Farmers compete w/ low prices of wheat in Argentina, Russia, etc (1880s) (jul 30, 1880 – jan 1, 0)
Description:
Once farmers bound to one-crop economy, same leaky boat w/ S cotton growers, Standard of living dependent on prices; Grain farmers couldn’t control own destiny, price of product determined by world output, Compete w/ wheat fields in Argentina, Russia, etc → prices fall if they do well, Low prices & deflated currency worried farmers in N, S , and W; Debt in 1890 - wheat fell to 50 cents a bushel, had to pay back more w/ interestAdded to timeline:
Date:
jul 30, 1880
jan 1, 0
~ 10 years