The Hattiesburg news. (Hattiesburg, Miss.) 1908-1917, 1913-12-15
DRASTIC MEASURE
TO PROHIBIT
GAMBLING
REPRESENTATIVE HARRISON IN
,TRODUCES A BILL TO STOP
DEALING IN FUTURES.
NUMBER OF EXCEPTIONS NOTED
Most Important Provision 10 That 1t
Would Not be Misdemeanor For
Farmer to Contract to DeIlver Crop
That Has Not Matured.
(By b. D. Lander, Jr.)

WAnulnsIOu, " OJ DOS' io' NV
most drastic measure yet introduced
Va stop alleged gambling in cotton
AM. all other agricultural products is
that Of Representative Pat Harrison
of Mississippi which was entered in
the House today.
The bill serves as complement to
a resolution recently introduced by
Mr.. Harrison authorizing the Presi-
dent of the United States to cooper
ate by representatives with represen-
tatives of Great Britain and other for
eign countries in an effort to elm
mate gambling and speculation In all
kinds of products in every country.
The bill prescribas that the word
futures" shall mean, in this act, any
contract or agreement made between
persons living in different states or
their agents, to deliver any Of the farm
products described in the act, when at
the time of making the contract the
party contracting to sell is not the
actual owner Of the product.
A number of exceptions are noted,
most important being the provision
that it is not a misdemeanor for
farmer to contract to deliver to a man
ufacturer a crop that has not ma
tured.
The act is made to apply to cotton,
hops, wheat, corn, oats, rye, barley,
wheat -four, pork, lard, bacon or other
agricultural or food products. Pen
atty for violation Of the act, which
violation is described as misdemean-
or, is fixed at a fine Of not less than
the whole sum paid-$1 900 IL the sum
received or agreed to be received Is
as much as less than 1000; but If
the sum shall not amount to $1,000,
he shall be fined $1,000 and in addition
thereto shall be imprisoned for not
less than one or more than FIVE years.
It is further provided that any mer-
chant or exchange board through
which options or futures shall be
made or settled are declared to be
unlawful combination to obstruct COM
merce between the states, and such
board or merchant shall be enjoined.
The act is complete in it's scope
and differs from most bills that have
been introduced along the same line
in that 1t includes many other prod
ucts than cotton. Legislators have
made cotton the object Of practically
all their antispeculation bills, but Mr..
Harrison has included all grains and
other food and agricultural products
in which such speculation is possible.
Representative Lever who Is chair
man of the committee on agriculture,
to which the Harrison bM viii be re-
ferred, has also introduced bill for
the regulation of cotton speculation.
but it is not nearly as broad in its
scope as is Mr.. Harrisons bill and an
effort will be made to have the agri-
culture committee report favorably on
the Harrison bill despite the expected
opposition of Mr.. Lever.
"There is no use dealing with only
, one farm product" said Mr.. Harrison
in discussing his bill" It is just as
wrong and Just as injurious to inter
state commerce to gamble in wheat
or any other grain as 1t Is to gamble
in cotton. My bill does no injustice
to any particular product. 1t puts
them all under the same lava law
that will give the producer and con.
sumer the benefit Of the economic
principle of supply and demand, and
that will allow that economic princi
pie, instead Of group Of gamblers
and spectators, to regulate the prices
Of the products Of the SOIL"
In connection with the new bill, Mr.
Harrison re-introduced his resolution
calling on the Governments Of other
nations to cooperate in stamping out
legalized speculation in food ane agri
cultural products. The only change
in this resolution from the one he
introduced during the last session, Is
~. az y r. y X : Il ~ ~ +. " I. ii K ( Stt Us