Limits to prosperity (T1) Flashcards
How much had prices risen during the War for farmers?
25%
How much did wheat prices fall after the War?
Wheat prices fell from $2.5 to $1 per bushel
How did Prohibition impact farmers?
Cut the demand for grain previously used in the manufacture of alcohol.
How did higher living standards impact farming?
Higher living standard meant Americans ate more and comparatively fewer cereals.
How did the growth of synthetic fibres impact farming?
Growth of synthetic fibres reduced the market for natural ones, such as cotton.
How did technological advances impact farming?
Meant more crops could be produced on the same or even a reduced acreage.
How many acres were taken out of production during the 1920s?
13 million acres.
How much did farm population fall by?
5%
How much did production increase by?
9%
How did the use of tractors impact farming?
Meant fewer horses were necessary and this in turn meant less demand for animal food.
How did new techniques and mechanisation cause a problem in farming?
Because farmers became more efficient with techniques such as improved fertilisers and animal husbandry, they produced too much.
How many farms were operating at a loss?
66%
Who suffered the most from problems for farmers?
Wage labourers, tenant farmers and share croppers - mainly Black Americans.
Why was overproduction such a problem for farmers?
Too much food meant prices were too low.
Why were farmers reluctant to underproduce?
- Because they could not trust their neighbours to do the same.
- They sought guaranteed prices, with the state possible selling their surpluses abroad for any price they could get.
How much were American farmers producing?
Produced so much that there were surpluses despite the rising population.
Which farmers were impacted the worst?
Mainly small-scale farmers who went bankrupt.
What was government policy towards farms?
To encourage farms to co-operate together and market their produce.
What was the Act the government introduced towards farms?
The Agricultural Credits Act 1923
What was the Agricultural Credits Act 1923?
Funded 12 Intermediate Credit Banks to offer loans to co-operatives.
How beneficial was the Agricultural Credits Act 1923?
- Little benefit to small farmers, last thing they needed was more debt.
- Large agricultural businesses could afford to take loans to market their produce more effectively.
What was the rate of foreclosure of farms?
- Between 1913 and 1920 it was 3.2 per 1,000
- Risen to 17.4 per 1,000 by 1926.
How many women held professional positions in the USA?
By 1930, only 150 women dentists and fewer than 100 female accountants.
When were women granted the right to vote?
August 1920.
