The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1921-05-19
IN NATIONS CAPITAL
Tincher Bill Providing for Regula-
ton of Dealings in Grain Flu
lures Passes House.
Joint Committee to Investigate Phases
of Agriculture From Pro-
ductiOn to Marketing.


grain markets of puts and calls, ups
and downs, and indemnities by levying
a tax of 20 cents bushel on such
transactions. A similar tax is provid-
ed on contracts for future delivery,
made outside of contract markets, to
be designated by the secretary Of agri
culture, except when the seller is &C
tual possessor of the grain. The bill
went through practically in it's commit
tee form and will "absolutely destroy
manipulation" according to Represen-
tative Tincher, it's author, although it
does not abolish what is known to the
grain trade as the Legitimate hedge"
Representative Ben Johnson of Ken
lucky charges that the court martial
of army officers responsible for the
escape of Grover Bergdoll, the draft
dodger, was ''whitwash," and de-
clares that the investigation commit
tee of which he is a member will probe
the matter to the bottom. There is
every indication that Ben johnson is
right in his "whitewash" assertion.
What is the matter with 'agricul-
ture? This is what congress proposes
to find out if it can. The house rules
committee has acted favorably upon
the measure proposed in the senate by
Senator Lenroot Of Wisconsin, provid-
ing for one of the most thorough in
vestigations of the character and ma
ture of basic industry ever attempt
ed in this country. Representative
Schall, as member of the rules COM
mittee, voted to report the measure
favorably to the house. It provides
for the organization of joint COM
mittee from both senate and house to
make this investigation. 1t will be
made up of members of the house and
senate committees on agriculture, of
the house ways and means committee
and the senate finance committee, Of
the house committee on interstate and
the senate committee on interstate and
foreign commerce. This committee
will be charged with the responsibility
of Investigating every phase of agri-
culture. 1t will start with the n.y.
pothesis that it ought to be sclf-sus-
tanning industry and that it is not so
now. The investigation will cover
production, marketing, transportation,
expectation, milling and livestock
marketing and handling. 1t will range
from the cornfcld in Minnesota and
the wheatfeld in North Dakota to the
counting houses Of this country and
Europe. AS result Of this investiga-
ton congress hopes to have data which
will enable it to act intelligently in
legislation affecting an industry upon
which the entire future of the country
depends.
John O'Hare, army sergeant, who
guarded Grover Cleveland Bergdoll on
the gold hunting expedition, related to
the house investigating committee how
he was hoodwinked into letting his
prisoner escape.
The threatened revolt of senate cir
reconcilables" over the administra-
TONS new European policy now prom
Uses to be pretty much of dud APP
parently, it has simmered down until
only three republican senators are
ready to cut loose with any fireworks.
And these three are not likely to dis
turb President Harding to any great
extent. They are La Toilette of Wis
consin, johnson of California, and
Borah of Idaho.
Authority to investigate the pack
ing industry was given to the federal
trade commission, when requested by
the president or either branch of con-
gress, by an amendment to the Norris
packer control bill, agreed on by the
senate agricultural committee. The
measure already has been reported to
the senate and Senator G. w. Norris
of Nebraska announced that he would
call it up after the passage of the
army bill.
Secretary of Agriculture Wallace
announces that he has decided not to
change the system of grain grading as
requested by delegations from Min
nesota and other central northwestern
states. From information gained at
the hearings and otherwise" says
Secretary Wallace, land from the most
conscientious study I have been able
to give this matter during the past
three weeks, I have not been able to
find reasons which justify any change
in wheat grades" He promises, how
ever, a further and thorough investi-
cation during the coming whcat-mar-
keting season.
The supreme court upholds the gov
eminent in it's contention that in
creased value Of any capital asset
must be considered in a corporations
profits when taxes are computed.
"The meaning of the act as to in
vested capital is clear" the court said.
ut was to cover actual cost of proper
ty, disregarding anything that does
not change the form Of the invest
ment." The courts decision was given
in the appeal of La Belle Iron Works