1933 (Friday) In the largest battle up to that time in the Chaco War, 4,000 troops from Bolivia stormed the trenches of 10,000 Paraguayan soldiers at Nanawa. After the failure of the American Trust Company Bank of Davenport, the newly inaugurated Governor of Iowa declared a bank holiday, temporarily closing all of the banks in that state to prevent further withdrawals. Nevada had declared the first bank holiday on October 31, 1932, and consumer confidence had stabilized after the election of Franklin D. Roosevelt as President. The Iowa action was followed by more bank failures across the United States, and more temporary closures, with Louisiana following suit on February 3 and Michigan on February 14. By March 3, half of the 48 states had declared bank holidays, and President Roosevelt made a nationwide closure on March 6, two days after taking office. A record total of 242 American banks failed in January 1933. Soviet premier V. M. Molotov and Party First Secretary Joseph Stalin issued a decree replacing the prior practice of requiring peasant farmers to deliver a percentage of their grain harvest to the state, replacing it with a flat rate. Under the former rule, "the more they produced, the more the government took". Died: Lt. Irvin A. Woodring, last of the U.S. Army's "Three Musketeers of Aviation" for their performances at air shows, in an airplane crash. His comrades, Lt. J.J. Williams and Lt. W. L. Cornelius had both been killed in 1928. January 21, 1933 (Saturday) The development of what would become the Tennessee Valley Authority was endorsed by President-elect Roosevelt after he visited Muscle Shoals, Alabama, and told an audience in Montgomery, "My friends, I am determined on two things as a result of what I have seen today. The first is to put Muscle Shoals to work. The second is to make Muscle Shoals a part of an even greater development that will take in all of that magnificent Tennessee River from the mountains of Virginia down to the Ohio and the Gulf..." The result was that electricity was brought to rural areas in seven of the southeastern United States, in Alabama, Tennessee, Mississippi, Georgia, Kentucky, North Carolina, and Virginia. January 22, 1933 (Sunday) In response to the exodus of starving peasants from the famine in the Ukrainian SSR, Stalin and Molotov issued orders directing the national police and local authorities to "stop, by all