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HEADLINES ON December 2, 1931
Full News Archive
- Headline: Milk Prices Surge Amid Falling Sterling. Impact: The increase in milk prices led to a nationwide panic over dairy products, resulting in an underground milk trade. Fast forward a century, and 'milk smuggling' becomes a popular underground sport, complete with black-market cheese and butter bartering.. Fact: Fun fact: Milk was once considered a 'superfood' that could cure everything from broken bones to bad moods. Apparently, it didn't work for the economy, though..
- Headline: State Control of Canal Preferred Over Federal. Impact: Stanley Carpenter's preference for state control of canal traffic led to an explosion of state-run boat races, which became so popular they inadvertently inspired the Olympics' sailing events. Who knew canal advocacy could lead to athletic glory?. Fact: Interestingly, state-run facilities often get bogged down in red tape, which is probably why your local canal is still under construction..
- Headline: CONCLUDE ARGUMENTS ON CANNON DEMURRER; Government Counsel Pleads Need for Control of Campaign Funds by Washington.. Impact: The governmentβs push for campaign finance control led to a series of convoluted political scandals, eventually inspiring a new genre of political satire that made it onto Broadwayβ'Campaign Chronicles: A Musical of Mismanagement.'. Fact: Fun fact: The term 'demurrer' sounds like an old-timey excuse for not doing your homework, which might explain why Congress is still struggling with campaign finance laws..
- Headline: AUTO OUTPUT TO RISE.; Detroit Estimates Put December Production at 125,000.. Impact: The forecasted rise in auto output led to a booming economy, but also birthed a subculture of 'car collectors' who hoarded cars like they were rare PokΓ©mon cards, leading to an eventual shortage of parking spaces that lasted for decades.. Fact: Did you know that in some places, you could once buy a car for less than the price of a sandwich? Now you need a mortgage just to get a decent used one!.
- Headline: SETS FLIGHT RECORD, MEXICO TO CANADA; Wedell Dashes 1,200 Miles Along West Coast to Vancouver in 6 Hours 40 Minutes. HAWKS IS FORCED DOWN Gas Fumes Nearly Overcome Him in Attempting Another Mark Southward Over the Same Route. Hawks Down Without Injury. Hawks a Victim or Gas.. Impact: Wedell's record-setting flight inspired a global obsession with aviation, which somehow led to the invention of the in-flight movieβmuch to the chagrin of passengers everywhere.. Fact: The only thing more thrilling than a 1,200-mile flight is the potential for getting stuck next to a guy who insists on telling you his life story during the entire trip..
- Headline: WALKER IN DRAMATIC PLEA ASKS PARDON FOR MOONEY; ROLPH TO SPEED DECISION; MAYOR SPEAKS TWO HOURS Holds Close Attention of All as He Appeals to Reason and Emotions. LAYS STRESS ON PERJURY Points to Prisoner's Mother and Asks That Her Son Comfort Her Last Days.WALSH REVIEWS THE CASEProsecutor and Foreman ofConvicting Jury Write Beliefin Prisoner's Innocence. Walsh Gives Legal Aspects. Mooney's Mother at Hearing. WALKER ASKS ROLPH TO PARDON MOONEY Justice" His Aim in Effort. Cites Judge and Juror's New Opinion Walsh Compares Dreyfus Case. Sapiro Says Oxman Fooled All. Governor Reserves Decision. Thirty Arrested at Parade. MRS. MOONEY TAKES NEW HOPE "It'll Come True Now," She Tells Walker at End of Plea.. Impact: Walkerβs dramatic plea for Mooney's pardon became a touchstone for criminal justice reform, eventually spawning a reality series called 'Pardon Me: The Hunt for Innocence.'. Fact: The Dreyfus case comparison is a bold move; let's just hope it doesn't end with a dramatic reenactment featuring an actual sword fight..
- Headline: Democratic Majority of Three In the House Now Is Assured. Impact: The narrow Democratic majority in the House led to a series of bizarre legislative negotiations, including one infamous deal where lawmakers had to participate in a dance-off to secure votes.. Fact: Some argue that the only thing more contentious than a tight House majority is trying to agree on what to order for lunch during a meeting..
Wall Street Time Machine
PG
Procter & Gamble
Procter & Gamble - If you invested $1,000 in 1931, it would be worth $586,657 today (586.7x return)
CVX
Chevron
Chevron - If you invested $1,000 in 1931, it would be worth $474,914 today (474.9x return)
GE
General Electric
General Electric - If you invested $1,000 in 1931, it would be worth $487,500 today (487.5x return)