, 1877-08-17
APlEA FOR fulFiLlMeRT OF CONTRACTS.

CHICAGO, Aug. 1G.-I nm In fayor OF FREQ
trade to the utmost extent, BOTH rs rcearis
tariffs and legislation, aul be!eyc TINT We will
arrive AZ the most prosperous aud healthy etate
In this country OF uucqualod resources, wheu
trade fs uncmbarrasscd, either by prutcctIyo
tariH or legislation, md when Il is p,1lcrsto,l
that oil contracts must ho fulfilled I'd the letter;
but, so long as the law OF tho lunl prevent,
this, 1t Is an absolute necessity TINT rules and
tradc-rcgnlatious shall 10 nlaie In accor,lance
Will, tho law rs It exists. Wien men r.allzc
tint they must fullll their contracts, they will
~be careful bow they enter into them, an.l reek.
less trailing os all kinds viii be curbcd anl
done away with; but, 30 long as they aro alba
to "lte down." ani plead before our courts tho
"gambllnR Tor baby) act" 1t will b pm absolute
necessity TO plaee restrictions upon thcir opera.
lions. an'i prevent their prccLpitatiug denorall.
zotion ntu run upon the trnle at large.
up To within two years past, tho Board Of
Trade cndcarorcd to- run on that principle u
honor Which u,eana. Ftta4 tour contracts IL IN
ttter; and tho legitimate brlnclles Of the trutls
.iamaEes In full, a,nl suffering to an almost un-
limited cxtenti but, WHEN It woi!d cutl,e t,rir
turn to collect, these sa1no parties who are now
cat,Ur,g & ~ loudly f9r TIC rcpral 81 our "ant!.
down." otlrr from 10 to rs cunts on tho tln!lar
ln payment OF their publications., a,ltl pIcad tto
"baby act" before tilt courts II IN attcn,pt was
,nado to collect n.orc. After tic climax had
corner, tho safety Of tho groat gfsln-traIe ..
Chicago demanded TINT something. Lc uuuc 10
protect Its legitimate Interests agaltlst these fro.
4ient !ncuraions Of disastcr and ruin; md,
tat'on with leading legal minds Of the city, OIL,
preaoilt "aHt!-t0f1tcr ~ rules were a1upteG; aal
the history OF the tralo since has proven them
to bc an emlntttInent of wisdom and tic grcat.
est satcguhl We can have.
. It to pot true that s4cy encourage. short scls
!is anu protect short sellers beyond nlcasnrp;
Tor there lias not been claim male Tor tIlIler.
enees before tue. Committee Vt the Hoard
agalnas sttott sellers WIN have dclaultcl On
thctr contracts, 6Incc the enactment vi thcoe
rules, hut has been allowed III full; aptl In
every instance. they have been ablc to eniorro
tho payment OF these claims, notwithstanding
the laet that u has frequently been held tint
bio members ui ths Hoard ]lavo cnticayorcI to
avail themselves Of these rules, aud uyot. the
payment OF losses On apaate1 sAart confrdt!s.
These WHO interpret thcsc rules as for ths
thctnterest of buyers Of properly, should Ly tAs
ttH,u understand that tIipy were uut fr1,ncd in
tho interest OF either, but sulely fur tho purute
o. haFmontzIns our trade-rpgulat[un4 Will! tho
law OF tho lanu ALLOWING damages to the nt-
most extent that can bo enforced BY law, ulld
thus avoiding IN endless conflict betwcei, uur
association anil the courts.
fs noticeable fact that among tho si2ua.
tures appended TO the proposition for rclxxl 0!
these rules. now pending before thu Hoarl, arc
to be foslnd many who have been engaged 1t
various t'tucs in manipulating and corucrpr
our markets, and also those wl!o have dcfaul'et
IN taeir short cont1acts and facA to got rr.lrts.
under these rules; while tho large minority u
the legitimate dealers Of Tho Exchange, wllssc
Interest ID The interest OF tho trade ut aiga aro
decidedly opposed to any change until radical
Change has Geell made in our lava; aud w.st
this Is DONE IL will not 10 the Legitimate dcalcr.
but the reckless speculator, who will plead 'fef
mercy at thu l,ands of the nlcubers Of the Boart
Of Trade.
Let this proposition, then, be voted doSD.
by all means. CoMMtsslos MERCHANT.