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The cotton industry in the United States hit a crisis in the early 1920s. Cotton and tobacco prices collapsed in 1920 following overproduction and the boll weevil pest wiped out the sea island cotton crop in 1921. Annual production slumped from 1,365,000 bales in the 1910s to 801,000 in the 1920s. [23] In South Carolina, Williamsburg County ...
The cotton industry in the United States hit a crisis in the early 1920s. Cotton and tobacco prices collapsed in 1920 following overproduction and the boll weevil pest wiped out the sea island cotton crop in 1921. Annual production slumped from 1,365,000 bales in the 1910s to 801,000 in the 1920s. [23]
Cotton is a water-intensive crop, and its cultivation often leads to water depletion in regions where water resources are already scarce. Additionally, cotton farming is associated with soil degradation, pesticide use, and loss of biodiversity. These environmental issues have prompted a growing interest in sustainable cotton production.
Cotton prices kept going up as the South remained the main supplier in the world. In 1860, the US shipped 3.5 million bales worth $192 million. [125] [126] After the American Civil War, cotton production expanded to small farms, operated by white and black tenant farmers and sharecroppers.
The early 1920s were especially difficult financially in cotton growing regions. The boll weevil, a beetle that feeds on cotton buds and flowers, had migrated into the United States from Mexico in the late 19th century and had infested all U.S. cotton-growing areas by the 1920s, devastating the industry and the people working in the American South.
The U.S. government continued to instill inflationary policy following World War I. [1] By June 1920, crop prices averaged 31 percent above 1919 and 121 percent above prewar prices of 1913. Also, farm land prices rose 40 percent from 1913 to 1920. [2] Crops of 1920 cost more to produce than any other year.
In the 1920s and 1930s, the company operated one of the largest cotton plantations in the Mississippi Delta, with headquarters in Scott, Mississippi. [3] In the latter half of the 20th century, the company divested its farm lands, concentrated on research and development of cotton and soybean seeds, and became world-renowned for its development ...
The Lancashire Cotton Corporation was a company set up by the Bank of England in 1929, to rescue the Lancashire spinning industry by means of horizontal rationalisation. In merged 105 companies, ending up in 1950 with 53 operating mills .