Little Falls transcript. [volume] (Little Falls, Morrison County, Minn.) 1876-1894, 1892-01-08
rdsJ1fREss spEcuLxrIos.

ofIense to the farmers
BY voting, against il; suppression.
The bill of Mr. Washkarp Is. plicti-
cally prohibitory though ii psfporti
only 6puf into effect u systssI II
taxation. It defines an option Is an
lssps &c buy d sell comnoditis,
81 fhtdss THE; and fatulss q b ! aafss
leepte to buy Or sell, when thu marty
Id 3 i xSfa pent is not AsdSl
timg owner Of commodi to
b ds bred. Conf hcts with 1.-THE
United States, or Hah any te,
county puuicins tyand cont Acts
10 farmers Ssald snklell sia
actual course of production. are ex-
eepted. tn articles covered by the
b4ll are West, corr oa,.,rys. barley;
cotton and other farm products. All
dealers in options and futures as de.
re tspsysn actual zta.s II
sl.ooo I'D h.dd;sbn to that aztax
Of five elnts a:pound for cotton md
n eaucs and twenty cents a
bushel on all other articles mentioned.
These taxes are to bbe paid Is 81 tie
collectors Of internal revenue. under
rdsshtions similar to tbose vernMg
the taxes on tobacco and spirits.
I'VE seeao reason Why this should
not be made law: The question
whether dealing in options ;;sand
futures is or is not legitimate business
has been debated fruitlessIy. Those
;dtelssted;in. IT ON on as51arss scale q
sdAbpt Is show dat il is...:5and i: iitd'k;
nant1y resents the comparison be-
tween the produce broker and the
operator Of the "bucket shop" But
the difference 10 only Disagreement of
kind. That the immense transactions
annually in futures on food products
are 4 part Of productive industry can
not be shown. The only agreemsnt
ever aayancen or their Legitimacy that
is worth: considering supports them
because it is alleged that they give
strength and stability to"the market
1f,it' ii asserted, the products ~ stas
farm were dumped upon the 5:,narks,
all at once, il would send ::prieeesddwn
with q whirl, to the >greatsat detriment
of the farmer. The work Of the
dealers in fntbfss Is, from this point
st view, : tort Of compromising 7 PEI.
'dulum, which keeps. the market more
evenly balanced all the year round
by ooattaot fot future Idshvssries,
and. thus ! spreading the disposition o.
. crop over the entire year.
,s,nrss ~ a,s,sa 1 oner. .t for . w. r.,
:lllaISvIl,aNKlI be co6mnsIled|t I'D 4 nil ~
q IIsllan1a,iaa of|tSa II,,s,srlr sj j6n:
ne, ~. ~ l,sa;.rda a,i1 s MI
.,ter the t;me of b,rveat;no s;h;nman.
o.~.,s If a 's;nola .hn,hal Of vhs.t.
Tla-:...,,.t ,,s.l,t. ~ .,,, :, ,E -
11esrs3or ofshum.us sindustry. am
VssbsHsye their CLAIM, to be s,qus,,z.
ifsslIrd r 81 1pficss Il dfe fiction: OF BE
otIer: Hard. there Is no doubt Il th 3
rave ! y e j .;s done or NJ may IL
iaussto.ssae 1ptodac q, by, purchaser;
iA4aHsd1es on paper. TL6esvsluesofsa
crop III nap be lowered love 10 IN. extsny
that may cost tie farmers millions sof
dollar by. transactions which are me. mere
6anbliag ppesstiens;e having nothing
tsxtsvsr'to do &ishsany 'zactsat .p.b.
dd iii IF ,thsf6stds:" sIhissp esis e
6f gamblfhjsl 4 Ii Ti u particularly exciting
Rame,.by.reason of tho maanituda 81
The staie.. zButwhy; should tie far
m.,ssbssada6eed in to furnish the
chips and to nav, aszl,s.toe>oaeasaoss,
The heavy percentarreio :; " gains and
Ilii,li FIN ll6es required TO a@nasiabtIhns9a
Layout ofsther~ps,,,a.;;ss.
igfxblithments?: I'm cert INV