Answer:
Bonanza farms were large-scale, industrialized farming operations that spread across the Midwestern and Plains states during the second half of the 19th century. They were called "bonanza" farms due to their immense size and wealth. Some key facts:
• Bonanza farms ranged from thousands to tens of thousands of acres in size. They used economies of scale, the latest farming machinery and industrial management techniques.
• They specialized primarily in grain production, especially wheat. This was in demand due to rapid population growth and export markets opening up.
• Bonanza farms employed hundreds of seasonal workers, managed by a hierarchy of full-time supervisors. Many immigrants worked on these farms.
• They relied on the mechanical grain harvester and other labor-saving machinery run by steam engines. This allowed a small workforce to farm huge tracts of land.
• Though highly productive, bonanza farms contributed to economic and social problems like corporate monopolies, tenant farming and rural poverty. Critics argued they crowded out traditional family farms.
• By the late 1890s, most bonanza farms had declined due to lower wheat prices, soil depletion and rising costs. But they epitomized industrialized, large-scale agriculture during their heyday.
So in summary, bonanza farms of the late 19th century were massive, mechanized operations that foreshadowed the industrial agriculture of the 20th century. Though hugely productive, they were criticized for their negative social and economic impacts.