ABSTRACT
“The crisis is universal; it does not merely affect the European market. It affects overseas states as well as the states of Europe. It operates with unequal intensity according to the economic development of the countries, their capacity for resistance, and the relative advantages which they enjoy as agricultural producers… The reason for the agricultural crisis and for its continuance is to be found in the fact that agricultural prices are low in comparison with the expenditure which the farmer must meet. The profit-earning potentialities of agriculture are weakened. Agricultural products cost a lot to produce and then fetch very little in the market.”
