Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1922-02-17
ries in the world. There was Henry F.

Ashurst Of Arizona, VINO used to be cow
boy and lumberjack and who takes
himself very seriously, and Joseph E
Ransdell of Louisiana, who wears a Van
Dyke and specializes in rivers and har-
bors. There was Duncun U. Fletcher
of Florida and one of the Smiths, Eli
son D., Of South Carolina holds the re-
cord in the agricultural bloc, for
Nathaniel B. Dial, her homespun sena-
tor is member. Finally, there was
John B. Kendrick, who exhibits a
charming culture which he somehow
acquired as ranch foreman and cattle
man in Wyoming.
Such is the agricultural bloc as it is
constituted at the time of writing, a
bloc recently dubbed by Senator Moses
of New Hampshire, as the Ken Kap
Klan in honor of Senators Kenyon and
Capper, who are its leading spirits.
These Westerners and Southerners
stand together on measures which do
not take on pronounced political COM
plexion," Senator Capper went on. IF
an issue comes up, however, where it
seems evident that this bloc is to break
directly with a party policy, as, for ex-
ample at the time when it opposed the
tax program of the administration, the
Republican members of the bloc are
likely to caucus independently Of the
Democratic members. Even as group
of ten Republicans SO caucusing, they
are likely to be able to present pretty
strong front and gain serious consider
alton for their demands,
The public is not likely to appreciate
the outstanding legislation that is be-
coming a reality because Of the soil
darity of this agricultural bloc. There
was for instance, the bill which pro-
vided for the regulation of the packers
and the stockyards, which was finally
driven through by the insistence Of the
bloc in August last, was signed by the
president and became law. Under this
bill the secretary of agriculture Is just
low setting up the machinery for the
this government agency will have the
operation Of the great packing houses
and the stockyards so directly under its
care that 1t will understand perfectly
every phase of the packing-house busi-
ness and it's relation to the producers
Of livestock and to the consumers OF Its
products. It will be able to prevent the
charging Of discriminatory rates or any
other unfair practices on the part of
the packers or the stockyard operators
and will be able to turn the spotlight
of publicity upon this element of Amer
lean industrial organizations, which
has baffed efforts at control for gen.
erations.
Another accomplishment of the ag-
rcultural bloc that may not be thor
oughly comprehended Is the fact that 1t
passed in this same summer session the
Capper- -Tincher bill, which so regulates
the trading in grain futures that the
grain exchanges as we have known
them in the past will after the first of
next January cease to exist. This law
seeks to differentiate between specula-
tive dealing and buying and selling in
futures, which 1t regards as nothing
more than gambling. 1t taxes specula-
tion so heavily as to cause 1t to cease
to exist. It imposes a tax Of twenty
cents per bushel upon every privilege
or option for a contract, either pur-
chase or sale, intending thereby to tax
the transactions known to the trade as
puts and calls This tax applies ex-
cept where the seller Is the owner of
the physical grain or where the grower,
dealer or manufacturer Of grain or
grain products makes future contracts
through designated and regulated con-
tract markets.
1.-The administration Of this bill is
placed under a commission consisting
of the secretary of agriculture, the sec
retary of commerce and the attorney
general Under it's provisions the grain
exchange of Chicago, second only as
speculative market to the Stock Ex-
change Of New York city, ceases to be
the huge gambling institution Of the
past and becomes a legitimate market
for the purchase Of actual materials.
Another bit of midsummer legisla-
ton which was secured by the agricul-
tural bloc was the enactment of the
McNary bill, extending the power of
the War Finance corporation for the
relief of farmers. Under this bill the
War Finance corporation was empow-
cred to lend money for the promulga-
tion of export trade and for the exten-
sive financing of banks and banking in
stitutions for the holding Of domestic
products prior to expectation and ad-
vancing money on them while they are
being exported. 1t also provides for the
sale of debentures to the extent of
three times the capitalization Of the
corporation, or to the amount of ST.
500 100000 This bill was signed Au-
gust 25 The War Finance corporation
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