The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1894-06-27
OPTIONS NECESSARY.
Opposition to the Hatch Anti
Option Bill,
Claim That Options Are Neces
sary to Business.
LESS INTERFERENCE.
Welfare of TIE COuntryDemands
Fewer Laws.
LESS INTERFERENCE.


tanduIn harangues had been delivered il
Illuminating the evolution of agriculture
from Cain to Kansas, the most persistent
for delay were ready for compromise, and
1t was unanimously agreed that at the end
of the fifth day the vote should be taken
They might as well have taken it the first
day, for it was evident from the start that
the support to the bill was much weaker
than in the previous congress, and with
possibly two or three exceptions the
speeches were far inferior to those On the
state bank tax There was some fun, but
most of it was at the expense of the speak
err in each case consisting of guying and
mock applause. As to wit, there was less
if possible than in any previous debate,
and the anecdotes told to illustrate alleged
arguments were actually moss grown with
age. In this particular Mr. Talbert of
South Carolina sinned beyond forgiveness.
A Necessity to business.
The argument against the bill was real
" exhausted by Mr. Warner of New York,
who seemed to have steered straight across
an ocean of sophistry and struck the CEN
trail point of the discussion at the start.
He showed that options and futures are
absolute necessity in modern business.
Dealers must know to certainty just
what they will be compelled to pay for ma
terial six months hence. Gambling comes
in as a mere incident. His argument that
producers are benefited by option sales,
whereby money that would otherwise be
idle carries the surplus produce through
dull periods, both novel and ingen-
ious, and several southern men concede
that his figures on cotton fluctuations are
very hard to explain on the Hatch theory
In his opening Mr.. Hatch complained of a
general ignorance about his bill, and the
wits of the capitol say that some of his
supporters have illustrated that ignorance
beautifully. Mr.. Bryan, for instance, said
that a pound of cotton would now buy
more western bacon than ever before,
which caused derisive litter among the
far southern members.
The end of Mr. Warmers speech seemed,
though it might have been a mere coin
cidence, to be the keynote for all the
Democratic speeches against the bill. He
said, LAS Democrats we should remember
the welfare of this country demands less
rather than more of federal interference;
that came here not to extend paternal- |
ism, but to abolish it. and that our office |
is rather to repeal bad laws than to make |
worse ones" Mr.. Coombs astonished the |
house with some "reminiscences, saying that |
"A 40 years of business life, in which he |
lad dealt with nearly every nation on the |
lobe, he had never before known a time |
when some were not prosperous Now
said he, mot one is L shall not at |
tempt TO account for it. The globe seems
TO be swinging in a cloud. We are fully
as prosperous any nation and more |
prosperous than most of them Commerce /
and enterprise are resting a nature rests /
in winter"
After some sarcastic references to Mr.. |
Hatch ana the crudity of the bill he said, |
You can no more subject the rushing !
roaring currents of the business of the !
New York and Chicago exchanges,
amounting to hundreds of millions daily, |
to the petty annoyances of this scheme
than you can dam the floods of Niagara
with one Of his proposed postage stamps"
Congressman SibIey's EIoquence.
Twenty sixth Pennsylvania rose, 1t was
evident that the house was of a mind to
have fun with him, but he took himself |
altogether too seriously, and IL was only
toward the last of his very long speech
that by mock applause and other guying
he was wrought up to the funny point.
His remarks covered pretty nearly the
whole field of legislation and human en-
deavor, and his speech is looked upon as a
sort of bid for the candidacy for vice presi-
dent. The house was in an equal mood
for fun when Mr.. TalberU rose and was
not SO badly disappointed. The horny
handed farmer, the sun Drowned son of
agricultural toll, the man who rises be-
fore the lark and goes to bed when it is
too dark to work, the honest farmer who
never, never sold for sound any animal
that was ringbOned, spawned or hip shot
this gentleman was the object of his
culogy.
Harter on Speculation.
Mr.. Harter, who followed, was listened
to with interest, especially when he ap-
pealed to southern members. His historic
sketch of antioption legislation generally
seemed entirely new to most of the mem
bers- He instanced the act during the war
TO stop speculation in gold, the effect being
that gold went up Is per cent at once, and
congress fastened to repeal the act Pre-
cisely the same results would follow this
law, he thought, and make congress eager
TO repeal it. who, he asked, wants |
prices put up by laws The southern
man wants cotton put up, but not flour or
bacon The Western man wants wheat put
up, and so do if the laws of God and ma
ture put lt up, but am opposed to man
making any laborer pay a cent more per
bushel for his breadstuffs than the laws of
trade demand Abolish futures General !
Hatch, and you producers are at the mercy
Of the local factor. Abolish futures Gen
eral Hooker, and down goes your cotton
ike MI What s-his-naIne to the bottom of |
the sea-
Futile Legislation.
After an able argument TO show that | ,
con gress has no constitutional power to | ,
legislate on syanb bling in the states and that |
such legislation is a failure anyhow he
gave an amusing account of the reign of |
the saints Cromwell, Praise God Bare
bones and all that lot of humbugs, land Of |
the state of Maine, (which has been leg
lslating 40 years to make men temperate
and now even total abstainer, as / am |
en- mot stay in the state day and smell |
The whisky fumes without getting dizzy
His perOratiOn, in which he told how the |
Confecerates had tried secession merely |
because they feared federal interference in |
the states and warned them against pater-
nal federalism now, was one of the finest |