Table of Contents
What were some of the difficulties that the farmers had?
Indeed, at the close of the century of greatest agricultural expansion, the dilemma of the farmer had become a major problem. Several basic factors were involved-soil exhaustion, the vagaries of nature, overproduction of staple crops, decline in self-sufficiency, and lack of adequate legislative protection and aid.
What would happen to farmers who failed to pay their debts?
As a result local sheriffs seized many farms and some farmers who couldn’t pay their debts were put in prison. These conditions led to the first major armed rebellion in the post-Revolutionary United States.
What will happen to the world if farmers don’t exist?
There will be no food for the whole country, and it may end up very badly, People will die due to starvation, They may eat fish, eggs, chicken, but they won’t get their Vegetable requirements. Thus, leading to malnutrition, Economic stability of the country will fall down too.
What happened when farmers defaulted on their loans?
Many lost their farms when banks foreclosed and seized the property as payment for the debt. As farmers began to default on their loans, many rural banks began to fail. Auctions were held to recoup some of the banks’ losses. With falling prices and rising debt, though, thousands of farmers lost their land.
Why do farmers not make much money?
For the same reasons that farmers throughout history have not been able to make money. Their particular product is homogenous across producers, and almost perfectly substitutable with other products. Farmers have essentially no market power. No market power, no profits.
What would happen if the farmers stop growing the food?
If farmers will stop growing crops, the food sources will not be available and people, animals will die because of starvation. Moreover, growing same kind of seeds and crop on the same land will extract the same minerals from the soil each time and a result the soil will be deprived of these minerals.
What did farmers do when they couldn’t pay their loans and their farms were repossessed?
The Federal Farm Bankruptcy Act of 1934, also known as the Frazier-Lemke Farm Bankruptcy Act, enabled some dispossessed farmers to regain their land even after foreclosure on their mortgages.
How many farmers failed to pay their mortgage and lost their farmland between 1930 1934?
1930-1934—Nearly 1 million farmers failed to pay their mortgages and lost their farms.