Final answer:
Late 1800s American farming changed with increased reliance on railroads and banks, competition with foreign markets, specialization in single crops for profit maximization on large farms, and the adoption of new farming equipment like tractors and combine harvesters.
Step-by-step explanation:
In the late 1800s, American farming underwent significant changes due to the impacts of the Industrial Revolution. Among the notable shifts, we observe the following:
- (a) Dependence on railroads and banks - Expanded rail networks facilitated the transport of crops and supplies, while reliance on banking grew for loans to cover operational costs.
- (b) More competition from foreign countries - American farmers struggled with overproduction and lower prices due to foreign competition and domestic surplus.
- (c) More varieties of crops grown on each farm - While specialization in single crops for large-scale farms was encouraged for profit maximization, smaller farms often cultivated diverse crops to sustain themselves.
- (d) New equipment for farming larger farms - Innovations like gasoline-powered tractors, seed drills, and combine harvesters enabled the farming of larger acreages more efficiently.
Larger bonanza farms began to prosper through economies of scale, whereas small family farms faced numerous challenges such as economic hardship due to declining farm prices and the inability to afford new technology or invest in their operations.