On this day

May 27, 1933

Revisit the news, notable people, and historical moments connected to this date.

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Headlines from May 27, 1933

PASS INDUSTRY BILL IN HOUSE, 323-76; SALES TAX BEATEN; Members Uphold Income and Excise Levies, 265 to 137, Under Drastic Rule. CHANGE LIKELY IN SENATE Movement for Smaller Increase in Normal Levies Is Gaining Headway There. REPEAL CARRY-OVER LOSS Deductions Would Be Allowable Only for Taxable Year in Which They Occur. PASS INDUSTRY BILL IN HOUSE, 324-76

By Special to THE NEW YORK TIMES

House passes increase; section of 1932 act permitting net loss carryover repealed

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Notable Births

Edward S. Rogers Jr.

1933Edward Samuel Rogers, Canadian businessman (died 2008)[†]

Edward Samuel "Ted" Rogers Jr., was a Canadian businessman and philanthropist who served as the president and CEO of Rogers Communications. He was the fifth-richest person in Canada in terms of net worth.

1933Manfred Sommer, Spanish author and illustrator (died 2007)[†]

Manfred Sommer was a Spanish comics artist, best known for the reporter comics series Frank Cappa.

Notable Deaths

Achille Paroche

1933Achille Paroche, French target shooter (born 1868)[†]

Nicolas Achille Paroche was a French sport shooter who competed in the 1900 Summer Olympics and 1920 Summer Olympics.

Historical Events

New Deal

1933New Deal: The U.S. Federal Securities Act is signed into law requiring the registration of securities with the Federal Trade Commission.[†]

The New Deal was a series of wide-reaching economic, social, and political reforms enacted by President Franklin D. Roosevelt in the United States between 1933 and 1938, in response to the Great Depression, which had started in 1929. Roosevelt introduced the phrase upon accepting the Democratic Party's presidential nomination in 1932 before winning the election in a landslide over incumbent Herbert Hoover, whose administration was viewed by many as doing too little to help those affected. Roosevelt believed that the depression was caused by inherent market instability and too little demand per the Keynesian model of economics and that massive government intervention was necessary to stabilize and rationalize the economy.