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:
“War is an ugly thing, but not the ugliest of things: the decayed and degraded state of moral and patriotic feeling which thinks nothing worth a war, is worse.... A war to protect other human beings against tyrannical injustice; a war to give victory to their own ideas of right and good, and which is their own war, carried on for an honest purpose by their own free choice—is often the means of their regeneration.”
—John Stuart Mill (1806–1873)
“The early Christian rules of life were not made to last, because the early Christians did not believe that the world itself was going to last.”
—George Bernard Shaw (1856–1950)
“But, after the war was over, just think what came to pass—
A letter, sir; and the two were safe back in the old Bluegrass.
The lad had got across the border, riding Kentucky Belle;
And Kentuck she was thriving, and fat, and hearty, and well;
He cared for her, and kept her, nor touched her with whip or spur:
Ah! we’ve had many horses, but never a horse like her!”
—Constance Fenimore Woolson (1840–1894)