USA HISTORY

Detailed explanation-1: -The challenges that many American farmers faced in the last quarter of the nineteenth century were significant. They contended with economic hardships born out of rapidly declining farm prices, prohibitively high tariffs on items they needed to purchase, and foreign competition.

Detailed explanation-2: -Many attributed their problems to discriminatory railroad rates, monopoly prices charged for farm machinery and fertilizer, an oppressively high tariff, an unfair tax structure, an inflexible banking system, political corruption, corporations that bought up huge tracks of land.

Detailed explanation-3: -They concerned farmers’ declining incomes and fractious business relationships primarily. First, farmers claimed that farm prices were falling and, as a consequence, so were their incomes. They generally blamed low prices on over-production.

Detailed explanation-4: -Farmers were severely affected by general economic trends such as deflation and changing supply and demand in the market. They often blamed Wall Street traders and bankers for the lower prices they received, and for the high interest rates they paid on loans.