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and Europe.

In the American economy, agriculture was in the worst shape. The farmers had still not fully recovered from the recession of 1920-1921, which made it worse. All the farming equipment was really expensive now and mortgage incurred during the inflationary war years. Because the prices were falling, farmers weren't getting enough money and had to risk foreclosure...

Because the prices were falling, farmers weren't getting enough money and had to risk foreclosure. The textile industry, the railroad industry, and mining and lumbering industries were affected too. The textile industry suffered from the decreased demand and excess capacity. The railroad industry had to worry about the shrinking passenger revenues, stagnant freight levels, and inefficient management...

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