Agriculture

• Farmers suffered from debt after investment in new equipment and technology
• Sharecroppers also became destitute
• Price levels for farming goods fell - a bushel of wheat cost $2.19 in 1919 but had dropped to 90c in 1922
• As incomes fell, farmers fell behind with mortgages repayments and tax debt increased
• By 1929, farmers annual income stood at an average of $273, well below the national average of $750