St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-05-14
BODYBUILDING.

The riding of hobbies in congress is
largely responsible for the delay in the
enactment of necessary legislation. A
few men have strayed into that body
who are no more fitted for the duties
the people expect them to perform than
a cat for the eXpounding of theology,
and yet they force themselves to the
front in season and out of season, and
by their persistency in advocating alb
surd and impracticable schemes make
general nuisance OF themselves, be.
sides being stumbling block in the
way of those who desire to accomplish
what they were sent to Washington to
do.
Mr.. Hatch. of Missouri, is ona of the
most incorrigible of hobby-riders. For
years his hobby has been an anti-opton
bill, and he has been zealously assisted
in grooming and mounting it by our
own Senator Washburn. Perhaps Mr..
Hatch has no personal interests to serve
by securing the passage of his bill, but
Mr.. Washburn has. The measure oe-
cupied considerable portion of the SEES.
sion of congress, and has been bobbing
up periodically during the whole of the
present session. Mr.. Hatch has claimed
dates for lts consideration frequently,
but more frequently has asked that the
dates already fixed be changed and a
new one agreed upon. He is always
ready with speech on the bill, but is
never ready for vote, as some of it's
friends are sure to be absent on every
occasion, and courtesy permits him to
delay vote until such time as he shall
be the most strongly armed for the fray.
MIR. Hatch has finally reported bis pet
measure favorably from the committee
on commerce. 1t does not differ IN ate
rally in its new form from the original
bill as presented in the last congress.
Its chief aim is to prevent speculative
trading in the products of the soil and
in provisions, and it processes to be de-
signed to prevent interference with the
law of supply and demand. That law
must be very shaky and uncertain one
if it can be sustained by any such meas
ure as the one proposed. Its right to
designation as law at all may we'll he
questioned, if the necessity of such an
artificial prop as this act affords is &C
knowledged.
Option trading is necessary part of
our commercial system. 1t is not true,
as claimed by Hatch aud his associates.
that it injuriously affects the producer.
There are as many bulls as bears upon
our boards of trade, and the bulls are
as often In the ascendant as the bears,
But whatever faction may be on top. a
general average is maintained that is
fair to the producer and the consumer
alike. The present season is an excep-
ton to the rule. Prices of wheat are
lower than they have ever been in our
history. but this is not due to specula-
tive or option trading, but to overp1o.
ductiOn. We have more wheat than is
| needed-mOre than can be consumed bv
our own people or exported to foreign
countrleS-and as consequence we
cannot sell 1t at the cost Of production.
The same results would follow the over
production OF beef or pork, of cloths or
carpets, OF town lots or of country acres.
A glut of the markets will inevitably
cause fall in prices, and no human
laws. however restrictive. can alter this
immovable law of nature.
The riders of the silver hobby are
again manifesting activity. One would
think that they had had enough of
drubbing already, but they are return
ing to the fray with hope renewed and
armor bright. Though much disfigure d,
they are still in the ring. and apparently
have come to stay until their supply OF
oratory is exhausted. And this, If We