The North Dakota economy faced serious challenges during the 1920s. The state relied heavily on agriculture, which had boomed during World War I. But when the war ended, demand dropped suddenly and dramatically. Many farmers had invested in new equipment during the boom years, only to see their income fall as European agriculture recovered. As markets for North Dakota’s crops shrank, farm foreclosures increased. Farmers who had borrowed against their land to expand now found those debts coming due.