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Did Everyone Share The Economic Boom
Did Everyone Share The Economic Boom
Did Everyone Share The Economic Boom
economic boom?
Problems
Farming
Industr
y
Tradition
al
Industrie
s
Farming Industry
US farm income dropped from 22 billion in 1919 to 13
billion in 1928
Declining exports
After the war, Europe imported less food
Europe was poor + Europe stopped buying in response to
Americas tariffs
New Competitors
Competing against the highly effective Canadian farmers
US population was decreasing so there were less mouths to
feed
Falling Prices
Prices fell as farmers desperately tried to sell their products.
Traditional Industries
Coal Industry
Over production Price was reduced so was profit
Losing ground against new sources of power (electricity, oil)
Although electricity used coal, new machines were very
efficient
People switched to electricity and if they used coal, they used
very Little