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Economy
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1923
June
14
Hyperinflation in Germany
On 14 June 1923 the dollar in Berlin passed 100,000 marks for the first time. By autumn it cost trillions, and German savings had been wiped out.
1924
August
16
The adoption of the Dawes Plan
On 16 August 1924 the Dawes Plan was adopted in London. It put German reparations into instalments, gave Germany a loan and opened the way out of the Ruhr.
1928
October
01
The first Five-Year Plan
On 1 October 1928 the first Five-Year Plan began. Stalin built heavy and arms industry at the expense of the countryside, and collectivisation led to famine.
1929
August
31
The Young Plan
On 31 August 1929 the Young Plan was adopted at The Hague. Reparations ran until 1988, and the Allies promised to leave the Rhineland by 30 June 1930.
October
29
Key event
The Wall Street Crash
On 29 October 1929, Black Tuesday, the New York stock market had the worst day of the crash. The Great Depression began, and it helped Hitler come to power.
1936
October
18
Göring in charge of the Four-Year Plan
On 18 October 1936 Hitler gave Göring power over the German economy. Within four years the army was to be ready for action and the economy fit for war.
1939
March
23
The German–Romanian economic agreement
On 23 March 1939 in Bucharest, Germany and Romania signed a treaty on economic relations, opening the way for the Reich to Romanian oil, grain and timber.
1941
September
27
The first Liberty ship
On 27 September 1941 the Patrick Henry, the first Liberty ship, was launched in Baltimore. By 1945 US shipyards had built 2,710 of these freighters.
1942
February
01
The end of civilian car production
In February 1942 American factories stopped making passenger cars for civilians. Detroit began building tanks, bombers, jeeps and engines.
June
03
State control of coal mining
On 3 June 1942 Churchill's government published a White Paper on coal. The state took over the running of the mines; private companies still owned them.
December
01
Gasoline rationing in the United States
On 1 December 1942 gasoline rationing covered the whole United States. The aim was not to save fuel but to save tyres after the loss of Asian rubber.
1943
February
07
Shoe rationing in the United States
On 7 February 1943 the US announced that from 9 February leather shoes would be rationed – three pairs per person a year. The army needed the leather.
September
01
The mobilisation of British manpower
According to the Ministry of Labour, 22.75 million Britons were in the forces, civil defence or war work. The country had reached the limit of its manpower.
October
19
The order for 12,000 V-2 rockets
On 19 October 1943 the German Army Ordnance Office ordered 12,000 A4 rockets from Mittelwerk. They were to be assembled by prisoners of the Dora camp.
1944
January
12
The launch of United Victory
On 12 January 1944 United Victory, the first Victory ship and a faster successor to the Liberty ships, was launched in Portland. 534 were built.
March
01
The keels of the carriers Tarawa and Kearsarge
On 1 March 1944 the keels of two Essex-class carriers were laid at Norfolk and New York. Tarawa and Kearsarge entered service only after the war, in 1945–46.
September
05
The Benelux Customs Convention
On 5 September 1944 in London the exiled governments of Belgium, the Netherlands and Luxembourg signed a customs convention that gave rise to Benelux.
November
28
The port of Antwerp opened
On 28 November 1944, 85 days after Antwerp's liberation, the first Allied convoy entered the port. The supply crisis of the armies in the west began to ease.
1945
January
11
The first convoy on the Ledo Road
In January 1945 the first convoy took the Ledo Road from India across northern Burma to China, leaving Ledo on 12 January and reaching Kunming on 4 February.
31
The opening of the Stilwell Road
At the end of January 1945 the Ledo Road joined the Burma Road. The first convoy from India drove into China and the land blockade of China was broken.
June
27
Oil from Tarakan
On 27 June 1945 the first rebuilt oil wells on Tarakan were ceremonially restarted. The airfield, the landing's main objective, opened a day later.