Evening star., 1909-04-15
Bill to Prohibit Dealing in
Futures of Farm Products.
SCOTT SAYS 1T WILL PASS
Expects support Of Republicans and
Southern Democrats.
AIMS B1ow AT WHEAT CORNER
Plan Of Author of Measure Is to Pro-
cure Passage at Regular ess-
: sion OF Congress.

AS q result of the. bull wheat. market.
the corner in the grain. the rise in the
price Of flour and the threatened increase
per loaf in the price Of bread, Represen-
tative Scott OF Kansas. chairman of the
House agricultural committee. today in
troduced a bill prohibitinx. through the
invocation of the interstate commerce Sec
ton of the Constitution, the dealing in
futures Of grain. cotton and other farm
crops.
The introduction Of this bill was no
purely pro-formal proposition. Mr.. Scott
realizes he will be unable to do anything
in the matter until the regular session Of
Congress, which begins next December.
He thought 1t wise. however. to get the
bill in now, in order that, as chairman of
tine agricultural committee, he may refer
1t at once to the Attorney General for
advice and opinion.
Many Friends Of Proposition.
Mr. Sc6tt is confident the bill will pass
1t is not thought there will be any party
question involved.
Many southern representatives have
been nghting for years In an effort to put
the cotton exchanges out Of business and
to bring about. through legislation, the
prohibition Of dealings In cotton futures.
They will all, every one OF them, support
the Scott bill.
In addition, it Is understood that many
republicans will fall In line under the
banner Of the anti-futureites, led by Mr..
Scott. and that there will be no trouble
at all about the passage of a measure
OF this sort, now that II is fathered. not
by democrat. but by an organization
republican. the chairman o. the great
oO conraiffAo af that
Mr.. Scott introduced similar bill two
years ago. which, however, prohibited
dealings In cotton futures only. He In
tends to push this measure.
weeks" said Mr.. Scott to q Star reporter
today. "have brought this proposition of
dealings In futures Of farm products very
sharply before the people. We know that
q practical wheat corner exists. that the
price Of -four has gone up and that an in
crease in the selling price OF bread Is
threatened.
Now, II that increase bs only q cent
. loaf. the total for Q day. . week or q
month will be something enormous. the
poor.
Expects Bill to Become Law.
''I think measure to prohibit the deal
ing In futures Of farm products will have
more backing than ever before. This
business OF boosting UP the price Of wheat
after the producer has sold It is bad busi-
ness, and the results Of this proposition In
increasing the cost of hour and OF bread
constitute an outrageous tax upon the
people.
There is no good economic reason that
may be advanced AGAINST the enactment
Of the legislation propose. On the con-
traFy. dealings in futures constitute q
constant menace to the financial stability
OF. the country.
Il am convinced that the inception Of
the panic OF 1907 was due to dealings In
futures. thus tying UP an enormous
amount OF money that otherwise probably
would have Steamed the tide of hard
times.
''You may depend on it that will push
this bill to q conclusion in an effort to
have the proposed legislation enacted and
placed upon the statute books. ! think
will be successful.
Representative BurIeson Of Texas, who
has fought harder than any man in the
House for legislation prohibiting dealings
In cotton futures, will aid Mr.. Scott fh.
to A~ht