24–October 29, stock prices suffered three multi-digit percentage drops, wiping out more than $30 billion from the New York Stock Exchange (10 times greater than the annual budget of the federal government). On December 3 U.S. President Herbert Hoover announced to the U.S. Congress that the worst effects of the recent stock market crash were behind the nation, and that the American people had regained faith in the economy. Literature, arts, and entertainment Literature of the time reflected the memories many harbored of the horrors of World War I. A major seller was All Quiet on the Western Front by Erich Maria Remarque. Remarque was a German who had fought in the war at age eighteen and been wounded in the Third Battle of Ypres. He stated that he intended the book to tell the story "of a generation of men who, even though they may have escaped its shells, were destroyed by the war." Another 1929 book reflecting on World War I was Ernest Hemingway's A Farewell to Arms, as well as Good-Bye to All That by Robert Graves. In lighter media, a few stars of the comic industry made their debut, including Tintin, a comic book character created by Hergé, who would appear in over 200 million comic books in 60 languages. Popeye, another comic strip character created by Elzie Crisler Segar, also appeared in this year. Within the film industry, on May 16 the 1st Academy Awards were presented at the Hollywood Roosevelt Hotel, with Wings winning Best Picture. Also, Hallelujah! became the first Hollywood film to contain an entirely black cast, and Atlantic, a film about the Titanic, is an early sound-on-film movie. The arts were in the midst of the Modernist movement, as Pablo Picasso painted two cubist works, Woman in a Garden and Nude in an Armchair, during this year. The surrealist painters Salvador Dalí and René Magritte completed several works, including The First Days of Spring and The Treachery of Images. On November 7 in New York City, the Museum of Modern Art opened to the public. The latest in modern architecture was also represented by the Barcelona Pavilion in Spain, and the Royal York Hotel in Toronto, at its completion the tallest building in the British Empire. Science and technology The year saw several advances in technology and exploration. On June 27 the first public demonstration of color TV was held by