1673day.year
English lord John Berkeley sold his half of New Jersey to the Quakers
In 1673, Lord John Berkeley sold his half of the Province of New Jersey to a group of Quaker investors, paving the way for Quaker settlement.
Originally granted to Lord Berkeley and Sir George Carteret in 1664, New Jersey was divided into East and West Jersey. Financial difficulties led John Berkeley to sell his share of West Jersey to Quaker proprietors on March 18, 1673. The sale transferred governance to Quaker leaders who established policies of religious tolerance and equitable land distribution. This change attracted settlers seeking freedom of worship and rights under William Penn's guidance. The Quaker proprietorship would influence the colony's progressive political and social structures. Berkeley's decision thus reshaped New Jersey's early development and left a legacy of pluralism in the region.
1673
John Berkeley
New Jersey
Quakers
1938day.year
Mexico creates Pemex by expropriating all foreign-owned oil reserves and facilities.
Mexico nationalized its oil industry in 1938, founding Pemex and expropriating foreign-held oil assets in a bold assertion of economic sovereignty.
On March 18, 1938, President Lázaro Cárdenas announced the expropriation of all foreign-owned oil reserves and facilities, creating Petróleos Mexicanos (Pemex).
This move followed labor disputes and perceived inequities in revenue sharing with foreign companies.
The nationalization sparked international debate, with the British and Dutch governments lodging protests.
Yet, in Mexico it was celebrated as a triumph for economic independence and social justice.
Pemex became a symbol of national pride and a cornerstone of Mexico's energy sector for decades.
The action reshaped global oil politics and influenced other nations to consider resource nationalism.
1938
Pemex
expropriating
1968day.year
Gold standard: The U.S. Congress repeals the requirement for a gold reserve to back US currency.
The US Congress removes the requirement for gold reserves to back the US dollar, ending the gold standard.
On March 18, 1968, the United States Congress voted to repeal the gold reserve requirement that had supported the US currency since the 1930s. This legislative change marked a significant shift in monetary policy, allowing the dollar to float freely against other currencies. The repeal aimed to provide greater flexibility in managing the nation's money supply and responding to economic fluctuations. By severing the link between paper money and gold, policymakers sought to control inflation and support post-war economic growth. The decision influenced international finance, contributing to the eventual collapse of the Bretton Woods system. It paved the way for the era of fiat currencies and modern central banking practices.
1968
Gold standard
U.S. Congress
US currency