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Encyclopedia of American agricultural history (1975) online; Schlebecker John T. Whereby we thrive: A history of American farming, 1607–1972 (1972) online; Skaggs, Jimmy M. Prime cut: Livestock raising and meatpacking in the United States, 1607-1983 (Texas A&M UP, 1986). Taylor, Carl C. The farmers' movement, 1620–1920 (1953) online edition
The U.S. government continued to instill inflationary policy following World War I. [1] By June 1920, crop prices averaged 31 percent above 1919 and 121 percent above prewar prices of 1913. Also, farm land prices rose 40 percent from 1913 to 1920. [2] Crops of 1920 cost more to produce than any other year.
A Revolution Down on the Farm: The Transformation of American Agriculture since 1929 (2008) Gardner, Bruce L. (2002). American Agriculture in the Twentieth Century: How It Flourished and What It Cost. Harvard University Press. ISBN 0-674-00748-4. Hurt, R. Douglas. A Companion to American Agricultural History (Wiley-Blackwell, 2022) Lauck, Jon.
The McNary–Haugen Farm Relief Act, which never became law, was a controversial plan in the 1920s to subsidize American agriculture by raising the domestic prices of five crops. The plan was for the government to buy each crop and then store it or export it at a loss.
A Revolution Down on the Farm: The Transformation of American Agriculture since 1929 (2008) Gardner, Bruce L. (2002). American Agriculture in the Twentieth Century: How It Flourished and What It Cost. Harvard University Press. ISBN 0-674-00748-4. Hurt, R. Douglas. A Companion to American Agricultural History (Wiley-Blackwell, 2022) Lauck, Jon.
A farm crisis is an American term for a time of agricultural recession, low crop prices and low farm incomes. The Interwar farm crisis was an extended period of depressed agricultural incomes from the end of the First to the start of the Second World War. The most recent US farm crisis occurred during the 1980s. [1] [2] [3]
The doctrine of parity was used to justify agricultural price controls in the United States beginning in the 1920s. It was the belief that farming should be as profitable as it was between 1909 and 1914, an era of high food prices and farm prosperity. The doctrine sought to restore the "terms of trade" enjoyed by farmers in those years.
The period of American agricultural prosperity caused by rising demand had ended by the early 1920s. While American farms continued to grow because of previous wartime price and technological advances, the European demand for American farm products declined, and prices plummeted. [1] Wheat price fell from $2.50 to under $1.00 a bushel by late 1921.