Prior to WW2 in Europe, components were were routinely chrome plated but the high-end frames were typically nickel plated. Some have speculated needing chrome for the war effort. Others have pointed to cost. I don't know the answer.
It's always been my understanding that prior to the late 1920s the bicycle industry used nickel plating, with most manufacturers adopting chrome plating in the late 1920s or early 1930s.
I imagine that a pending war leads to a lot of reallocation of resources espcially when they are not available domestically. You want to make sure it's available for things like ball bearings and high strength steels.