On the record
When deflation came it found a restricted market, increased costs of production, and farmers burdened with mortgages lightly assumed during the period of frenzied expansion.
Said by
John Dewey
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gutenberg.orgJohn Dewey: “When deflation came it found a restricted market, increased costs of production, and farmers burdened with mortgages…”
Editor's note · Context
Dewey analyzes the consequences of deflation on farmers, highlighting the challenges they faced after a period of economic expansion.
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