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When the New York Stock Exchange crashed in October 1929, the United States dropped sharply into a major depression. The world was in wide demand for agricultural goods during World War I, but they had rapidly decreased after the war and rural America experienced a severe depression throughout most of the 1920's and even on into the 1930's. One of the major losses for agriculture was due to banks foreclosing farm mortgages because the farmers could no longer pay their mortgages. By the early 1930's, thousands of American farmers were out of businesses. Major businesses, however, had to increase profits through most of the decade although wages remained low and workers were unable to buy the goods they had helped produce...
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