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Leni [432]
2 years ago
15

choose the true statement about the nature of the rural economy in the late 19th century. many poor farmers owned abundant land

but lacked the money and tools to develop it. farmers endured hardship during the gilded age but were unable to organize collectively to improve their situation. most farmers grew wheat or cotton because that was all they could afford to grow. sharecroppers often worked a plot of land for several years and were then able to purchase it.
History
1 answer:
Ivan2 years ago
5 0

The true picture of the late 19th-century rural economy is how lenders and farmers used the crop-lien system to support the expense of maintaining a farm.

Sharecroppers and tenant farmers may get credit from nearby rural merchants and landlords through the crop-lien system to buy goods. This credit had punishingly high interest rates linked to it and was primarily used as a tool by the affluent planter elite to oppress recently freed slaves and underprivileged white people in the South.

Through the Crop-Lien system, the affluent planter elite was able to enslave poor white people and former slaves in figurative debt chains. The newly emancipated African Americans lacked the resources to buy the farming supplies they would need, as well as the land to do so. They were compelled to use the crop-lien system to obtain supplies on credit from nearby country merchants and rent land from plantation owners. The interest rates on this borrowing were punishing, making it hard to repay the obligation. Sharecroppers and tenant farmers who were burdened by this debt were forced to live in a never-ending cycle of barely scraping by and hardly ever producing enough to pay off that year's loan.

Learn more about Crop-Lien system here

brainly.com/question/15192709

#SPJ4

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