In 1922, Congress had passed the Fordney–McCumber Tariff act, which had increased tariffs on foreign imports. The League of Nations' World Economic Conference met at Geneva in 1927, concluding in its final report: "the time has come to put an end to tariffs, and to move in the opposite direction." Vast debts and reparations could only be repaid through gold, services or goods; but the only items available on that scale were goods. However, many of the delegates' governments did the opposite, starting in 1928 when France passed a new tariff law and quota system.[6] As the global economy entered the first stages of the Great Depression in late 1929, the USA's main goal emerged to protect American jobs and farmers from foreign competition. Reed Smoot championed another tariff increase within the USA in 1929, which became the Smoot-Hawley Tariff Bill. In his memoirs, Smoot made it abundantly clear: "The world is paying for its ruthless destruction of life and property in the World War and for its failure to adjust purchasing power to productive capacity during the industrial revolution of the decade following the war."[7] Smoot was a Republican from Utah and chairman of the Senate Finance Committee. Willis C. Hawley, a Republican from Oregon, was chairman of the House Ways and Means Committee. When campaigning for president during 1928, one of Herbert Hoover's promises to help beleaguered farmers had been to increase tariffs of agricultural products. Hoover won, and Republicans maintained comfortable majorities in the House and the Senate during 1928. Hoover then asked Congress for an increase of tariff rates for agricultural goods and a decrease of rates for industrial goods. The House passed a version of the act in May 1929, increasing tariffs on agricultural and industrial goods alike. The House bill passed on a vote of 264 to 147, with 244 Republicans and 20 Democrats voting in favor of the bill.[8] The Senate debated its bill until March 1930, with many Senators trading votes based on their states' industries. The Senate bill passed on a vote of 44 to 42, with 39 Republicans and 5 Democrats voting in favor of the bill.[8] The conference committee then aligned the two versions, largely by moving to the greater House tariffs.[9] The House passed the conference bill on a vote of 222 to 153, with the support of 208 Republicans and 14 Democrats.[8]