One of the important sectors of the American economy globalized, putting American businesses and farmers in competition with other places in the world. One result was a steady downward pressure on prices. The Republican policy of maintaining tariff protection for American industry mitigated deflation on the domestic market, but the return to the gold standard with the Resumption Act of 1875, which later became a major political issue, created compensatory deflationary pressure that contributed to the general decline in prices. This benefitted workers only as long as they were able to maintain their wages. Second, social changes Settlement from the East transformed the Great Plains. The huge herds of American bison that roamed the plains were virtually wiped out, and farmers plowed the natural grasses to plant wheat and other crops. The cattle industry rose in importance as the railroad provided a practical means for getting the cattle to market. Third political
One of the important sectors of the American economy globalized, putting American businesses and farmers in competition with other places in the world. One result was a steady downward pressure on prices. The Republican policy of maintaining tariff protection for American industry mitigated deflation on the domestic market, but the return to the gold standard with the Resumption Act of 1875, which later became a major political issue, created compensatory deflationary pressure that contributed to the general decline in prices. This benefitted workers only as long as they were able to maintain their wages. Second, social changes Settlement from the East transformed the Great Plains. The huge herds of American bison that roamed the plains were virtually wiped out, and farmers plowed the natural grasses to plant wheat and other crops. The cattle industry rose in importance as the railroad provided a practical means for getting the cattle to market. Third political