Tuesday, 1 April 1930: Japan Announces it will Accept the Two-Thirds Ratio

Tokyo: 

The government of Prime Minister Osachi Hamaguchi announces that it will accept the terms of the London Naval Treaty being proposed by the United States and Great Britain, and instructs its delegates to the London Naval Conference to sign it.  This will preserve the requirement that Japan have a smaller ratio of capital ships compared to the U.S. and U.K. – a sore point among Japanese military leaders (although the ratio does improve).  The last treaty (with the 60% ratio) created a sharp rift in the Japanese navy between pro-treaty factions and nationalist admirals who wanted full parity with the other powers.  Many in Japan – in the military, the government and the public – view the reduced ratio as a national insult. 

Berlin: 

President Paul von Hindenburg gives Heinrich Bruening, his candidate to become chancellor of a new government, permission to dissolve the Reichstag and run the country under Article 48 -- the “emergency provision” -- of the German constitution, if the Reichstag doesn’t give Bruening a vote of confidence.  Armed with this, Bruening gives a curt speech in the Reichstag, telling the delegates the country needs work, not words, and action, not argument, if Germany is to dig through its financial issues.  Nonetheless, his speech is interrupted often by jeering from the communist delegates.

Elsewhere:

London:  More evidence of the Depression: the government announces that its plans to help the nation’s unemployed will cost the equivalent of US$350 million.

Washington:  More bad economic news:  William Green, President of the American Federation of Labor, testifies before Congress that 3.7 million are out of work. 

China:  Civil war resumes in China’s northern territories.  It has been brewing for weeks.  The governor of Shansi province has allied himself with a general who was a leader in Chiang Kai-shek’s nationalist army until he led a rebellion against Chiang late last year.  The two have moved their forces into Kaifeng, capital of Honan province, and into northern Shantung province, in a bid to challenge Chiang.  So far they are unopposed by government troops in the area – many of which have reportedly joined their rebellion. 

Monday, 28 October 1929: New York Stock Market Crashes Again

THE NEW YORK STOCK EXCHANGE CRASHES AGAIN

New York: 

THE STOCK MARKET CRASHES AGAIN -- DROPPING nearly 12%.  Over 9 million shares trade, the second-highest trading day on record, exceeded only by last Thursday's crash.  Today's plummet is especially demoralizing given the upbeat assessments from Wall Street bankers and President Herbert Hoover since Thursday.  

The market starts down immediately upon opening.  A small rally happens around 1 p.m., then the selloff continues, even accelerating late in the day when it becomes clear that the bankers who stymied last Thursday's avalanche would be making no further moves today.  Today's crash lacks the panicked frenzy of Thursday, but the net result at the closing bell is actually worse.  

Manchuria:  

In the ongoing border clash, Manchurian/Chinese forces* reportedly attack two Russian posts along the Argun River on the border.  In one town, the attack is preceded by heaving artillery shelling.  In another, in the Turyrock region, marauding Manchurian forces kill Russian soldiers and plunder the town before withdrawing. 

Russia: 

The communist government KILLS two more OF ITS CITIZENS, Jewish diamond merchants who allegedly smuggled diamonds out of Russia.  The government says they "defrauded" the country.  Their deaths bring the total number of Soviet citizens killed by their government in the last four days to 63.  

 

Japan: 

An assassination attempt is made on Prime Minister Osachi Hamaguchi.  Since becoming Prime Minister in July, Hamaguchi’s cabinet has been challenging nationalist military radicals whose influence over Japan is growing.  A man with a dagger, whom authorities say is deranged, jumps on the running board of Hamaguchi’s car, but he is thrown off and Hamaguchi is unhurt.

Osachi Hamaguch

Kyoto, Japan: 

The 3^rd conference of the Institute of Pacific Relations opens.  This unofficial gathering of nations with an interest in the Pacific Rim has been growing.  This year, government representatives from Japan, China, the U.S., Great Britain and 9 others are on hand.

Immediately, the dialogue is charged.  After the formal openings, China's delegation uses the first evening session to accuse Japan of interfering in China’s civil war, mistreating civilians, and assassinating a warlord in Manchuria.  The nationalist army advance on Peiking in 1927, one delegate says, was stopped "not by communists, but by Japanese troops.  Chinese civilians were maltreated and many were killed by Japanese soldiers during the Japanese occupation."

Meanwhile, Japan's delegation claims that a U.S. immigration policy from 1924, that excludes Japanese from America, is an "open wound."  "The controversy arising from American immigration legislation in 1924 is not closed," one delegate says.  "The wound so needlessly inflicted on our national honor is still open and will remain open until the matter has been rightly settled.  I think it necessary to make this plain statement because there seems to be an impression in America that the incident is as good as forgotten in Japan.  This erroneous impression is doubtless due to our courtesy and reticence on this subject in conversing with American visitors."

Germany: 

The Liberty Law* plebiscite ends tonight, and newspapers still report that it looks like it will fall well short of the 4 million votes needed to force it to the Reichstag.

* See the definitions page.

Sunday, 13 October 1929: Soviet Action Again Near Khabarovsk

Manchuria:  

SOVIET FORCES ATTACK MANCHURIA SOUTHWEST OF THE RUSSIAN TOWN OF KHABAROVSK.  In one of the largest strikes of the border conflict so far, 800 Russian troops cross the Amur River late tonight under covering artillery fire and occupy the town of Linkianghsien, at the confluence of the Amur and Sungari rivers, in Manchuria.  The soviets reportedly began artillery bombardment of the Manchurian side of the river on October 11, intensifying it late tonight in advance of the incursion.  One report says the Russians sank three Manchurian gunboats, drowning all 500 crewmen.  Manchurian/Chinese forces have reportedly been harassing Russian river traffic, laying mines and shooting at passing boats.  This attack is a reprisal.

At Lahasusu, according to official dispatches, Chinese troops are in disorderly retreat from advancing Soviet forces, which are pursuing them deep into Manchurian territory and harassing them with artillery fire.  The retreating Chinese reportedly plunder stores along the way.

Nagoya, Japan:  

Prime Minister Osachi Hamaguchi, in a speech at a political rally of his party, says he hopes the London Naval Conference, to which his country recently accepted its invitation, will achieve not only limitations in navies, but actual reduction.  Under existing naval treaty, Japan is allowed 60% as many capital naval ships as Great Britain and the United States.  "We don't resent the assignment to Japan of naval ratios inferior to those of Great Britain and America.  But that ratio must not fade below the minimum requirements for the safety of the empire.  We hope the disarmament problem is entering a brighter phase."  He says such an outcome would "keep faith with the spirit of world peace and lighten the taxation load of all peoples."

Osachi Hamaguchi