Just a guess... Could be a vignette from the (AFA = Association des fédéralistes anarchistes).French political organization which existed from around 1928-1939.
The rays of a sun and the horizontal lines behind AFA make me think of Argentina or Uruguay. It appears like a windmill that stands in front of the sun: something agricultural?
The Agricultores Federados Argentinos date from the early 1930s.
Hello. The radiated sun also appears on the flag of Argentina. I think it is about Argentine Federados Farmers. "Agricultores Federados Argentinos". In 1939 the construction of a large mill in Buenos Aires was completed, which even had rail access. Regards.
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