LOL, I once owned a 10 year old house with cracks like that. With a full basement, it's even less a problem because you have options to jack it up, brace it, etc.
100% of 90 year old houses will have cracks in whatever foundation they have. I'd put in gutters and a french drain and then call it a day. Before you do that, though, look at the joists above the cracked area; are they still level or pivoting and pushing the wall outward?
However, I am intrigued by the 8" concrete blocks (cinder blocks?). This does not sound like a material used in the 1920s. Was the house moved or the foundation rebuilt at some point?