1951-1970

By $tephen21

  • 1951

    The Experimental Breeder Reactor No. 1 located at the National Reactor Testing Station near Arco, Idaho, produces the first electric power from a nuclear reactor.

  • 1952

    The Atomic Energy Commission detonates the first thermonuclear device, code-named "Mike," at Enewetak Atoll in the Pacific. The device explodes with a yield of 10.4 megatons.

  • 1953

    Dwight D. Eisenhower is inaugurated President.

  • 1954

    The Navy launches the first nuclear-powered submarine, U.S.S. Nautilus.

  • 1955

    More than 1,400 scientists from 73 nations attend the first United Nations-sponsored International Conference on the Peaceful Uses of Atomic Energy held in Geneva, Switzerland.

  • 1956

    Minimum wage of $1 per hour in effect.

  • 1957

    Commercial banks authorized to increase interest rate on savings accounts from 2-½ percent to 3 percent.

  • 1958

    Stock margin requirements cut from 70 percent to 50 percent.

  • 1959

    Discount rate raised from 2-½ percent to 3 percent.

  • 1960

    Discount rate lowered form 4 percent to 3-½ percent.

  • 1961

    UAW-GM strike.

  • 1962

    West Coast maritime strike.

  • 1963

    President Kennedy assassinated.

  • 1964

    UAW strike against GM.

  • 1965

    Discount rate raised from 4 percent to 4-½ percent.

  • 1966

    Increased social security taxes in effect.

  • 1967

    SST program given Presidential approval.

  • 1968

    Wage base for social security contributions raised form $6,600 to $7,800.

  • 1969

    Social security contribution rate increased to combined 9.6 percent.

  • 1970

    13-week extended duration unemployment benefits in effect.