State Historical Society of Iowa

"Aftermath of inflation--a foreclosure tale in Iowa" 1930s

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Courtesy of Library of Congress, "Aftermath of inflation--a foreclosure tale in Iowa" 1930s

Description

Spurred on by Herbert Hoover's push to feed US allies during World War I, agricultural production increased. With demand and prices high, farmers met the challenge set by Hoover, often borrowing money to buy more land and new equipment to do so. However, when the war ended, US allies were able to produce more food, dropping global demand for US crops.. Global prices for food dropped. Those farmers who went into debt to increase production struggled during the 1920s. When the stock market crashed in 1929, banks tried to collect on war-era farm loans. Local newspapers were filled with bankruptcy notices and advertisements for farm foreclosure sales, as banks seized property and equipment. Between 1930 and 1935, 750,000 family farms were lost to foreclosure across the country. The scene depicted in the image was a common one, with farmers attempting to block a farm sale and police trying to make sure the sale happened.

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Source Dependent Questions

  • Whose perspective was the image shot from? What evidence do you have for this perspective?
  • Consider the size of the crowd gathered to stop the sale of the farm. How did this show the tension between farmers and banks? How do you think this might have influenced farmers' opinions on New Deal programs?
  • Reflect on the context for why farmers increased their production prior to the Great Depression. How do you think this might have influenced their opinion on the relationship between the government and citizens?

Citation Information

United States Office Of War Information. Inflation. Aftermath of inflation--a foreclosure tale in Iowa in the early s when "the bottom fell out of everything." Military police were on hand to keep farmers from preventing the auction. Between 1930 and 1940. Photograph. Courtesy of Library of Congress Courtesy of Library of Congress