DailyTimeCapsule brief
October 26, 1933
On October 26, 1933, the Reichsbank announced a significant increase in its gold supply, adding 5,891,000 marks in just one week, thereby bringing its total holdings to 200,940,000 marks since June. This bolstering of gold reserves came amidst the global economic struggle of the Great Depression, which had severely impacted economies worldwide, including Germany. In the United States, the public was grappling with economic uncertainty, further complicated by political tensions. Prominent figure Will Rogers was preparing to market some gold, indicating a personal investment in the fluctuating economy. Additionally, New York City Mayor Fiorello LaGuardia received an apology from Judge Samuel Seabury, who stated that leaders like LaGuardia were not to blame for the recent suicide of reform advocate Joseph A. McCarthy, highlighting the challenges faced by politicians during this turbulent time.
Key developments
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On October 26, 1933, the Reichsbank reported a remarkable increase in its gold reserves, rising by 5,891,000 Marks within just a week. This significant boost contributed to an overall increase of 200,940,000 Marks in the bank's gold supply since June of the same year. Such financial maneuvers were part of Germany's economic strategy during a period of instability.
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On October 26, 1933, famed humorist Will Rogers announced plans to market gold as a response to the economic challenges of the Great Depression. This initiative was part of a broader movement to stabilize the economy and encourage consumer confidence. Rogers' involvement in this venture highlighted the unique intersection of entertainment and economic advocacy during a tumultuous time.
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On October 26, 1933, Seabury issued an apology concerning LaGuardia's statements related to the Willard case. LaGuardia faced criticism for suggesting that a vote for his opponent was equivalent to a vote for Roosevelt. Additionally, R. Moses publicly endorsed LaGuardia during a City Fusion Party rally.
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