Fordney Mccumber Tariff Research Paper

600 Words3 Pages
Following the end of the First World war in 1918 the American economy being one of the only industrial nations to have come out of the war without any major damage entered into Boom times. As a result of the war time production industry was growing stronger , however not all industries benefited from this booming consumer driven economy. Farmers who during the War had produced large amounts of food had made record profits by exporting food to their Allies France and Britain. With the end of the First World War the Allies returned to making their own grain cutting down in imported goods. The expansion of U.S agriculture that had taken place during the war time efforts led to overproduction and as a result there was too much food available in the US market. This made it increasingly difficult for farmers to sell their produce and many struggled to keep their farms running. With huge quantities of produce and little profit to be made from the selling of it farmers increased their spending in the hopes of producing more crops to sell, so they could make more profits. However this plan backfired on many farmers and they plummeted into huge debts that many couldn't afford to repay and as a result…show more content…
The Fordney McCumber Tariff of 1922 was a law introduced in the United States with the purpose to protect American farms and factories from foreign exports. The tariff however only made the situation that farmers were already facing worse. The tariffs meant that foreign exports to the United States were extremely expensive and therefore if Americans opted not to buy foreign goods the Foreigners would make less money from their foreign exports and therefore have less money to spend on U.S food. The result of this was a severe agricultural crisis faced by farmers across the American
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