Casting Bread Upon the Waters

In the late 19th and early 20th century, as wheat production and marketing were transformed in scale and in practice, American farmers tried to make sense of how they were positioned within a rapidly growing and changing international market. They tried to formulate a response that would gain them some sense of control over a market that was described by some as vast and powerful as nature itself, and by others as a playground for the wealthy speculators who supposedly controlled it. By situating the farmers within the changing international grain market this thesis explains the challenges that they were up against. American farmers understood their plight through narratives of market failure, common enough during the agricultural depression of the 1890s, as well as in the first decade of the twentieth century: declining prices, distant famines, and attempts to corner the wheat market reinforced the notion that supply and demand were not working "properly" to produce prosperity for all. During the Populist period, farmers organized to demand relief, in the form of government intervention, from what they perceived as a predatory market system that guaranteed profits to speculators b