The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1912-01-30
STOP GAMbL|NG|
In Cotton and Other Farm
Products, Says Goodwin
Representative Goodwin OF the Sixth
District, Discusses and Explains His
Bill Which He Thinks Will Project
the Farmers

the Farmers.
Washington. D. c., JAN. 27.-Rep-
resentative Goodwin ofthe. Sixth Dis
trict. has introduced an anti-option
Dill. Speaking of it today. MI. God
VAN said:
Il have introduced a bill In Con-
gress today which l think. will end
gambling in cotton and other farm,
products on the exchanges For
years, you know. there has been d
deep seated conviction among the cot
ton planters. for instance. that gamb-
Ing IN h futures was doing them a
great injury. Recently the co,n1u,s-
one of Corporations, Herbert Knox
smith, made a thorough Investigator
OF the cotton exchanges AMI showed
beyond a doubt in a four volume re-
port that the cotton growers had
ABUNDANT ground for their Opposition
70 some OF the practises carried on by
cotton SPECTATORS. Two years &
right on the heels Of Smiths repo,t
Inc House Committee on Agricultural
neld extensive hearings at which the
FARMERS. the millmen, the cotton cx-
change men and all others interested
were heard. Those bearings com
pleteiy corroborated Commissioner
Smiths findings and the complaints
of the cotton planters. And as a re-
"~0 PANp0AS0 Wy l1c l1OlSo
Committee which was passed with
very little opposition and was report
ed to the Senate by the Senate Com
mlttee SO late in the last session that
1t fo'led to be@ore a law"
1.-The bill which I have introduced
Is BASED upon the bill referred to
ABOVE, which would have merely for
pa the use OF the wires and inter-
state for the making of fu-
u contracts OF the exchanges where
there was no intention whatsoever to
ever acquire Or deliver actual cot
ton. While my bill Incorporates that
principle, and would not affect the
legitimate buying and selling of cot
ten futures, where there was the in
tentlon to actually acquire or deliver
cotton or title to cotton, it also
strengthens legitimate buying and SELL
ing OF cotton futures by requiring that
the specific grade contracted for shall
be delivered according to the contract
and therefore prevents the present set
Ting of a contract by what is known
Las differentials by which the differ
ent grades are substituted and injury
is worked to the public in favor and
to the advantage Of the cotton ex-
change men.
In answer to the question as to
whether h bill would end the cotton
exchanges, Congressman Goodwin an
swered mo-" most emphatically, and
said. THE bill will not affect in the
least the legitimate buying and selling
Of cotton futures on the part Of any
except those who are engaged in m
adulterated gambling. Legitimate
trading will still be possible and there
is no reason why any one should be
affected in any way except those who
are commonly called cotton gamb-
'ers.' If it becomes a law there ie
no reason on earth why there will
not continue to be daily quotations
and daily transactions in The buying
and selling Of cotton. The bill is a
result Of considerable study and has
been worked out after a humber of
conferences with Congressman. SEN
| atOrs and uthe representatives OF va.
rious farmers organizations such as
the Farmers Union and to which
have been a party"