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US Social Security System
The US Social Security system began levying taxes on workers’ wages.
(Econ, 8/20/05, p.23)(www.ssa.gov/history/1930.html) -
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Economic Events
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New Plane Record
Millionaire Howard Hughes set a transcontinental air record by flying his monoplane from Los Angeles to Newark, N.J., in seven hours, 28 minutes and 25 seconds. -
Japans Refusal
Japan refused to reveal naval data requested by the U.S. and Britain. -
New Jersey Market
The first nylon products, toothbrushes, were marketed in New Jersey by Du Pont. -
Bill of Rights
The Massachusetts legislature voted to ratify the Bill of Rights, 147 years after the first 10 amendments to the U.S. Constitution had gone into effect. -
US Population
The 1940 census indicates a United States population of 132,164,569 which creates a need for more goods. -
Lend Lease Act
The Lend-Lease Act is approved, which provided $7 billion in military credits for American manufactured war supplies to Great Britain and other allies -
Relocation due to War
President Franklin D. Roosevelt relocated many Japanese Americans as the war increased. -
Franklin D. Roosevelt Memorial
The Jefferson Memorial in Washington, D.C. is dedicated on the 200th anniversary of Thomas Jefferson's birth by President Franklin D. Roosevelt who changed the economy. -
G.I Bill of Rights
The G.I. Bill of Rights is signed into law, providing benefits to veterans. -
Yalta Conference
President Roosevelt, Prime Minister Churchill, and Premier Josef Stalin hold the Yalta Conference in the Soviet Union which allowed for communication. -
Mine Workers Strike
Four hundred thousand mine workers begin to strike, with other industries following their lead. -
Truman Doctrine
The Truman Doctrine is announced to the U.S. Congress. When passed it would grant $400 million in aid to Greece and Turkey to battle Communist terrorism -
Blockade
A counter blockade by the west was put into effect, as well as a British and U.S. airlift of supplies and food, until both blockades were lifted on September 30, 1949. -
NATO
NATO, the North American Treaty Organization, is formed by the United States, Canada, and ten Western European nations. The treaty stated that any attack against one nation would be considered an attack against them all. -
Credit Card
In 1950, the first modern credit card was introduced, which would eventually change the financial lives of every American in the years to come. -
Color TV
In 1951, color tv was introduced, bringing life-like shows into American homes. -
Great Smog
London suffered through the Great Smog of 1952, with deaths numbering in the thousands. -
Jospeh Stalin Death
Soviet dictator Joseph Stalin died, and Julius and Ethel Rosenberg were executed for espionage which cause many nations to suffer. -
US Intervention
Eisenhower warned against US intervention in Vietnam which made the economy struggle due to the war. -
Disneyland
After years of planning, Walt Disney's very first theme park Disneyland opened its gates at 2:30PM on Sunday July 17, 1955 in Anaheim, California. -
Nuclear Power School
The US Navy established its first nuclear power school at Submarine Base, New London, Connecticut. -
Electric Watch
The Hamilton Watch Company was the first to introduce an electric watch in Lancaster, Pa.
