|◄ JULY ►|
|◄ 1958 ►|
|President:||Dwight D. Eisenhower (R)|
|Vice-President:||Richard M. Nixon (R)|
|House:||231 (D)||197 (R)||7 (Vacant)|
|Southern states:||98 (D)||7 (R)||1 (Vacant)|
|Senate:||49 (D)||47 (R)|
|Southern states:||22 (D)|
|GDP growth:||2.7 %||(Annual)|
|Fed discount rate:||1¾ %|
Jul 7: President Dwight D. Eisenhower signs the Alaska Statehood Act into law, allowing Alaska to become the 49th state on January 3, 1959. Eisenhower also urges Congress to act on Hawaiian statehood before the end of the year.
Jul 12: The Studebaker-Packard Corporation announces that it will drop the Packard line in 1959. At its peak before the war, Packard was the most prestigious luxury car in America. But it struggled to make a profit on low volume sales in the post-war era, and the 1957-58 recession now forces the company to devote all of its resources to modernizing the more compact Studebaker line.
Jul 15: President Eisenhower sends 5,000 U.S. Marines to Lebanon with the professed goal of protecting Americans living there and to help end Lebanon’s civil war. The move is also a counter to Gamal Nasser’s move to incorporate Lebanon and Iraq into his United Arab Republic of Egypt and Syria.
Jul 26: The Army launches its fourth and heaviest satellite to date into orbit. The 52-pound Explorer IV will explore the Van Allen radiation belts and study the effects of nuclear explosions in the Earth’s magnetosphere.
Jul 29: The National Aeronautics and Space Administration (NASA) is formally established. For the next several months, NASA will battle with the Army, Navy and Air Force over scientists, rockets, satellite programs and other resources in an attempt to bring coherence into the nation’s space efforts.