1721day.year
The Committee of Inquiry on the South Sea Bubble publishes its findings, revealing details of fraud among company directors and corrupt politicians.
In 1721, a parliamentary inquiry exposed massive fraud behind the South Sea Bubble, implicating company directors and high-ranking politicians in a speculative scandal.
The South Sea Bubble of 1720 was one of the first major financial crises, as speculative frenzy drove the company's share prices to unsustainable heights.
In early 1721, Parliament established a Committee of Inquiry to investigate the collapse.
On January 6, the committee released a report detailing fraudulent practices by company directors and bribery of high-ranking officials.
Several politicians were impeached, and directors were fined and expelled from Parliament.
The scandal led to reforms in government oversight of joint-stock companies and early regulations on financial markets.
It remains a landmark case of corporate and political corruption.
1721
South Sea Bubble
1847day.year
Samuel Colt obtains his first contract for the sale of revolver pistols to the United States government.
In 1847, Samuel Colt secured his first U.S. government contract to supply revolver pistols to the Army, launching Colt's transformation into a leading firearms manufacturer.
Samuel Colt, inventor of the revolver, had struggled to commercialize his design until the outbreak of the Mexican–American War.
On January 6, 1847, he signed his first contract with the U.S. government to deliver his patented revolver pistols to the Army.
This landmark order validated Colt's repeating-firearm technology and provided crucial funding for his manufacturing enterprise.
Armed with these revolvers, American troops gained a decisive advantage in close-range engagements.
The success of this contract propelled Colt's Patent Fire Arms Manufacturing Company to prominence and shaped the future of firearms development.
Colt's revolvers later became synonymous with the American West and military innovation.
1847
Samuel Colt
revolver
1930day.year
Clessie Cummins arrives at the National Automobile Show in New York City, having driven a car powered by one of his diesel engines from Indianapolis.
In 1930, Clessie Cummins showcased his diesel engine by driving a specially equipped car from Indianapolis to New York City for the National Automobile Show.
On January 6, 1930, engineer and entrepreneur Clessie Cummins arrived at New York City’s National Automobile Show after an ambitious cross-country journey. He had built a car powered by his innovative diesel engine and driven it over 800 miles from Indianapolis. This demonstration aimed to prove the reliability, efficiency, and durability of diesel technology for automotive use. Cummins’ engine featured improved fuel economy and longer service life compared to gasoline engines of the era. The successful trip garnered significant media attention and boosted investor confidence in diesel applications for trucks and machinery. Cummins’ achievement laid the foundation for what would become a leading global engine manufacturing company.
1930
Clessie Cummins
1947day.year
Pan American Airlines becomes the first commercial airline to offer a round-the-world ticket.
In 1947, Pan American Airlines pioneered global travel by introducing the first round-the-world air ticket for commercial passengers.
On January 6, 1947, Pan American Airways unveiled a groundbreaking round-the-world air ticket, allowing travelers to circumnavigate the globe by air. The comprehensive fare covered multiple stops, including major cities in North America, Europe, Asia, and the Pacific. This innovative service capitalized on Pan Am’s vast route network and the growing popularity of long-distance air travel. The new offering reduced travel time and simplified logistics for adventurous passengers and business travelers alike. Pan Am’s round-the-world ticket set a new standard in commercial aviation and underscored the airline’s reputation as an industry pioneer. It opened the door to the modern era of global connectivity, inspiring competitors to expand their own international services.
1947
Pan American Airlines
round-the-world ticket
1974day.year
In response to the 1973 oil crisis, daylight saving time commences nearly four months early in the United States.
The United States began daylight saving time nearly four months early to conserve energy after the 1973 oil crisis.
In response to soaring oil prices and shortages following the 1973 Arab oil embargo, the U.S. Congress enacted emergency energy conservation measures. On January 6, 1974, daylight saving time commenced much earlier than usual, extending until October to maximize evening daylight. While the experiment achieved modest reductions in electricity usage, it disrupted daily routines and drew mixed public reactions. The initiative demonstrated Washington's willingness to adjust national policies for energy security. Its legacy influenced later discussions on sustainable energy and government intervention in daily life.
1974
1973 oil crisis
daylight saving time