August 7, 1956
The federal minimum wage stood at $1.00/hr that summer of 1956, and the Dow Jones sat at 499 — while the Suez Canal crisis was building overseas, with Britain, France, and Egypt locked in a standoff over control of the waterway that carried a third of the world's oil. On American screens and radio dials, "I Love Lucy" was finishing its run as the country's top-rated television show, while Gogi Grant's "Wayward Wind" held the number one spot on the pop charts for weeks that season. On July 8th, an Austrian mountaineering team made the first successful ascent of Gasherbrum II in the Karakoram range on the Pakistan-China border, one of the world's fourteen peaks above 8,000 meters, adding another entry to the short list of summits that had ever been reached by human climbers.
On the cover
Magazine Covers — August 7, 1956
NY Times Headlines — Week of August 7, 1956
Democrats To Hit G.O.P. On Mideast; Platform Pledges Of Arms To Israel And Easing Of Alien Laws Also Likely
Eden Says Nasser Is The Sole Enemy In Crisis On Suez; Asserts Britain'S 'Quarrel Is Not With Egypt, Still Less With The Arab World' Asks Nations' Support Prime Minister,In Broadcast, Also Reaffirms Aim To Use Force As Last Resort Reinforcements Continue Eden Denounces Nasser On Canal Cites 19 Acceptances Madrid Idea Ruled Out Athens Urges Delay
West Distributes Plan For Solving Dispute On Suez; Sends Proposal For World Control Unit To Nations Invited To London Talks Rights Of Egypt Cited Dulles Says President Wants Congress To Share Full Responsibility In Crisis West'S Big Three In Accord West Big 3 Issue Proposal On Suez Dulles Lunches With U.N. Chief
Peaceful Solution On Suez Stressed By White House; Congressional Leaders Get Briefing On Canal Crisis
World Events — August 1956
Time Person of the Year — 1956
On the radio
Billboard Charts — August 7, 1956
On the bookshelf
On the television
Nielsen Top 10 — 1955–56 Season
Emmy Winners — 1956
At the movies
Box Office & Oscar Winners — August 7, 1956
On the field
Sports Champions — August 7, 1956
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