Peek said: The real trouble with the American farmer is that the price he receives for the great products of which we export a surplus. such as wheat. cotton. livestock. etc.. is determined in the markets of the world where the American farmer must meet the competition of the cheap laborer in foreign countries. where the standards of living are far below ours. It is the price of the surplus that determines the price of the whole crop. Everything the farmer buys. he must buy in America. where industry and labor are protected by the tariff and the restriction of Immigration. No amount of diversification will cure this basic fault. Here we have a very clear and comprehensive statement of the universal rule which determines the price our farmers reveive for their surplus products.
Identified stereotypes
Foreign laborers are cheap and lower the standard of living.