Excerpt from Fruit Markets in Eastern Asia
The post-war agricultural depression in the staple crops brought many far-reaching effects. It not only affected the farmers growing those particular crops which declined in purchasing power but also had other secondary influences upon far-distant farmers growing other commodities.
After the world war, farmers. In California who were growing the staple crops such as wheat, barley, corn, beans, and grain sorghums, felt the immediate effect of the low national prices for these crops. Farmers who were growing fruits and other California specialties did not, however, experience such declining prices.’ Peaches, prunes, plums, pears, grapes, and figs, remained high in price for some years. Many persons expected these high prices to continue indefinitely.
Not unnaturally, farmers growing the low-priced staple crops decreased their acreages of these commodities. And, where facilities were at hand, hastened to plant. Those fruit cr0ps which were then at a higher price level. The facilities needed were, first, land suitable for the crop, second, water for its irrigation, and third, finance to carry the slowly maturing orchard into bearing. In general, money was easily available from banks to farmers desiring to plant these crops. Bankers, like other persons, expected our specialty fruits to continue at a high price level.
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