English & Literature

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What happened to wheat production and wheat prices in the late 1800s? What effect did these changes have on farmers? (Hints to get you thinking: when do farmers spend money on their business, when do they eventually make money off of their business, what happens to businesses that spend more money than they make?)

Asked by Evelinka on 16 Jun 15:11

Last updated by Cat on 16 Jun 17:40

1 Answers

Answered by Cat on 16 Jun 17:40

This is only a short answer space. The application of the Corn Law restrictions in 1820 effectively shut BNA wheat out of British markets, causing a disastrous drop in wheat prices and land values. With the fixing of preferential duties for BNA wheat in 1825, prices and export volumes rallied, but the market collapsed in 1834-35.