Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-04-09
To Get Rid of Speculation.

CHAIRMAN FUNSEoN of the House Com
mittee on Agriculture, to-day reported to
the House with amendments the bill to define
options and futures and to impose a special
tax upon dealers therein. An elaborate report
was also submitted, In it the committee says
the bill in terms does, and is intended to apply
TO that class of transactions conducted IN the
bucket shops" and grain pits" of the coun-
Try and known as puts" and calls, including
the whole range of mere speculative gambling
IN fictitious food products. 1t does not affect
injurlously any legitimate trader or dealer in
farm staples. 1t seeks to and does close an
internal revenue tax upon those dealers IN
gram, cotton and pork. who as a rule, never
see. own or handle a peck or a pound of the
articles they deal in. 1t applies to dealers
whose transactions have the least possible
reference to the supply and still less reference
to the demand for consumption; who are not
concerned whether harvests blightei or
plentiful. The bill is intended to reach that
class OF speculators only who sell what they do
not own, and sell with no purpose or intent to
deliver what they sell.
1t is urged, says the committee, that the infu-
strict trade, but so far from the proposed meas
ure affecting trade the exact reverse is true
The committee has no doubt of the constitu-
tlonality of the measure. 1t added an amend
ment to section of the original bill providing
that the act shall not apply to any contracts or
agreements for the future delivery of any of
SAID articles made with the United States, or
any state or county, or with the duly author
lied officers or agents thereof, nor to the con-
tracts or agreements made by the farmers for
the sale and delivery of any of the articles
aforesaid which are in actual course of pro-
duetion by such farmers at the time of making
such contract or agreement. These contracts
are obviously not improper, says the committee,
because the exceptions do not open the door to
contracts made by grain pits.
The Vexatious Chinese Problem.
I N response to a Senate resolution calling
upon Secretary Window to transmit to the
Senate statement of the number of arrivals
and departures of Chinese persons at San
Francisco annually since August 2. 1882, and to
further send any information respecting the
evasions of the law for the exclusion of
Chinese laborers, the Secretary to-day trans
mitted tabulated statement giving the de-
sired information. From September 1882, to
July !, 1883, the arrivals numbered 9,269 and de-
partures 1894 In 1888 1885 arrived and Il, ,273
departed; in 1884 J., $50 arrived and l5 1S5 de-
parted; in 1885 IL, ITO arrived and 1876 de-
parted: in 1886 1918 arrived and 1879 de-
parted; in 1887 a. 173 arrived and l7,Sl6
departed; in 1883 1885 arrived and 10 l69 de-
parted; in 1889 S36 arrived and 1872 departed.
OF the Gil persons who arrived during the six
months ended December 81. 1889 II were actors
clerks, l cook, 10 druggists, 2 goldsmIths, 494
physicians, 10 shoemakers AZ students and 24l
with no occupation. OF these 22I were females.
Secetary Window says in respect to evasions Of
the law tor the exclusion of Chinese laborers
that the violations appear to consist mainly in
the use of fraudulent certificates and in
smuggling across the northern frontier of
laborers.