VI. The World Wars and the Interwar Period, 1914–1945 > C. Europe, 1919–1945 > 15. The Scandinavian States > d. Sweden > 1923
  The Encyclopedia of World History.  2001.
The Tenants' Savings and Building Society (HSB) was founded in Stockholm. In its first decade it built 8,000 dwelling units, demonstrating the strength of the cooperative movement in Sweden (as in the rest of Scandinavia).  1
Sweden became the first country in Europe to return to the gold standard after economic recovery had begun rapidly in 1922.  2
The depression caused worker discontent, culminating in a rare episode of violence during a labor dispute in Adalen, where soldiers killed five workers.  3
1932, May 12
Economic conditions worsened with the news of Ivar Kreuger's suicide and the subsequent financial collapse of his vast financial empire. Thousands of investors were wiped out, and the political scandal that followed forced Prime Minister Carl Ekman's resignation in August.  4
Sept. 24
Per A. Hansson became premier of a Socialist government. This government did much to combat the depression by introducing large-scale public works, drastically economizing in administration, and passing a long-term unemployment insurance act (May 1934). The government also undertook a program of rearming, which appeared essential after the rise of Hitler and the rapid deterioration of German-Russian relations.  5
The Encyclopedia of World History, Sixth edition. Peter N. Stearns, general editor. Copyright © 2001 by Houghton Mifflin Company. Maps by Mary Reilly, copyright 2001 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved.