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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1911 Excerpt:...to come up for some time, until the western and southern states, from which the protests chiefly come, reach a higher level of commercial experience and economic education. Most of the bills mentioned above prohibit "short selling," dealings in "futures," on "margins" and "options" in the grain and cotton markets, though some bills refer exclusively to one and some to the other. They are modeled largely on the plan of bills which have been already introduced or become laws in their respective state legislatures, to which legislation we shall now turn. in its constitution. The other exchanges indulged in some discussion, but no law was enacted by the legislature. to the same. Contracts made with federal, state or municipal governments were exempted, also contracts made by farmers or planters to deliver grown or growing crops at a future date. Prohibitory transfer taxes and heavy license fees were laid upon dealings and dealers in the commodities to which the bill referred, and each dealer was required to give bond to the amount of $40,000. The commodities enumerated were raw or unmanufactured cotton, hops, wheat, corn, oats, rye, barley, grass seeds, flaxseed, pork, lard, bacon and other edible products of swine. The bill was designed to kill exchange speculation by repressing short selling. The bill was fully debated in the house and passed that body by a vote of 167 to 46. In the senate it was also warmly debated and passed with amendments, one including flour in the list of articles mentioned above, 40 to 29, and was then returned to the house for concurrence. On the motion of Mr. Hatch to suspend the rules and take up the bill at once, the vote was 172 to 124, less than the two-thirds necessary. Congress expired be...