1929

1929 was a calendar year in the late 1920s, during a period often associated with the Roaring Twenties in parts of the world. Economically, many countries experienced growth and urbanization, while politically and socially tensions persisted across continents. The year is remembered for events that would redefine global economics, politics, and culture in subsequent decades.

The defining events were financial. In late October, U.S. stock markets suffered a catastrophic collapse: Black Thursday on October 24 and Black Tuesday on October 29, 1929. The crash triggered a loss of confidence, credit tightening, and widespread bank failures, precipitating the onset of the Great Depression. Although the deepest hardships would come in the early 1930s, 1929 is widely cited as the turning point that started a prolonged global economic crisis.

International and cultural events also occurred. On February 11, the Lateran Treaty established Vatican City as an independent state, resolving the Roman Question. On February 14, the St. Valentine’s Day Massacre highlighted the reach of organized crime in Chicago. May 16 marked the first Academy Awards ceremony in Hollywood, recognizing achievements in film. The Philadelphia Athletics won the 1929 World Series against the Chicago Cubs.

In postwar diplomacy, Germany and other nations continued reparations discussions, with the 1929 Young Plan proposing a restructured settlement. The year also saw ongoing advances in media, arts, and technology that reflected the late 1920s cultural dynamics.

1929 thus stood at a crossroads of affluence and hardship, setting the stage for drastic social and economic change in the 1930s.