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Western Settlement and the Price of Wheat, 1872–1913

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  • Harley, C. Knick

Abstract

The expansion of staple agriculture into the American West after the Civil War was an important event in the economic history of both the United States and the world. This migration of commercial farmers transformed the world's commodity markets. We would expect to find that these farmers were responding to price signals in a commercial fashion. Curiously, the existing literature has failed to detect a price responsiveness in western expansion. This failure appears to stem from a lack of appreciation of the importance of the spatial distribution of prices in the late nineteenth century. This study shows that when this factor is considered, the expansion of western cultivation clearly is connected to the prevailing local price of wheat.

Suggested Citation

  • Harley, C. Knick, 1978. "Western Settlement and the Price of Wheat, 1872–1913," The Journal of Economic History, Cambridge University Press, vol. 38(4), pages 865-878, December.
    • Handle: RePEc:cup:jechis:v:38:y:1978:i:04:p:865-878_08
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    Cited by:

    1. Alexander Klein & Karl Gunnar Persson & Paul Sharp, 2023. "Populism and the first wave of globalization: Evidence from the 1892 US presidential election," Rivista di storia economica, Società editrice il Mulino, issue 2, pages 163-202.
    2. Kevin Hjortshøj O'Rourke, 2015. "Economic Impossibilities For Our Grandchildren?," Oxford Economic and Social History Working Papers _139, University of Oxford, Department of Economics.
    3. John A. James & David F. Weiman, 2010. "From Drafts to Checks: The Evolution of Correspondent Banking Networks and the Formation of the Modern U.S. Payments System, 1850–1914," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(2‐3), pages 237-265, March.
    4. C. Knick Harley, 2000. "A Review of O'Rourke and Williamson's Globalization and History: The Evolution of a Nineteenth Century Atlantic Economy," Journal of Economic Literature, American Economic Association, vol. 38(4), pages 926-935, December.
    5. Edward L. Glaeser, 2013. "A Nation of Gamblers: Real Estate Speculation and American History," American Economic Review, American Economic Association, vol. 103(3), pages 1-42, May.
    6. William Hynes & David S. Jacks & Kevin H. O'rourke, 2012. "Commodity market disintegration in the interwar period," European Review of Economic History, European Historical Economics Society, vol. 16(2), pages 119-143, May.
    7. Jacks, David S., 2005. "Intra- and international commodity market integration in the Atlantic economy, 1800-1913," Explorations in Economic History, Elsevier, vol. 42(3), pages 381-413, July.
    8. Edward L. Glaeser, 2013. "A Nation Of Gamblers: Real Estate Speculation And American History," NBER Working Papers 18825, National Bureau of Economic Research, Inc.

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