- US President Truman approves the Marshall Plan giving financial aid to 16 European countries.
- Columbia Records introduces the 33 1/3 LP ("long playing") record. It allows listeners to enjoy 25 minutes of music per side, compared to the four minutes per side of the standard 78 rpm record.
- "The Treasure Of The Sierra Madre" Directed by John Huston, with Humphrey Bogart hits the theaters.
- Famous Births ... Bernadette Peters, James Taylor, Richard Simmons.
- Deaths ... Babe Ruth, Orville Wright.
- In the World Series: The Cleveland Indians defeat the Boston Braves, 4 games to 2.
- A movie ticket cost 60 Cents.
- Earthquake in Turkmenistan USSR Kills 110,000
- India leader Mahatma Gandhi assassinated.
- 1 million households own Televisions was 5,000 just 3 years earlier.
Historical Highlights of 1948 ...
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