Hoover’s jawboning had persuaded Henry Ford to raise salaries at his car plants, utilities to invest, and companies not to cut jobs. To boost wages, Hoover curtailed immigration. To protect businesses he signed the Smoot-Hawley Act, increasing duties on thousands of imports from beverages and wool to tungsten and clocks. — Economist
Hmmm… Wash, Rinse, Repeat? Say it ain’t so, Joe, say it ain’t so!
(QOTD = Quote of the Day)