They had to deal with financial difficulties brought on by sharply falling farm prices, unreasonably high import taxes, and overseas competition.
Overproduction was one of their biggest problems since a lack of demand for their products caused the price to fall steadily.
The westward extension of homestead farms and the development of new agricultural technologies brought about by industrialisation both contributed to the overproduction of crops. Farmers' answer to getting deeper in debt, whether it was to the railways shipping their produce or to the neighborhood shops where they purchased supplies, was to raise crop production each year in the hopes of making more money to pay off their debt.Prices decreased as production increased. The idea that their own overproduction was the biggest cause of their debt was entirely alien to a hard-working farmer.
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