Parity Is a yardstick of economic health which has become outmoded as an indicator of progress or as a yardstick to measure net income. In the 1920s. equality for farmers became a much sought after goal by farmers who properly felt that they should receive a fair share of the national income. High tariffs protected industry and the immigration laws protected labor. but farmers bought in a protected market and sold in the world market. The fairexclange value was devised in 1924 to give farmers the same purchasing power for their products which the products had brought in the years 1910 to 1914. Thus was born the parity concept which soon became national policy.
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