The times. [volume] (Richmond, Va.) 1890-1903, 1892-02-19

Argun ents Made Pro and Con Before the
House Committee.

WASHINGTON. Feb ls.-The hearings given
by the House Committee on Agriculture On
the Hatch Bnti-Option bill closed to-day.
w. c. Brown, . miller OF Fosteria, o., was
the first person who appeared tins morning.
and be rang some changes on the line Of
argument that has been laid before the COM
mittee. Mr.. Brown contended that the mil
lers and farmers were protected through The
system of future delivery. and that the FOR
oIgn buyers were able 30 pay american mlllers
g much better price Tor their hour
Mr. Brown held that in order to
make the bill legal it should not
discriminate; therefore II would be Illegal Tor
the pastor of church to contract to deliver
two sermons Sunday for a specified future
time. none of the sermons being written az
the ;ine tie contract was made. The house
builder. too he said, who contracted TO build
u house at a time when he did not own
stick OF timber. would also come under the
provisions OF the bill.
'Doyou think these preachers set their ser
mons short IN order 10 make q profit asked
Mr. Lewis a member OF the committee.
YES, sir" said Mr. Brown.
Does not the minister" asked Mr.. Hatch,
have stock Of brains on which 10 base bis
sermon :"
Yes answered Mr.. Brown. but doesn't
the miller have a stock of capital with which
% buy the wheat 10 be delivered IN the
future Mr. Brown contended that futures
doubled the prices Of the actual product and
were therefore beneficial to the farmer
Mr.. l.. p. Bacon. president of the Nil
waukee Chamber of Commerce requested that
Congress delay action on the question.
Dennlson Smith. OF the Toledo Board OF
irnde. admitted that IN exchanges there was
some gambling in puts and calls after the
drors were closed. He believed gambling
was clearly against the laws of Illinois and
Ohio. but grand jury could promptly cure
that evil. The suppression of the system OF
future dealings would he said strike a severe
blow TO large business interests lie held
that the system was great benefit TO trade,
and should not be lntertered with.
Mr. Raymond. of Detroit. told the COM
mlttee that II such "a measure as the Hatch
bill were TO pass the farmers OF the country
would curse the men who promoted 1t.
Judge Wilber +. Boyle. lawyer Of ST.
Louis. made legal argument against the
system OF future dealing. cOntendlng that It
was gambling and should DO suppressed.
The Senate Judiciary Committee to-day
continued its hearing on tho Ant-cptlon bill.
Samuel -. Alerton. who described himself
as u farmer of Illinois. spoke against the
passage of the bill. Trading in futures, he
said. was not inaugurated for amblng pur-
poses. but grew ont OF the necessities of the
grain trade.
l. Morton member of the Chicago board OF
trade, opposed the passage OF either the Wash
burn or Hatch bill. lie said that the sO-called
friends OF the farmers may be sincere, and
believe they are right IN advocating these
bills. but he believed that they would make
q very grave and serious mistake # they sue
ceeded IN accomplishing tho passage OF any
measure like the Washburn or Hatch anti
option measure Nh Morton was followed
by Mr.. Bacon. of Milwaukee. and ID. ID.
Smith, OF Toledo IN opposing the bill.