Chicago Onion Monopoly: The 1955 Market Manipulation and Subsequent Legislation

The Onion Futures Act is a piece of legislation in the United States that prohibits the trading of onion futures contracts. In 1955, a pair of traders acquired a substantial amount of onions and futures contracts, ultimately gaining control over 98% of the onions in Chicago. To compel growers to buy their inventory, these traders threatened to inundate the market with onions.

Benjamin Franklin’s Fugio Cent: A Call to Focus on Affairs

The initial U.S. coin to officially circulate, known as the Fugio Cent, featured the phrase “Mind Your Business” rather than “In God We Trust.” Benjamin Franklin is thought to have designed the coin, according to some sources. As a prominent and accomplished entrepreneur, historians theorize that Franklin used the term “business” in its literal sense. The intended meaning was not the later idiomatic expression “mind your own business,” but rather “focus on your matters.”

Salisbury Steak: American Dish Inspired by European Tastes and Health Advocacy

Originating in the United States, Salisbury Steak was created to cater to the preferences of European immigrants and was named in honor of Dr. James Salisbury, an advocate of a meat-centric diet for improved health. Since 1897, the term “Salisbury Steak” has been associated with a main course featuring a ground beef patty.

James Salisbury, the creator of Salisbury steak, served as a physician during the American Civil War. He firmly believed that vegetables contributed to heart disease and mental health issues, and promoted the consumption of Salisbury steak thrice daily as a means of fortifying the body and facilitating weight loss.

Cadillac’s 1930s Policy Reversal: Embracing Diversity and Boosting Sales

In the beginning of the 1930s, Cadillac had a policy that prohibited the sale of cars to African Americans. However, in 1933, Nicholas Dreystadt, a mid-level manager at General Motors, boldly interrupted a GM executive committee meeting and persuaded them to abandon this policy, advocating for marketing efforts targeting the African American community. As a result, within just one year, Cadillac experienced a remarkable sales increase of 70%.