Arthur Nisbet (1901 - 1992)

Refresh this page to see various historical events that occurred during Arthur's lifetime.

In 1901, in the year that Arthur Nisbet was born, John Pierpont "J. P." Morgan created U.S. Steel. J.P. Morgan was an American banker and financier who dominated U.S. business at this time. He had previously overseen the creation of General Electric, as well as International Harvester and AT&T. He has been referred to as America's greatest banker. U.S. Steel was the first billion dollar company in the world, worth $1.4 billion in 1901.

In 1916, by the time he was merely 15 years old, in June, the U.S. Congress authorized a plan to expand the armed forces over the next five years. Called the National Defense Act of 1916, the national law expanded the National Guard and Army (the Army added an aviation unit), created the Reserves, and gave the President expanded authority to federalize the National Guard. It also allowed the government to stockpile, in advance, materiel to be used in wartime.

In 1921, at the age of 20 years old, Arthur was alive when in May, the Emergency Quota Act - or Emergency Immigration Act - was passed. The law restricted the number of immigrants to 357,000 per year. It also established an immigration quota in which only 3 per cent of the total population of any ethnic group already in the USA in 1910, could be admitted to America after 1921. Although the Act was supposed to be temporary, it stayed in effect until 1965.

In 1983, Arthur was 82 years old when on August 30th, the Soviet Union claimed that a South Korean Boeing 747 jetliner (Flight 007), bound for Seoul from New York City, had strayed into Soviet airspace. Saying that they believed it to be a U.S. spy plane, the passenger jet was shot down by a Soviet SU-15 fighter - after it had tracked the airliner for two hours. All 269 passengers (including a U.S. Representative from Georgia) and crew were killed.

In 1992, in the year of Arthur Nisbet's passing, on February 1st, US President George Bush and President Boris Yeltsin of Russia jointly announced an end to the Cold War, proclaiming a new era of "friendship and partnership". At Camp David in Maryland, they reviewed ways to jointly reduce nuclear arms and support reforms in Russia but no agreement was reached at that meeting.