosby. This marked the first change in ownership since 1900. source: en.wikipedia.org
- 12 Aug Post-War Hungarian Gold Reserve Recovery: On August 12, 1946, Hungary began efforts to recover its gold reserves that had been lost during World War II. This recovery was crucial for stabilizing the Hungarian economy in the post-war period, as the country faced severe financial challenges. source: bbc.com
- 16 Aug Establishment of Japan Business Federation (Keidanren): The Japan Federation of Economic Organizations, known as Keidanren, was established on August 16, 1946, to mediate differences between member industries and advise the government on economic policy. It is considered one of the most powerful organizations in Japan. source: britannica.com
- 17 Sep Post-war production surge: On September 17, 1946, the United States experienced a significant surge in production as industries transitioned from wartime to peacetime manufacturing. This shift was crucial for economic recovery and marked the beginning of a robust post-war economy. source: bls.gov
- 17 Oct Coffee Price Controls Removed: On October 17, 1946, the Office of Price Administration (OPA) removed price controls on coffee, allowing market prices to be determined by supply and demand. This decision was based on data indicating that supply and demand were approximately in balance. source: oregonnews.uoregon.edu
- 05 Nov First Drive-Up Teller Windows in Chicago: The Exchange National Bank (later part of LaSalle Bank) in Chicago pioneered banking convenience by opening the first 10 drive-up teller windows, revolutionizing customer banking experience.
- 12 Nov First drive-up bank windows in Chicago: On November 12, 1946, the Exchange National Bank in Chicago opened 'Autobank', a set of ten drive-up teller windows, marking the first drive-up bank service in the city. source: en.wikipedia.org
- 29 Nov Dutch Minister initiates emergency social welfare program: On November 29, 1946, a Dutch Minister announced the initiation of an emergency social welfare program aimed at addressing the needs of citizens affected by the post-war economic crisis. This program was part of broader efforts to stabilize the country during a challenging recovery period. source: britannica.com
- 12 Dec Tide Detergent Launch: Tide detergent was launched on December 12, 1946, by Procter & Gamble. It became one of the first heavy-duty detergents and has since become a leading brand in the laundry detergent market. source: britannica.com
- 31 Dec Casio Company Founding: Engineer Tadao Kashio founds the Casio Company, which would become a global leader in electronics, calculators, and digital technology.
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