During World War I farmers increased production to meet the demands for food for the fighting troops. Many farmers invested their wartime profits in more land and more machinery with the thought of growing even more crops, but such plans did more harm then good. After the war, farmers were producing more than the American people could use and the price of farm goods dropped so low that many farmers couldn't make enough money to pay off their huge debts. Corn, which had sold for 70 cents a bushel in the early '20s, dropped to 10 cents a bushel. Hogs, which used to bring in nine cents, only brought in three cents per pound. Some farmers found it was cheaper to burn their corn for fuel than to haul it to market. If they couldn't sell enough to make mortgage payments, some farmers began to sell off their belongings. New machinery, that had hardly been used, had to be auctioned off before it was even paid for. On and on it went, until many farmers had to give up the entire farm. The banks and tax collectors wanted their money, but farmers didn't have any to give. In 1924 alone more than 2,500 farms were lost in mortgage foreclosure actions.
Non cooperation movement
World War I.
More crops grown then sold.
i believe it was the farming industry
Overproduction in the 1920s was primarily driven by advancements in technology and industrial efficiency, leading to increased manufacturing capabilities. The rise of consumer culture, fueled by easy credit and mass marketing, encouraged consumers to buy more goods than they needed. Additionally, agricultural overproduction occurred as farmers expanded their output in response to high prices during World War I, but subsequent demand drops led to surplus. This imbalance between supply and demand contributed significantly to the economic instability that preceded the Great Depression.
mechanization and overproduction
Yes. it was an illusion created by industrial and agricultural overproduction.
Overproduction
Nova net; True
Non cooperation movement
During the 1920s, many farmers in the United States did not prosper. Despite the economic boom in urban areas, agricultural prices fell due to overproduction and increased competition from foreign markets. Additionally, the rise of mechanization led to fewer labor needs, further straining the farming community. As a result, many farmers faced significant financial hardship during this decade.
World War I.
More crops grown then sold.
i believe it was the farming industry
the ones who did not prosper in the 1920s was African Americans and farmers
Overproduction in the 1920s was primarily driven by advancements in technology and industrial efficiency, leading to increased manufacturing capabilities. The rise of consumer culture, fueled by easy credit and mass marketing, encouraged consumers to buy more goods than they needed. Additionally, agricultural overproduction occurred as farmers expanded their output in response to high prices during World War I, but subsequent demand drops led to surplus. This imbalance between supply and demand contributed significantly to the economic instability that preceded the Great Depression.
give me 7ways farming is different today than it was in the 1920's?