Read 1920s financial news day by day on Twitter and Substack
The Roaring 20s [Twitter, also Substack] summarizes 1920s financial news from the Wall Street Journal and the Financial Times day by day. It's a fascinating insight into the ups and downs of another era—one that ours is often held to echo with—and I won't spoil how interesting it'll get if the author keeps it up until October 2029.
On Thursday, British investors aren't swayed by Vladimir Lenin's appeal for help to alleviate a severe famine ravaging the country. A few years ago, millions of pounds went poof when Russia's sole stock exchange in St. Petersburg closed. Lenin counters the British business community by calling the famine a humanitarian crisis; old debts can be settled later. He believes his Bolsheviks will be victorious in the current Russian Civil War and promises to repay any and all goodwill soon.
Historical Fact: America ultimately answers Russia's plea for relief while Britain provides very little. Lenin's posse will soon emerge victorious and establish the Soviet Union in 1922. Russia won't have another stock exchange until 1991.
As of October 1921, the WSJ was 7 cents a copy.
DMT.NEWS
via https://www.DMT.NEWS
Rob Beschizza, Khareem Sudlow
