World War I
The U.S. in World War I, was a critical supplier to other Allied nations, as millions of European farmers were in the army. The rapid expansion of the farms coupled with the diffusion of trucks and Model T cars, and the tractor, allowed the agricultural market to expand to an unprecedented size.
However, with the end of the war the European soldiers returned to their farms and market for American exports shrank. Farmers and economists alike had not foreseen the drop in demand for American goods. The abundant harvest coupled with falling demand left an excess of crops and not enough profit to pay for expenditures. This downturn was only very brief, as was the entire post World War I recession in North America.
Read more about this topic: History Of Agriculture In The United States
Famous quotes containing the words war i, world and/or war:
“Viewed as a drama, the war is somewhat disappointing.”
—D.W. (David Wark)
“Of all the nations in the world, the United States was built in nobody’s image. It was the land of the unexpected, of unbounded hope, of ideals, of quest for an unknown perfection. It is all the more unfitting that we should offer ourselves in images. And all the more fitting that the images which we make wittingly or unwittingly to sell America to the world should come back to haunt and curse us.”
—Daniel J. Boorstin (b. 1914)
“The contention that a standing army and navy is the best security of peace is about as logical as the claim that the most peaceful citizen is he who goes about heavily armed. The experience of every-day life fully proves that the armed individual is invariably anxious to try his strength. The same is historically true of governments. Really peaceful countries do not waste life and energy in war preparations, with the result that peace is maintained.”
—Emma Goldman (1869–1940)