Ex

  History (NTSE/Olympiad)  

3. Peasants and Farmers

What happened to the poor ?

For the poorer farmers, machines brought misery. Many of them bought these machines, imagining that wheat prices would remain high and profits would flow in. If they had no money, the banks offered loans. Those who borrowed found it difficult to pay back their debts. Many of them deserted their farms and looked for jobs elsewhere.
Mechanisation reduced the need for labour. After 1920s. most farmers faced trouble. Production had expanded so rapidly during the war and post-war years that that there was a large surplus. Unsold stocks piled up, storehouses overflowed with grain, and vast amounts of corn and wheat were turned into animal feed. Wheat prices fell and export markets collapsed. This created the grounds for the Great Agrarian Depression of the 1930s that ruined wheat farmers everywhere.

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