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100 Years Ago this Month

August 6, 2024

Entrepreneur & Author
JeffCorbett.com

The month of August has been home to many historical events over the years. From our perspective, history provides context for current events, helping us understand why the world is the way it is today while encouraging critical thinking and analytical skills. Therefore, we think it remains exceptionally important to  present and successful business planning. Besides, it can be fun to look back.

Here’s a look at some that helped to shape the world 100 years ago in August 1924.

Charles Ponzi

Confidence man Charles Ponzi is released from prison in Plymouth, Massachusetts on August 6. Ponzi served less than four years of a five-year sentence for financial crimes.

Charles Ponzi was an Italian-born swindler and con artist who became infamous for his fraudulent investment scheme, which came to be known as a “Ponzi scheme.” Born in 1882 in Lugo, Italy, he emigrated to the United States in 1903. Ponzi’s scheme involved promising investors extraordinary returns on their investments, In reality, Ponzi paid earlier investors with the money from new investors, rather than from profit earned by the operation of a legitimate business. This kind of scheme relies on a constant influx of new investment to keep the returns flowing to earlier investors. Eventually, when the pool of new investors dries up, the scheme collapses.

Ponzi’s scheme collapsed in 1920, leading to his arrest and conviction for mail fraud. He served time in prison and was later deported to Italy. His name has since become synonymous with this type of fraudulent financial scheme.

Calvin Coolidge

The earliest sound film footage of an American president is recorded on August 11 when Lee de Forest films U.S. President Calvin Coolidge on the White House lawn. De Forest uses his experimental Phonofilm process to make the recording.

Senatorial Disorderly Conduct

United States Senator Nathaniel B. Dial and John J. McMahan, his challenger for the Democratic Party nomination in an upcoming election, are each arrested for disorderly conduct in South Carolina on August 20. Dial approached McMahan brandishing a chair during a campaign meeting that became contentious.

Gubernatorial Nominee Gored

Andrew S. Anderson, the Democratic Party nominee for South Dakota Governor, is gored by a bull on his property on August 11. Anderson does not survive the attack.

Women Athletes Compete

Women from six European nations compete in the first Women’s International and British Games in London on August 4. The competition is held because track and field events at the Summer Olympics were limited to men only.

Archie Bunker is Born

John Carroll O’Connor is born on August 2 in Manhattan. O’Connor would become one of the most memorable television actors of all time, notably portraying “Archie Bunker” in the sitcoms “All in the Family” and “Archie Bunker’s Place” in the 1970s and early 1980s.

Hope you enjoy this edition and have a great week!

me

About The Publisher

Jeff Corbett
As entrepreneur, author and magazine publisher with over 25 years’ experience in the global marketplace, I enjoy writing as an advocate for international business and personal freedoms. Thanks to my experiences building businesses I also have a tremendous interest in reading or writing about motivation and self-discipline.