Also took away from the essential market from European and Latin American countries . Many people in these countries lost their jobs , as factories were not able to sell products to the United States , farmers raised their tariffs , and excluding American manufactured , farm products from the foreign market . Wilson Believed in low tariffs , had reduced to increase them and the demand was growing for higher tariffs . The nation Europe had have accumulated huge debts during World War One and borrowed massive amount of money from the United States to buy war goods .Around 1918 the total amount owed to the U.S. was 10 billion dollars . The United States lowered interest rate on loans .Europeans faced difficulties in repaying and the high tariffs in the U.S. prevented Europeans from earning the dollars they needed to pay off the loans
According to Willa Cather, the life on the plains in the west was difficult and hard. Cather adds that people had issues farming, raising animals, as well as going into debt. (Document 3) Because the farmers bought land from the rail companies, they lost a major amount of money. The cost of the land, as well as the cost of transportation of food, made the living as farmers more difficult. Also, at the time the railroad companies began to have issues, so they increased prices for shipping as well as making the middlemen take more money from the farmers.
Did Daniel Shays Find Success in His Quest to Liberate the Farmers? The 1780’s were a time that threatened many farmers’ livelihoods in Massachusetts. In this era of American history, states had much more power than the federal government had, so the state of Massachusetts had all jurisdiction over laws that could help or hurt farmers. Farmers at the time were trying start their farms in the new American country and they acquired tons of debt in the process getting the necessary equipment to start their farms. In addition to their debts, they were also taxed heavily.
The Industrial Revolution brought down the prices of crops produced by farmers, this meant that farmers were not making enough money to pay off their debts. This increasing problem was slowly digging farmers into a hole with what seemed to be no escape. To add on to their everlasting money problems, middlemen and railroad companies were price gouging the farmers. This meant, the companies were asking farmers to pay prices which had been far higher than the actual value of the products needed for the farmers to raise crops. Companies did this, because they knew that farmers could not buy their goods from other businesses due to the fact that there were not any others in sight.
According to Feason in his book, Kansas in the great depression, he said; “Price falls also had a destabilizing effect in the farm community. Farm income was suddenly reduced, and it became especially services for operators holding mortgages who feared the real burden of their debt dramatically increased. Farm closures and the desperate, even violent attempt to prevent them became increasingly common news”, (p.2). This statement is showing how difficult, it was for the farmers and other U.S. firms to export goods. And being that the farmers make up to 1/3 of the nation in the 1930’s, their decrease in export and lack of income had a big severe effect on the nation’s economy.
It would make it more difficult for American goods to compete in foreign markets, more difficult to withstand competition from foreign imports, and thus more difficult to improve our balance of payments position, and stem the flow of gold.” The phrase “it would” is used many times by Kennedy to emphasize his complaints, each time highlighting how an aspect of American society is negatively affected by the price increase. His abundant repeated use of the phrase stresses how abundant people are hurt by the companies’ decisions. In a sense, the repetition also singles out groups of people in each sentence, whether it seems he is directly sympathizing with families,
This would drastically decrease the time it took to get there. This also gave opportunities to new businessmen who would become rich off of this. With new settlements rising the economy had to become more stable. The government decided to switch to paper money, but then came a huge debate over what the currency would be backed by- silver and gold or just gold. This was bimetallism vs monometalism.Bimetallism would cause inflation, and monometalism would cause
The country was also affected because it seemed that people were working hard to build something for themselves and their families as most people felt that the government was not on the same page and in support of the needs of the people. There seemed to be a lot of animosity toward the government from those in rural areas that needed to sell for their support of their selves and to pay for labor. So can we answer the question as to how the Whiskey Tax affected the country? Yes we can but the answer would really depend on how each person supports the ideas of the current administration. The effect of this tax could be seen as a positive or a negative.
William Jennings Bryan delivered this speech on July 9th, 1896. It was known as the “Cross of Gold” speech. He wanted to use silver for the national currency and not just gold. On March 4th ,1895 a few Democrats addressed the ongoing question of “should silver be used as the national currency?” If so, then the people who believed it should needed to form organizations and take charge to make silver the national currency. People are worried that if silver becomes our national currency then they will lose money because silver does not equal up to the amount that gold it worth.
People who were free-silver thought that currency reform would end them. Other businessmen such as farm equipment producers, warehousers, and railroads victimized famers. The chapter states that General James B. Weaver polled over a million people on the subject of the Populist ticket. When it goes back to being about Bryan, it says that his speeches in The First Battle were obsessed with the free-silver issue. In 1896 Bryan got the support of an organization
The rise and fall of the Populist party all started when farmers from all over the nation gathered together and addressed some common problems that they were facing. Farmers were stuck in a bad economic cycle. Prices for their crops were falling, and unfortunately farmers often had to mortgage their farms so that they could buy more land and produce more crops in order to “flourish”. There was very little suitable land to farm and cultivate and banks were foreclosing on the mortgages of farmers who could not make the payments on their loans. Moreover, the railroads were being taken advantage of farmers by charging excessive prices for shipping and storage.
This established a modern, more unified banking system under a mixture of private and government control. The Federal Reserve System would allow members of banks to demand their reserves to draw in greater security, and made the currency and bank credit more adjustable. This made farmers furious because it was more difficult to get loans and then made the shipping and selling of crops more expensive. They wanted the seed to be lower so the could buy more and spend the same and have a silver based currency instead of the gold based. The Populists called for government ownership of railroads, arguing that they were too critical to be left in private hands.
This included the issuing of fiat greenbacks, not backed by gold, but were required to be accepted for the payment of federal debt. It was generally believed that the U.S. Government would ultimately redeem the "greenbacks" with gold. In 1869, a group of speculators, headed by James Fisk and Jay Gould, sought to profit from this by cornering the gold market. Gould and Fisk first recruited Grant 's brother-in-law, a financier named Abel Corbin. They used Corbin to get close to Grant in social situations, where they would argue against government sale of gold, and Corbin would support their arguments.
In Addition to maldistribution stood the credit structure of the economy, some farmers were in deep land mortgage debt, so they lowered their crop prices in order to regain credit, and because the farmers were no longer accountable for what they owed banks. Across the nation the banking system found themselves in constant trouble. In America both small and large bankers were concerned for their survival, so they began investing recklessly in stock markets and granting unwise loans. These unconscious decisions would lead a large consequence, such as families losing their life savings and their deposits became uninsured. “ More than 9,000 American banks either went bankrupt or closed their doors to avoid bankruptcy between 1930 and 1933.”Although
So, someone else might say that the changes in the progressive era were a result of the big industrialist changing their minds because in the end of their lives, they gave away all of their money. If the big industrialist gave away all of their money at the end of their lives, they must have felt bad about cheating their workers, so they changed the way that they treated their workers. Whoever said that would be wrong. They would be wrong because it took two acts to end monopolies, the Clayton Anti-Trust Act and the Sherman Anti-Trust Act (Whitehead,