Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-10-31
GRAIN FUTURES ACT
HAL TED BY ORDER
OF CHICAGO COURT
In Junction Is Granted
Against Enforcement
of New Law.
EXCHANGES WILL TEST
MEASURES VALIDITY
Legislative Committee Charges
Agriculture Department
Failed to Cooperate.
STATES RIGHTS ARE INVOLVED
View Advanced Business Sought to
Bc Reguintrd IL Noi Inter-
EXCHANGES WILL TEST
MEASURES VALIDITY
STATES RIGHTS ARE INVOLVED
Wow Advanced Business Sought To
Bc R~guintcd IL Noi Inter-
stntc Commerce.
Try Assnciatcd rressl


CHICAGO. Oct. 3O.-I.ack Of proper
cooperation by Ia. United states
Department; OF Agriculture In the
consideration Of national legislation
Is charged In rcpOr; by the lcgisla-
tiSc committee of the principal grain
exchanges of the country. The re-
port was made public this evening.
The report was "A factor in the III
Ing of petition today By III. Chi
caGo Board of Trade for an iniunc-
non restraining the government from
enforcing the grain futures act. au,,
an "rdcr preventing enforcement o.
'he law, pending hearing on the
petition. November 10. was issued nv
Federal Judge Carpenter. This action
~ the hrst step on the part of the
grain exchanges to test the consti-
tutionai!ty OF the law.
Declare Inv Unsnund.
The committee In the report. which
covers "A two-ycar period OF leGisia
tive turmoil. outlines evidence placed
before the Senate Agriculture Com
nittec, which. II declared, showed
clearly the unsoundness OF tn. law.
As result Of Il series Of confer
cnccs between representatives OF rho
grain trade and the Secretary of
Agriculture" the report says. There
was evolved number of amend
men's. which. In the opinion Of the
grain trade. would. IL adopted. make
II possible for the exchanges to func-
ton under the act IL fairly adm,r,s.
tered"
Ihe Dill Was reported out for pas
sage. the report continues, with :
out Incorporating many OF the most
important suggested amendments
ai'er IL had seemed probable the
senate committee would adopt prac-
'''h''s all OF the proposed changes
Asserts Arrnignmcnt Unsupported.
declaring section three OF the bill
contained AN arrangement OF futures
f"oihs unsupported by evidence" the
report said II was evident through
OUT the hearings that the intent OF
thc Department OF Agriculture was
not that section three should convey
an accurate picture OF the operations
involved In future trading. but should
establish firm foundation for th,
contention that future trading was
aHrcttd with national public in
'crcS'' thai 1t was at times Il burden
upon or an obstruction to. interstate
commerce and that consequently
Federal regulation was necessary
The law enacted TO take the mace
Oh the former Capper- -Tinchcr ac,
declared unconstitutional by the Su-
preme Court was passed 10 become
eHcctive November
lnterferrs With Stntes' Rirht.
Inc eill OF complaint. filed bv Hem
~ =. Robbins. counsel for the board.
charges that the law seeks TO repu
late as interstate commerce trade
that is wholly State: that it inter
feres with State rights to govern
exchange. and that II seeks to de-
prife board members OF their prop
erty by admitting representatives Of
cooperative bodies and permitting
them To rebate commissions i'm viu-
lation of rules observed by other
members.
Further charges of unconstitut!on-
atty arc made on the ground that
the law makes violation Of its pro-
visions crime and constitutes the
Secretary OF Agriculture the Sccre-
tary OF Commerce and the Attorney
General commission with power
to deprive offenders of their rights
To thereafter pursue a lawful avo-
cation; whereas. such criminal laws
arc. under the Constitution, enforce
able only in courts" with a jury
trial
Other sections granting wide pow
CONTINUED oil Page 4. Col. ~