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 world war i, war i, world and/or war:
“Fifty million Frenchmen can’t be wrong.”
—Anonymous. Popular saying.
Dating from World War I—when it was used by U.S. soldiers—or before, the saying was associated with nightclub hostess Texas Quinan in the 1920s. It was the title of a song recorded by Sophie Tucker in 1927, and of a Cole Porter musical in 1929.
“War is in truth a disease in which the juices that serve health and maintenance are used for the sole purpose of nourishing something foreign, something at odds with nature.”
—Johann Wolfgang Von Goethe (1749–1832)
“My great comfort is, that the temporary celebrity I have wrung from the world has been in the very teeth of all opinions and prejudices. I have flattered no ruling powers; I have never concealed a single thought that tempted me.”
—George Gordon Noel Byron (1788–1824)
“[Veterans] feel disappointed, not about the 1914-1918 war but about this war. They liked that war, it was a nice war, a real war a regular war, a commenced war and an ended war. It was a war, and veterans like a war to be a war. They do.”
—Gertrude Stein (1874–1946)