Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1921-06-10
GAMBLERS IN FARM PRODUCTS


selling annually by professional gamblers grain
changes of the vicious harmful things
commercial and industrial life today. must be stopped
The bill abolish gambling in farm products introduced
the short session.
mendous demand for it's believe that agricultural
legislation the has
many asking did this gambling
bill The BILL to succeed the old ntgambling BILL has
improved and believe capable previously
proposed law.
If this subject gambling simply an abstract theoretical
question: without application fellow beings
opposed it, from principle form justice and
play But this gambling grain and touches the
mate welfare of and child in this country
absolutely reaches right down into the farm home CANDLES
the products which those farm homes depend living
and children intimate and so all eraspnp in its
greed, 1 am fighting for it.
Chicago receives average million bushels of
grain In there sold average Chicago Board
OF Trade 1s billion bushels of grain for future delivery
words the dealers Chicago for
delivery than 81 times much grain
Chicago market In they agree deliver future
grain than there wheat rye barley grown
the whole world in They sell what doesn't
Further although far Chicago goes 32 million
bushels of grain delivered annually that is avail
able for delivery these future sales and it auoratvey
that OF all these future trades made Chicago
more than SO cent of them followed delivery
grain Less than 2S10o per cent these future
in grain actually result in delivery grain authoritative
reports declare
The foregoing figures enough to condemn the
strous gambling that has grain
exchanges for those figures ypcay the gam
ling on the grain and cotton exchanges What
to mack fair profit living grain when he
must against oadedice game sellers fix
him in their dollars worth of farm prod
ucts that do not exist.
Once the grain growers the
their business Once in other words
them and they the products that have
year OF work and waiting and hazards produce When they
market they find that market dominated by hands of
group Of gamblers whose whole
service for honest but grab every penny by
turn Of the market that they bring about by fair
manipulation
Last after harvest America had almost 2Oo
million bushels Of they began to take it to mar
k what did they nd They the Chicago Board of Trade
which steel and building facing paved
wheat to sell than existed produced all year
They found that the Chicago Board annually
delivery billion bushels of wheat billion bush
els Of wheat that the Chicago Board every year for
future delivery approximately three times much wheat
whole world produces in year.
Gould anything be damnable are the millions oil
grain coming market with tohardened hands and
honest product guy expecting to get fair price for
wheat Here bunch Of soft gamblers
with future sales with nothing but wind down the
price Of the honest grain that the worker produced
To make clearer suppose the automobile industry subject
to the Chicago Board Of Trade just the
Suppose the automobile industry had yearly crop million
automobile and when crop
bes and before the market
the Chicago Board of Trade began selling future automobiles
and continued to sell future automobiles they sold 22
million future automobiles, 2Oa million existed
the What chance would the automobile
with that kind of price making machine in competition it'll
Every time the automobile dealer sell automobile
would be the Chicago Board of Trade competing with
automobiles
ridiculous comparison? Not at ALL If you grain pro-
iucer realize that all accurately parallels the
grain No matter how much how little produces
what he according supply
there stands the Chicago Board of Trade gang
and every three times much wheat world
produces For bushe of wheat produced in the world
stands the Chicago Board of Trade with three phantom
wheat with three bushels of wheat that do they
three bushels ghost wheat into the worlds supply and ham,
mer down the price that the producer receives
And the speculative short seller who sells doesn't own
what he within his reach and often doesn
exist ne does entirely under
little devices used in business namely
liver How he deliver what doesn't exsg He
intend deliver The records Chicago Board Trade show