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Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.
What Happened? On this day in 1935, the U.S. Treasury issued the first U.S. savings bonds.
Where The Market Was: The S&P 500 was trading at 8.41 and the Dow closed the day at 103.27.
What Else Was Going On In The World? In 1935, the construction of the Hoover Dam was completed and reformed drinker Bill Wilson founded Alcoholics Anonymous. The average price of a new house was $3,450.
Series A Savings Bonds: The first U.S. savings bonds were reportedly issued after Treasury Secretary Henry Morgenthau Jr. realized that the U.S. had no government-sponsored savings program similar to the ones in France and the U.K.