The Anderson daily intelligencer. [volume] (Anderson, S.C.) 1914-1915, 1914-06-30
SUBSTITUTES
LEVERS BILL
FOR SMITHS
MEASURE TO CONTROL THE
COTTON EXCHANGES is
CHANGED ABOUT
ALTER CONTRACTS
The House Votes for a Substitute
For Carolina Senator's Bill
After Debate
tBy Associated Press)

Washington. June 20 The i!uuse
substituted Tie Lever bill for regu.u-
'ion of cotton exchanges through pro-
hibitIvc taxes. for the Senate ma;:s,rr
propnsns regulation by mya,s of
prohibiting The uae of the nail:; .n,
the telegraph ior cO-called Samb.i,;.
'ra,. ;ut;unS.
~. Gus" pm, tl.C bill throur.i l T.
!'r suspension q: rules by vote VI
So I" ~ and s"li il to the SENATE
II the SENATE fa:t- 10 agree 20 he
substitute. the differences will
he taken up in conference
Senator Smith. author OF The Sen
ate bill is now campaigning in South
Carolina. and consideration of the
substitute may be delayed until his
return. though Senator Smith. ~
Georgia. or some other Southern sriI-
aior may call il up in The meantime.
Both Would Regulate.
Both the Senate and tie Ijuu...
imca: mrcs aim to regulate alleged evil
practices on the cotton oNrhung".;
which The cotton producers cut,;cn,i
keep down the price OF ooitun sic
Sc:atc bill through til, pOstoII ~, de-
partNncnt and the Interstate ro,p-
mcrce to!h:iission's jurisdiction ever
The telegraph would prohibit The
transmission and lists of sales ri cot
ton that did not comply with the re-
uuirenientS as to the standardization
prescribed in the bill. Both bills
would regulate though they would
not prohibit the transaction. in IN
lures.
The House hill relies on the govern
mcnt taxing. power, instead ol inilibi-
lIions RON the fnufff ::fiiu ftIre- feleErtilS'
proposing a tnx OF five dollars "A bale
on contracts that do not comply wi..l
the requirements.
M tan would be imposed on VIA;
20 regarded as legitimate contracts
The measure would require that coz
tracts must bc in writing: must srec-
lily the quantity Of cotton involved in
each transaction and give names and
addresses oi buyers and sellers. 18th
lie basis grade of the cotton invol-
we'd. Other sections would provide
that the cotton must be of or within
the grades specifically established by
the secretary OF agriculture and in
case other than the basis grade is
delivered, the differences below or
above the contract price would be the
actual commercial difference. anu moi,
the differences arbitrarily fixed by
the cotton exchanges. the commercial
differences to be determined by the
Secretary ot Agriculture by compar-
ison OF prices Of the spot cotton mar
&ctS
Hnd Lively Fight.
y lively vote preceded the vote on
the bill Democratic Leader Under
wood. favoring the measure pointed
out that the whole proposition rested
ON the proposal that Congress should
enter and suppress or regulate
ulate the cotton exchange Of the coun-
try.
Whatever particular power you
Use to enforce Il law" he said. sis Il
secondary proposition. but there is no
better power I'm the government than
the power to tax, which is in this
bill. The Scott bill was intended to
wipe out the cotton exchanges. The
Lever bill Is intended to regulate
them. In two different congresses |
have supported legislation along the
lines OF the recent Scott bill and they
'"NG NiSu III Ill Studlc. ~
similar bill Mt this time would meet
similar fate"
II believe that the practices of the
New York Cotton Exchange cost the
Southern producers annually $780,
000.000." declared Representative Le-
yer. OF South Carolina. chairman of
the Agriculture committee, and author
of the bill. "The purpose OF the bill!
is to eliminate the practices which
constitute such an enormous bur
den"
Representative Wingo. of Arkansas,
insisted upon legislation along the
lines OF the Scott bill
Representative Aswell. ot Louisia- ::
ma. sought to introduce as a substi-
tute for the Lever bill, measure OF
similar intent formed by officers of
the National Farmers Un:on, but was
ruled out Of order. The Aswell bill
would levy tax of 20 cents a pound
Representative Hughes OF Georgia.
opposed the bill. because. he declared
that certain features were detrimental
to cotton growers.
Progressive Leader Murdoch, Of
Kansas, also opposed the bill. He ia
vored The Smith bill. i
Representative Sims, OF Tcnnessan,
ETOke against the msastire