March 21. 1961. stated. the textile employment picture is the blackest of all. and the continuing contraction of the domestic textile industry is apparent by whatever yardstick may be used. whether it be equipment in plants. employment. mill liquidation or profit. How much worse off is it going to be when all the new mills are completed in Japan. Hong Kong. Taiwan and on and on? I disagree with my* textile area colleagues who believe the quota system can be their salvation. If it is wrong to allow 35 percent of our market for foreign imports. it is just as wrong to allow 5 percent or 1 percent if the sales in our market are based on unfair and unrealistic competitive conditions. Quotas are not the answer.
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quota system