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Problems Facing American Farmers

Page history last edited by Mr. Hengsterman 4 years, 1 month ago

 

 

The Tragic Death of  President James Garfield

September 19, 1881

 

 



 

 

 

Mother Nature: Unreliable irrigation,  bug infestations, drought and flood erosion

Currency Issues:  Rise in big business in the northeast created a shortage in currency  (leads to high interest rates – up to 40%)   A Review of Banking History
Low inflation and a scarcity of paper money increased farmers’ debt burden during the 1880s, while decreasing real wages and crop prices

 

Taxes:  Farmers can’t hide land and property the way the wealthy can hide stocks and bonds - property taxes were high!

 

"To add to their miseries, the soil-tillers were gouged by their government—local, state, and national. Their land was over assessed, and they paid painful local taxes, whereas wealthy easterners could conceal their stocks and bonds in safe-deposit  boxes." American Pageant p.611

 

Tariffs: Set up to protect our American industries,  but not to protect farmers who end up paying higher prices for goods  Review of Tariff

Single Cash Crops: Great when prices are high;  disaster when prices are low - Can lead to bankruptcy Farmer Cartoon
Crop Specialization

 

Storage and shipping fees:  Farmers had to store crops prior to shipping. Railroads owned the grain elevators and  charged very high prices. It in some cases it will cost more to store and ship the grain then the crop is worth

 

 

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