The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1892-02-21
THE ANTl-opTloNS BILL.

WASHINGTON, Feb 20-The options IN
quiry OF the house committee Oh agricul-
ture closed yesterday. An antf-optlon bill
VIII, Without questions, be reported TO the
house by the committee, despite all that
has been said against such measure dur
ing the hearings that have been In progress
Tor two weeks Nothing has occurred. 2
said Chairman Hatch, ito induce me TO
change my prediction that the bill which
VIII be reported from the committee on
agriculture 70 the house will pass by at
least two-thIrds vote The general lines
of the bill introduced will be the basis of
the bill reported. 1t is too early to say
what changes or notifications will be
finally agreed upon.
1.-The committee has listened patiently
and courteously for two weeks to repre-
sentatiyes of all com mmercial bodies and
interests 20 be affected by this proposed
legislation, and have accumulated much
valuable information that | think will
enable 1t TO perfect bill effective in its
provisions so far as to control, if not pro-
hiDlt, the class OF trading now denounced
oy the rules OF every reputable board or
trade in the United States as iilegitimate.
and also rests under the ban of the laws of
nearly every state in the Union, and at
the same time will neither interfere with,
hinder, nor obstruct legitimate trading or
honorable commercial transactions.
Other members OF the committee are
equally positive in their assertions that a
bill Will be reported. Mr.. Alexander, or
North Carolina says that it will be a
measure that will suppress fictitious buy
ing and selling, and yet win not interfere
with what the commercial world calls
legitimate trading. "All the witnesses
we have heard. ~ he says. ''say that they
are willing that the selling of options
should be suppressed, but they do not
make clear definition between the selling
of options and of futures. My opinion is
tnat if the board of trade of Chicago. or
any other place, offered a bill that would
certainly prevent fictitious buying aud
selling, while at the same time it did not
interfere with legitimate trade, the com
mittee would adopt it unanimously. 1t
will take some time to frame the bill, but
when it is framed it will pass the house
perhabs not by two thirds vote, but GER
tainly by an ample maJotity."
1t is the opinion of Representative YOU
mans that the sentiment in favor of the
bill is growing instead of decreasing, aud
he thinks that the hearings have rather
intensified the favorable feeling.
Mr.. Lewis of Mississippi thinks that
there is more of demand now than pre-
viously, and predicts the passage of the
bill after it has been reported.
Mr.. White OF Iowa said that he had
against the bill, but his opinion about the
necessity of some legislation that would
curb gambling in staple products had not
been changed. He acknowledged, how
ever, that the line between legitimate and
trading was very obscure.
Mr.. Caminetti of California said that
question of doubt seemed to have been
forced into the case, but he for one was
willing to give the benefit of the doubt to
the farmer, and was therefore earnestly
for the bill.
OF the Republican minority Mr. Fun
ston of Kansas predicted that the bill
when reported would be the Butterworth
anti option bill with its rough edges
I'VE don't want to restrict legitimate trad
ing, but we want to prevent tampering
with the market by persons who sell and
buy what neither they nor any one else
has got."