New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-02-10
ITWOULD HURT THE FARMER
DANGERS OF ,ANrIopTroN LEGISLATION.
BUSINESS MEN GIVE STRONG REASONS WHY
TUE p11I SHOULD BE DEFEATED.

Supporters of the Anti Option bill are not numerous
am,np the residents OF NewYo-k. and business men
and farmers who visit the city cannot De iouno WIZ
will say anything In favor OF the measure WIN 'ir
exception OF Senator Washburn. the business anu pun
lie men OF the Nation and many who are engaged III
agricultural pursuits who have been found at hoeis
and elsewhere. when asked TO express an opini'"
about the bill have all declared that the lee1sa"on d
proposed In the measure was unwise.
George r. Swift, OF Chicago, who will probably De
the Republican nominee for mayor OF the "o'ias far
civ and will probably DC elected as from the pres
ont pocal situation there it locks as II there were
to be three Democratic candidates In the heio' says
that Chicago is strenuously opposed to the Anu
On;Ion bill. When he and F. W. Peck were ais
cssing the measure the other day at the Fifth Avenue
Hotel he said
al the AntiOption bill becomes law and the law
Is enforced the damage that will result to the business
interests OF Chicago alone to say nothing OF the oao
effect elsewhere is at this time difficult to esuma'e
Tho Chicago Board Of Trade Is one OF the largest
busincss institutions OF Its kind IN the world ana inc
evil effect upon the commission business anu upon
trading generally would be so great that failures
would no doubt result and hard times wouio DC
general throughout the Northwest, and everywhere
else. for that matter.
eThe Anti.Option measure. its champions claim
os introduced with the intention OF benefting the
,,rmar Every man wli5 has looked into the hat.e
carefully and dispassionately knows that tue result
would be Just the reverse The farmer cah"o' NC
fooled either lie Is perfectly aware tnat ac'tui ."
dions control the price OF wheat corn oats, my
potatoes, pork and everything else. Inc iar'hei
knows that II there Is good crop ana the ra"sp''
tation facilities are good. the price OF wheat OF any
NJ tc ether cereals Is MT going to be especially hg.
But II the crop IS good In part OF the country anu
inst the reverse in another part he knows mat ne 1,
going to get good prices. AND ne Is going " %
good prices II the wheat bought and sold on 'he
boards OF trade in the country amounts I" .'"'
than has been produced In hundred years ~ We
had a short rrop OF wheat and 1t was selling at %
bshel and Partridge or old Hutch or some one else
were TO nut on the market JO,OOO,OOO busheis vi
wheat which does not exist and which the farmer
knows does not exist 1t would not eec the price vi
actual sales 1t is all nonsense ID say that ueah"s
in futures controls the price OF wheat or porh'
"The law of supply and demand controls prices an"
to try to enforce such a law as Is proposed IN the
Anti option bill would put stop to much legitimate
trading sold Nathaniel Page, when seen at the 1l'h
Avenue Hotel Yesterday. ~ Such measure Is the
wrong kind OF legislation, and believe such IL"
would be found to be unconstitutional III deahne III
futures were stopped. the result on the ous'"e'.
interests OF the country would be Serious anu
when the business interests Of the country are
,nterfered with the farmer also suffers. instead OF
such law rs is proposed by the AnHOpton bill
doing any good It would result In great injury, ana
the farmer would be the greatest sufferer 10 STOP
dealing In futures would put an end to much e1umac
trading and such condition OF things would orihs
about q bad result. Everybody knows that increased
speculation Is the best thing to advance the interest OF
all kinds OF products. The Anti-Optlon DILL HOW
ever. does not aim to increase speculation On inc
contrary It would strange speculation and tho farmer
and cotton planter would suher'
Ex-senator Arkell, OF Canajoharie Is also o inc
opinion that the Anti option bill is not the right Rino
OF legislation "Dealng in options said he, at tne
Gsey House Yesterday, cannot be regulated by ieels
lation II will properly regulate Itself In time ihe
assertion cannot be made truhuy that speculation In
grain on the boards OF trade docs not oehent '"e
| farmer When prices are high there are objections
from some quarters and when prios nre low thero are
complaints from other sources. The speculative Pr'ce
OF wheat. when 1t was forced up many points some
time ago. was taken advantage Of by Russia ana Ehs'
land paid good price, II Is said, Tor Ruan wheat
There were complaints then from the farmer here De-
cause we did not send the same quantity OF wheot ~
| England and now rs understand II. Mr.. Washour1i
avs that the injury done because the price is orceo
| down by too much speculation. The law OF supply
| and demand will always regulate the price VI
cereals and II dealings in options are let alone 'ney
will also regulate themselves Antloptfon leg'siauoh
will never do any go0d'
| President Evan Thomas OF the Produce Exchange
sneakinr OF the prospects Of defeating the Anti
ontion bill said al think there Is too much good
sopse among the members Of the House OF KEEP
resentatives to permit rs passage 'hro"si.
that body 1 am satisfied that IL
would never have passed the Senate IL severn,
Senators had not early In the session pieueu
| themselves to Senator Washlmrn t" vote lor ]" WIN
ont exactly understanding the scope ana intent Oh
tho measure The opposition to the bill at WASH
In gton is wide awake and believe IL Will Keep 'ne
measure from being brought up
r. H. Laimbeer, r.. said al thought there WAS
little danger Of the bill passing, for beiieVed IL 700
absurd to have the attention 1t has received nu'
q scems to have raised something OF commoton'
Instead OF helping the farmer II VIII hurt NM ne
cmou warehouse keeper also will suffer. Up In the
country I'm former times the men who had ware
houses had to send on wheat to an unknown market.
Now he can be selling at n price. To people
who bring grain here and don't want to store II The
onton market Is n great benefit. Otherwise they
cannot sell TIL they get the grain here anu men
must sell at once, at any price Inc Jp, a oions
no one wants to buy grain, and I'LL stores ana tahe
the risk OF carrying It, The passage OF tne pn Wciu
he most detrimental to the interests OF ibis port.
congress can leglslate out OF existence =
general business like that Of grain trading, sara
Ern Gaa make Sn nnpxnnse ' for seme Of dis
arrange the business but that Is all. , MGuaa
better devote itself TO the silver b ana o'her 'hinss
that are much more In need OF attention. ma.
at Is remarkable said j. Edward slmmohs' 'n' W..
such foolish piece Of legislation should be Az, AZ,
tempted. 1t shows that the fools are not all deao
yeti ,. ,,, or corrot COO WHY II
Is any more flcgmatc to sell commodity for ~,
tire delivery expecting before that time to buy II
Tor less the selling price, than to reverse aae
vance. / think 1t is the duty Of every member OF
congress who is opposed to the bill to use every
effort to delay It's consideration LINK nionsserl d
g. entirely proper in such Cnse The business de-
pendent on the Newiork exchanges Is great ana tas
Is aimed at the exchanges OF Newborn ana Cnicag"
| by the confession Of those who are managing H.