Well, no it didn't. Or, if they did, it wasn't very effective.
One of the groups affected by these policies was Jewish applicants, whose admission to some New England and New York City-area liberal arts universities fell significantly between the late 1910s and the mid-1930s.[5] For instance, the admission ... during that period fell ...in Columbia University from 32.7% to 14.6%. 15% was still 7x or 10x their percentage of the population.
Sounds more like they had a 15% quota, not 1.5% (or 1%). 15% was still 7x or 10x their percentage of the population.
Shouldn't have had any quota at all, of course.
http://en.wikipedia.org/wiki/Numerus_clausus#Numerus_clausus_in_the_United_States
Sorry, the last sentence is the second italics section got misplaced. It isn’t part of the quote.
Perhaps I was thinking of the medical/law schools.