The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1890-03-27
OPTIONS AND FUTURES.
Amendments Which Tax Deal
ing in Them Adopted
IN THE SENATE YESTERDAY,
Pending tho Consideration OF the
sherman Antitrust Blll-GnM.
bling TT Stocks and bonds
included In tho Niii.


Included In tho Niii.
WAsniyGros, D. G., March o6.-Dur.
ing the debate In ,heSenate on the anti.
trust bill the legle bearing and effect OF
Mr. Ingalls, amendment, us well ns the
bill generally, were discussed by Mcssrs.
Spooncr, Gray, Iloar, Stewart, Vest,
Reagan and Eustis. After some remarks
in reply to something said by Mr.. Rea.
ran yesterday, Mr.. Vest said that lie
would not say another word about tho
constitution. lio WIS prepared to "join
the procession" 1t reminded him Of
the hunting party that made an agree.
men, that the first man who complained
ola dish set before him in camp should
cook for week. 0nc Of them happened
to kill m old crow and cooked 1t
for the Mcss, and everyone praised it
AS Il most delicious morsel. The Farm.
crs' Alliance was cooling now and no
dish could be placed on the Senatorial
table that wouid not be taken with
plsto that would delight a parisian
gourmant. lie would like the Senator
IRON Ohio (Ar. Sherman) to say whether
be considered the clause incorporated i'll
the bill by Mr.. ingalls,, imposing a tax
on dealings IN opti0ne, constitutional or
not He characterized the bill as u ire
markable re, OF Legislative legerlemain."
1t said to the persons engaged in dealing
in iu:ares aHn options that they were q
lot Of criminal thieves and robbers; but
tia. il they would pay 900 into the
Treasury they might 20 on robbing.
Mr.. Eustis said that he asked himself,
in looking over the bill, whether the
Senate was seriously engaged in the ut
tempt to impair and destroy trusts" or
whether it was engaged in sham battle
playing the role Of Don Qaixole. What,
he asked had the Congress OF the United
States to DO with the cotton exchange OF
louisiana, or with the dealings in fu.
,urcs Of manufactured cotton and wool.
en- goods in Boston or New York ? II the
States, hc said, had become so debilita.
ted rs to surrender the whole question
Of policy, Of public morality to Con-
gress, it would hot be done by his vote.
He regarded that part of the bill as the
greatest usarpation ever attempted in
the history OF the government. -,
INGALLS, CHARACTERISTIC HEMArKs.
Mr.. Iugalls said that his amendment
was not intended in any manner to in
tesiere with the bargains, purchases,
sales or exchange OF any products OF
which the parties might be possessed,
orof which they might be the producers,
or which they intended actually to de-
liver. It wes directed against that gigan-
tic modern invention known as dealing
in futures" which was just as neiarious
and Just as dispicable as the poker table
or the faro bank.
lie could not conceive OF anything
more humorous more grotesQuc, more
qualified TO make the sides OF the nation
shake with laughter than to have the
Senator from Louisiana (Mr. Euslis) and
the Senator from Missouri (Alr. Vest)
and their associates rise with terror on
every occasion, and plead the constitu-
ton with stimulation that the minutest
alteration would (like the death OF
kosciusko) make "ireedom ahriek."
These gentlemen had spent consider
able portion OF time IN endeavoring to
destroy that constitution. What, he
asked, was the secret OF their newly
found reverence for sthc constitution? ?
iiad they borne it away in the ark Of the
convenant for four years and then
brought it back rs its chosen guardians?
MIR. Vest replied to Mr.. ingalls,. Ii
The results OF the war, he said, were to
put the entire Southern people under
ban and outside the pale OF constitutional
obligation, then that Senator's conclu-
sions We're correct and Southern Sena.
tors were amcnable to his crlticism.
Since the arbitrament Of battle had been
against the Southern people there had
been but one question among honorable
men, and that was whether the South
had accepted the result honestly and in.
tended to abide by it.
Mr.. Ingalls, asked Mr.. Vest whether
he believed that the constitutional posi-
,lon taken by the South during the war
was night or wrong. ,,,|s -5.l-
vEsr's REPLY.
Mr.. Vest replied that he believed then
that it was right, and that he accepted
the result and meant honestly to abide
by the construction put upon it by the
Constitution. But he did not accept, in
the result Of That struggle, all the con-
struetions put upon the Constitution by
the Republican party, or by the Senator
from Kansas. II Senators representing
Southern States were to DO under the
prescription announced by .that Senator,
they might as well be out Of the Union.
lie was under an obligation to obey the
Constitution, but not to take the con-
structions put upon it by tho Senator
from Kansas. Coming down to details,
he said that he would have to amend
the amendment OF tho Senator from
Kansas, by making the license to deal in
futures $4,000 instead Of 81 900.
Mr.. Euslis also replied to the remarks
Of Mr.. Ingalls,. That Senator had inti-
mated that Southern Senators knew
nothing about the Constitution.
"Oh, no." said Mr.. Ingalls,. "Iou
have been on both sides md you ought
to understand it." Laughter.
Mr.. Eustis-Supposing to-day that !
contract to sell \ thousand bales Of cot
ton OF the first OF May, and that ! dc
deliver them then, although l have not
them when make the, contract, wonld
] be amenable TO provisions Of this bill
Mr.. Ingalls-You ought not to be.
WHAT IT MEANS. r..
Mr.. Eustis-I assume that the Senator
knows what amendment he has offered
and l say that it does apply to Just tha
case. This amendment docs prohiol
and suppress the making of centrae
for future delivery, unless the part!
making the contract is the actual owne
Of the thing to DO delivered. II tn
Senator sought to correct tho morals o
the npoule Of Illinois. IL le was t