1) How did the Homestead Act, along with increased technological advancements, lead to increased debt for farmers?
A)
Advancements in transaction methods caused farmer distrust in banking,
which led to increases in defaults on loans.
B)
The Homestead Act disallowed monopolies, so many farmers, who had
geographic markets cornered, borrowed from banks to maintain
profitability.
09
The Homestead Act provided subsidies to Native Americans relocated onto
farmers' land, leading to massive scarcity in arable land for crop
production.
D)
The greater availability of farming land, as well as better tools and
methods, created overproduction of crops and a severe drop in the prices of
farm products and profits for farmers.
.
2)
Began July 21, 1861