The throwing out of work of these men has reduced the buying power of labor at home and started us on the down grade. But this was not the most vital factor. Retaliatory tariffs. the quota system. the licensing of processors of agricultural products in Europe so as to control the amount of foreign agricultural products practically barred our agricultural shipments to European nations. The world took the position that if we desired an isolation policy they would help us carry it out and they raised higher tariff walls. These higher tariffs have not only barred the sale of his surplus crops to Europe but have increased the proportionate cost between what the farmer has to sell and what he must buy.
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quota system