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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.
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 percentage of Americans who live on a farm diminished from nearly 25% during the Great Depression to about 2% now, [8] and only 0.1% of the United States population works full-time on a farm. As the agribusiness lobby grows to near $60 million per year, [ 9 ] the interests of agricultural corporations remain highly represented.
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.
An Act to establish a federal farm board to promote the effective merchandising of agricultural commodities in interstate and foreign commerce, and to place agriculture on a basis of economic equality with other industries. Acronyms (colloquial) AMA: Nicknames: Farm Relief Bill: Enacted by: the 71st United States Congress: Effective: June 15 ...
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.
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.
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.