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Farmers In The 1980's Essay

Decent Essays

Elizabeth Jones
Ag Business
Mrs. Miller
10/31/17
Farm Crisis of the 1980s Farmers in the 1980’s were faced with many challenges due to the farm crisis. Farmers in the Midwest were the most widely affected in the beginning but quickly rippled to other areas. Farmers were in desperate need of a way out of the devastation. Many people who relied on their farm and on agriculture struggled in the 1980’s. WWII was the fire that lit the Farm Crisis of the 1980’s. WWII brought forth many new advances in all aspects of agriculture. New farm equipment, pesticides, seeds, and fertilizers made it easier for the everyday life of a farmer. Greater efficiency and productivity were the result of the new inventions. In the 1950’s and 1960’s there was a massive …show more content…

When doing that, interest rates rose higher than anyone has seen since the Civil War. Not only did interest rate rise, the lending rate rose also. It rose from 6.8 percent all the way to 21.5 percent in five years. Everyone in every part of the world was effected one way or another by this disaster, but farmers and rural bankers were especially hurt. Farmers had to borrow money for everything in the 1980’s. They had to borrow it for land, seed, equipment, housing and everyday life. The US farm debt quickly doubled when everyone started borrowing money for everything. Young farmers, who were just getting started, normally had to borrow huge lump sums of money at a time to get started. Farmers who had to borrow money and were in debt were usually the first to go out of business. “In 1935, the number of farms in the United States reached an all-time high of 6.8 million. By the mid-1980s, only 2.2 million farms remained.” (Iowa Public Television) The number of farms drastically went down and most of the farmers were out of luck. To survive and provide for their families, many farmers had to move closer to town and get jobs in factories or other things. With so many farms shut down and no need for farm equipment or supplies, therefore many factories and store went out as well. Thus there was nowhere for farmers to

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