The International Steel Agreement was instituted in 1926 in Europe and was the first international steel cartel. Its purpose was to sustain prices, and to equitably divide up quotas amongst member states and companies, which represented around two-thirds of the world's steel exports, as well as to secure the member states' supplies of iron ore and coke, which were indispensable to their steel industries. It faced difficulties due to Nazi Germany's desire to re-arm and increased British and American exports after the Wall Street crash of 1929.
French and German trade agreement is signed
The International Steel Agreement was instituted in 1926 in Europe and was the first international steel cartel.
Historical Significance
The International Steel Agreement was instituted in 1926 in Europe and was the first international steel cartel.
Events Before
Norway's capital, Kristiania, changes its name to Oslo
Oslo is the capital and most populous city of Norway. It constitutes both a county and a municipality.
Benito Mussolini dissolves the Italian Parliament and proclaims himself dictator of Italy, taking the title Il Duce (the
Benito Mussolini dissolves the Italian Parliament and proclaims himself dictator of Italy, taking the title Il Duce (the Leader)
Actress Gloria Swanson (25) weds aristocrat Henri de la Falaise (26) in Paris, France
Actress Gloria Swanson (25) weds aristocrat Henri de la Falaise (26) in Paris, France
Heavyweight boxing champ Jack Dempsey (29) weds actress Estelle Taylor (30)
Heavyweight boxing champ Jack Dempsey (29) weds actress Estelle Taylor (30)
German lawyer and future Nazi war criminal Hans Frank (24) weds German secretary Brigitte Herbst (29) in Munich, Germany
German lawyer and future Nazi war criminal Hans Frank (24) weds German secretary Brigitte Herbst (29) in Munich, Germany, until his execution in 1946
Events After
Vernon L. Smith is born
Vernon L. Smith, American economist and nobel laureate, known for american economist and nobel laureate, was born on 1927-01-01.
Communist uprising in West Sumatra
Communist uprising in West Sumatra
Louis B. Mayer head of film studio MGM announces the creation of Academy of Motion Picture Arts and Sciences
Louis Burt Mayer was a Canadian-American film producer and co-founder of Metro-Goldwyn-Mayer studios (MGM) in 1924.
American comedian Jack Benny (32) weds American salesgirl Sadie Marks (later known as Mary Livingstone) (22) at the Clay
American comedian Jack Benny (32) weds American salesgirl Sadie Marks (later known as Mary Livingstone) (22) at the Clayton Hotel in Waukegan, Illinois, until his death in 1974
American "The Sun Also Rises" novelist Ernest Hemingway (27) and 1st wife Elizabeth Hadley Richardson (35) divorce after
American "The Sun Also Rises" novelist Ernest Hemingway (27) and 1st wife Elizabeth Hadley Richardson (35) divorce after 6 years of marriage
More from the 1920s
birth
Isaac Asimov is born
Isaac Asimov, American writer and biochemist, known for american writer and biochemist, was born on 1920-01-02.
birth
Charlie Munger is born
Charlie Munger, American businessman, known for american businessman, was born on 1924-01-01.
birth
Vernon L. Smith is born
Vernon L. Smith, American economist and nobel laureate, known for american economist and nobel laureate, was born on 1927-01-01.
Byelorussian Communist Organization is founded as a separate party
The Byelorussian Communist Organisation was a communist group in Belarus, led by Usievalad Ihnatoŭski.
Frequently Asked Questions
- What happened on August 5, 1926?
- The International Steel Agreement was instituted in 1926 in Europe and was the first international steel cartel. Its purpose was to sustain prices, and to equitably divide up quotas amongst member states and companies, which represented around two-thirds of the world's steel exports, as well as to secure the member states' supplies of iron ore and coke, which were indispensable to their steel industries. It faced difficulties due to Nazi Germany's desire to re-arm and increased British and American exports after the Wall Street crash of 1929.
- Why is French and German trade agreement is signed significant?
- The International Steel Agreement was instituted in 1926 in Europe and was the first international steel cartel.