In what way was "King Cotton" still the king after the war? How was "King Cotton" detrimental to the South?
What will be an ideal response?
The ideal answer should include:
- Cotton acreage expanded as greater numbers of small white farmers switched from subsistence crops to growing cotton for the market
- Local merchants and planters were the sole source of credit, advancing loans and supplies to small farmers and sharecroppers in exchange for a lien on a year's cotton crop; charged high interest rates in advance and marked up the price of goods sold in their stores; sharecroppers and tenant famers deep in debt for supplies; spread of "crop lien" system forced more farmers into cotton growing
- Depressed cotton prices: spread of "crop lien" system expanded cotton growing as farmers tried to obtain credit; competition from new cotton centers in India and Egypt; per capita wealth in the South declined steadily; farmers had to sacrifice their ideal of independence to the cotton market; nearly half of the South's farms were operated by tenants or sharecroppers by 1900
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