1929. After the 1929 Wall Street Crash ushered in the worldwide Great Depression, this year marked the end of a period known in American history as the Roaring Twenties. An agreement was reached in the Americas to stop the Cristero War, a Catholic counter-revolution in Mexico. The Privy Council's Judicial Committee is a British high court. It is based at the Royal Courts of Justice in London and has exclusive jurisdiction for hearing appeals from England and Wales.
The world's largest automotive exhibition opened in Detroit, Michigan. The Exposition Center on Woodward Avenue near downtown was built at a cost of $15 million (USD). It covered more than 200,000 square feet (18,600 m2) and included a motor race track.
In America, the Wall Street Crash caused mass unemployment and increased poverty. In addition, many small businesses failed, leaving millions of people without work. The U.S. government adopted policies to protect its citizens from the effects of the Depression, including federal programs that provided food and shelter to those in need. However, some historians say that these measures were not enough to overcome the severity of the crisis.
During the 1930s, many countries struggled with economic problems of their own. Many nations were unable to pay back their debts after the Wall Street Crash, which led to an international effort called the World Bank. This organization provides loans to poor countries who can't afford to repay them.
The year 1929 saw the conclusion of the Roaring Twenties and the Wall Street Crash, which kicked off the worldwide Great Depression. The influenza outbreak affected a huge number of people worldwide, killing 200,000 people in 1929.
People used more cash than they had ever before because there were no longer any banks that would honor cheques if you did not have enough money to cover them. Therefore, everyone went into debt to get what little money they could. Housing prices fell by about 25 percent across the country, which meant that many people could not pay their mortgages or other debts. There were riots in many cities including Atlanta, Chicago, and Omaha because people were unable to meet their mortgage payments.
In January, the New York Stock Exchange closed down for ten days while it tried to recover from the effects of the crash. On February 9th, the exchange reopened but only stocks that were considered safe by the SEC (Securities and Exchange Commission) could be traded. This is how the old public stock market system worked: Only big companies listed on American exchanges were able to raise capital from investors. Small businesses had no way to raise money so they could not compete with the big companies that did have access to funds.
The world wars took up much of the rest of 1929.
During the Great Depression, from 1929 to 1941, the United States and much of the world went through a period of severe economic hardship called the "Great Depression."
The decade of the 1930s also saw another phenomenon that would have an impact on future wars: Nazi Germany and Imperial Japan became armed forces.
They did so in violation of treaties with which they were already involved, thereby putting themselves outside the community of nations. The Nazis and Japanese wanted to prove that they were still great powers even though they were now weak.
Their claims were not recognized by other countries, but they tried to make up for it by being hostile toward others. The Nazis broke off relations with Japan and started building up their army. Then, in 1939, they invaded Poland, which wasn't part of the treaty with Japan. Britain and France declared war on them. Germany then declared war on France. Russia attacked Germany, killing hundreds of thousands of people in two armies that clashed near Moscow. In December 1941, after the attack on Pearl Harbor, the United States entered the war against Japan. That's when Russia joined in.