The Hartford herald. [volume] (Hartford, Ky.) 1875-1926, 1921-02-23

actually received at Chicago II
available for delivery on the fu.
lures market, according to the rules
of the Board of Trade. A single
house on the Chicago Board OF
' Trade win sell In three DAYS rs
much grain as is capable of being
delivered on the futures market
during the entire year.
The actual grain available for
delivery at Chicago on future
contracts averages less than 2S
hundredths of one percent of the
number of. bushels bought and sold
on the Board of Trade. In other
words, over 80 per cent of the sales
on the futures" market are not
followed by the actual delivery Of
the grain.
This statistical data has been
carefully compiled by experts and
we challenge any person to show
any substantial error in any por-
ton of the same.
They sell approximately 1S,5Oe,-
100000 bushels of grain on the
futures" market at Chicago an
nr"uv 81 vo'uo rnrrir~ f-o~, ef-
teen to twenty billions of dollars.
We have cited reputable authori-
tics SHOWING that the total volume
Of transactions on the Louisiana
Lottery aggregated not more than
60 millions of dollars annually,
compared to the modest sum of
more than Is thousand millions of
dollars involved in the speculations
annually on the Chicago Board OF
Trade.
We have reported to you the re-
srlt of a conference with a former
employe of the bank at Monte Carlo
and we have cited authoritative
statements as to the operations at
Monte Carlo which show that the
total net receipts of that institu-
tion do not average more than one
third the commissions alone derived
from the sales on the futures"
market of the Chicago Board of
Trade. The gambling on the Chica-
go Board of Trade makes the
Louisiana Lottery and Monte Carlo
look very small and Insignificant.
We suggest the following re-
medal measures:
1. Investigation and supervision
of the activities of the grain ex-
changes. which should be Just as in
telligent and effective as is the
present regulation and control of |
our national banks.
2. Open the exchanges to CO.
lucrative .organizatio of farmers. |
Co-operative organizations today !
are. barred from practically all the
grain exchanges in the United !
States.
3. A more efficient world crop
reportipg system that. will get the
real facts and disseminate the same
promptly to producers as well as to
The market places.
4. The immediate levying of
heavy tax upon dealing in "privi-
eyes," known as puts" and calls
5. The ultinkate elimination of
on the futures" mar
ret.
MIR. Gray Silver, Washington Rep
'esentative of the American Farm
Bureau Federation reports that the
ironna Bill to regulate the packers
las passed the Senate. He further
eports that both Senators Beckham
nd Stanley voted against this Bill.
In legislative way, the most i'm
'ortant things that the organized
armers and shippers of the United
'tates have accomplished are the ,
ills that they have prevented be- ,
oming laws. AS an example of
his, the Transportation Act of 49, ,
0 as introduced into Congress ,
per cent above ex-
enses and taxes on the present ,
alue of the railroads. The organic
farmers and shippers of the ,
'nited States fought this provision !
nd were able to reduce this pay =
lent to two years.
This same Transportation Act i
i'd away with the Interstate Com n
lerce Commission. This was also r
illed thru the instrumentality of I
rganized farmers. This Transpor- I
ltion Act would also have elimi- v
ated all the State Railroad Com O
Iissions. This was also taken out C
the Bill. Y
The farmers of Kentucky have v
OF yet fully realized what the new L
eight rate means to them. III the m