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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.
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
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.
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.
The Progressive Era (1890s–1920s) [1] [2] was a period in the United States characterized by multiple social and political reform efforts. [ 3 ] [ 4 ] Reformers during this era, known as Progressives , sought to address issues they associated with rapid industrialization , urbanization , immigration , and political corruption , as well as the ...
In 1920, 24% (218,612) of farms in the nation were Black-operated, less than 1% (2,026) were managed by Black people, and 76% (705,070) of Black farm operators were tenants. [ 22 ] The cotton industry in the United States hit a crisis in the early 1920s.
The farmer also now had to judge himself by success of being a businessman and not just a farmer. [4] It has also been noted that the farmers were upset at their depreciating status in society. While they were once a majority voice in the United States, they were now a minority due to the continued industrialization and urbanization of the nation.