The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1912-05-22

|
Washington, May 19.-After warm
contest in the Senate committee on ag-
riculture Senator E. d. Smith. Of
South Carolina finally succeeded in
getting favorable report on his bill
to regulate contracts for the future
delivery Of cotton. The vote was
70 g.
At one time it looked as if there
would be tie vote, but the arrival of
Senator Page, of Vermont, who voted
! 20 report the measure favorably, turn
| ed the tide. The Vermont Senator re-
| 4rVed the right to oppose the bill on
the floor Of the Senate. but did not
wish to prevent its coming out of
committee.
The bill was introduced by the
South Carolina Senator on the 18th Of
last January. He tried repeatedly TO
get it up in the committee on agri-
culUre, to which it had been referred,
and Of which he is a member, but he
| encountered a series Of delays. On
March 26 Senator Burnham, Of New
| Hampshire, who is the chairman Of
| the committee, suggested that the bill
be referred to the Secretary Of Agri-
| culture for his consideration. To this
Senator Smith agreed, but he did not
Know until about a week ago that
the Secretary had on the 1st Of April
written Senator Burnham a letter en-
dorsing the bill in very definite terms.
AS soon as he discovered this the
author of the bill pushed the matter
with renewed vigor.
About a month ago Senator Brun-
ham appointed a subcommittee to
consider the bill. The personnel of
this subcommittee is interesting. Sem
ator Smith, Of South Carolina, was
made chairman Of it, but his associates
were Senators Glggenhenn, Of Colo
RADIO; Percy. Of Mississippi; Craw-
ford of South Dakota and Page, Of
| Vermont. Senators Percy and Gug-
| bill, and Senators Page and Crawford
have taken no active part in the pro-
ceedings, thus leaving it impossible
to get any report from the sub-com-
mittee, except that it could not agree.
| Senator Smith brought the matter
up yesterday before the full commit
tee and fought it out. He had vigor-
Gus support from Senator'S Gronna, Of
North DOkota; Chamberlain, Of Ore
| gon and Gardner, of Maine; and af-
ter a lively session he and his sup
porters succeeded in defeating efforts
| for further delay.
| In the progress Of consideration in
committee the original measure has
been entirely rewritten, but Sena-
tor Smith says that ii is now stronger
| than ever, although the penalty for
| each offence has been reduced from
| Imprisonment for three years or fine
| of $4,000, or both. to "a fine of not
more than $1,000" The text of the
bill as favorably reported to the SEN
| ate is as follows:
BE it enacted. ETC., That any per-
| son, partnership, joint stock company,
| society. association. or corporation.
| their managers or officers, engaged in
! Interstate commerce, in making or
offering for sale any contract or con-
tracts for the future delivery of cot
| ton shall specify the grade or grades
| contracted for in each and every con-
tract; and such grades as is, or grades
as are. contracted for shall be accord
| standardization:
Provided. that the seller of sub
| contract as herein provided for may
nave the option to deliver one grade
above or one grade below the grade
| contracted for. And the difference in
price between the grade delivered
| and the grade contracted for shall be
the actual commercial difference be-
tween such grades as obtained the
! day previous to tho settlement Of such
contract. And it shall be the duty Of
| the department Of agriculture to
standardizc the grades of "upland"
| and gulf" cottons separately; ana
such grades as are established for
both "upland" ana gulf cottons
shall not ho below good ordinary or
ahov" middling fair. 1t shall he the
| duty If n" department of agriculture