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Farmers believed that their economic demise resulted from the low prices which they received for their produce. Statistics validate their belief as the price of agricultural produce did fall drastically during the closing decades of the 19th century. According to the U.S. Department of Agriculture, from 1870 to 1897, wheat prices fell from $1.06 a bushel to 63¢ a bushel, corn from 43¢ to 30¢ a bushel, and cotton from 15¢ a pound to 6¢ a pound. Most of the time farmers received even less for their produce.

Farmers refused to admit it, but the primary cause of their problem was overproduction caused by increases in acreage of farm land and increased yields per acre due to improved farming methods generated by newly created agricultural colleges.

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14y ago

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