According to historical news reports, 1921 was a particularly tough year, and the first farm-lobbying groups began to form, allowing agricultural producers to relay their frustrations directly to Congress.Īs a result of their efforts, the Doctrine of Parity was introduced in the mid-1920s to protect farmers by ensuring their commodities could fetch roughly the same prices they did between 19.Īccording to information from the Bureau of Labor Statistics, which monitored farm-prices parity on a monthly basis, wholesale agricultural prices declined by 67% between 19 - falling by a devastating 37% in 1930 alone on the heels of the stock-market collapse the year before.
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