Written by the Fiveable Content Team • Last updated August 2025
Verified for the 2027 exam
Verified for the 2027 exam•Written by the Fiveable Content Team • Last updated August 2025
Definition
A credit system in which farmers with little or no cash received food and supplies on credit by borrowing against their future harvest, often resulting in debt accumulation when harvested crops did not generate enough money to repay the debt.