1776day.year
Scottish philosopher Adam Smith publishes The Wealth of Nations, ushering in the classical period of political economy.
Adam Smith publishes The Wealth of Nations, founding modern economics.
On March 9, 1776, Scottish philosopher Adam Smith released An Inquiry into the Nature and Causes of the Wealth of Nations. This seminal work laid the groundwork for classical economics, advocating free markets, division of labor, and the invisible hand principle. Smith’s analysis contrasted mercantilist policies, emphasizing that national prosperity stems from productive activity rather than hoarded gold. His arguments influenced economic policy across Europe and North America. The Wealth of Nations remains a cornerstone of economic theory and political economy. Its insights continue to shape debates on trade, regulation, and market dynamics centuries later.
1776
Adam Smith
The Wealth of Nations
classical period
political economy
1842day.year
The first documented discovery of gold in California occurs at Rancho San Francisco, six years before the California Gold Rush.
In 1842, gold was first discovered at Rancho San Francisco, foreshadowing the California Gold Rush six years later.
On March 9, 1842, Francisco Lopez found gold flakes along Placerita Creek at Rancho San Francisco, in present-day Los Angeles County.
This marked the first documented discovery of gold in California, predating the famous 1848 Sutter's Mill strike by six years.
Lopez and his family initially kept the find secret, using the gold to buy supplies rather than sparking a rush.
News of the discovery gradually spread among Californio traders and settlers, planting the seeds of future prospecting fever.
Though small in scale at the time, the 1842 find demonstrated California's rich mineral potential.
It foreshadowed the transformative impact of the Gold Rush on California's economy, demography, and American westward expansion.
gold
California
Rancho San Francisco
California Gold Rush
1933day.year
Great Depression: President Franklin D. Roosevelt submits the Emergency Banking Act to Congress, the first of his New Deal policies.
In 1933, President Franklin D. Roosevelt submitted the Emergency Banking Act as the first major step in his New Deal reforms.
On March 9, 1933, President Franklin D. Roosevelt sent the Emergency Banking Act to Congress during the height of the Great Depression.
The legislation followed a nationwide bank holiday that temporarily closed all banks to prevent further runs and collapses.
The Act granted the President broad authority to regulate banking transactions and reopen solvent banks under Treasury supervision.
Passage in just four days restored public confidence and allowed Americans to safely redeposit their savings.
The successful implementation of the Emergency Banking Act was a cornerstone of Roosevelt's New Deal and financial reforms.
It marked a critical turning point in U.S. economic policy and the government's role in stabilizing the banking sector.
1933
Great Depression
Franklin D. Roosevelt
Emergency Banking Act
New Deal
1987day.year
Chrysler announces its acquisition of American Motors Corporation.
Chrysler Corporation reveals its plan to acquire American Motors Corporation, reshaping the competitive landscape of the U.S. auto industry.
On March 9, 1987, Chrysler Corporation announced an agreement to purchase American Motors Corporation (AMC) for approximately $1.5 billion. The deal granted Chrysler control of AMC’s prized Jeep brand, boosting its presence in the burgeoning SUV market. Industry analysts viewed the acquisition as a strategic move to diversify Chrysler’s product offerings and enhance global competitiveness. After regulatory approval, Chrysler integrated AMC’s operations and invested in the development of new Jeep models. The merger became a landmark event in automotive history, influencing future consolidation trends.
1987
Chrysler
American Motors Corporation