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Speculation and Gambling in Options, Futures and Stocks in Illinois

Speculation and Gambling in Options, Futures and Stocks in Illinois


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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. 1921. Excerpt: ... OPTIONS AND FUTURES Grain "Futures" and Congressional Legislation. The Tincher bill to regulate dealings in grain "futures ' recently passed by the House of Representatives is a questionable exercise of congressional power. The power, or lack of power, was the subject of argument by Samuel Untermeyer and John G. Milburn during the hearings before the Committee on Banking and Currency of the United States Senate on Senate Bill 3895 (1914). Congress has the power to tax, but the power to regulate under the guise of taxation is questionable. The only other constitutional provision under which Congress may regulate trading in "futures" is that relating to post offices and post roads, and that is also questionable. Dealing in "futures" is not interstate commerce, Ware & Leland v. Mobile Cownty, 209 U. S. 405, and the question of the validity of the congressional legislation will be, if it becomes a law, an open question. Grain "Futures" and State Legislation. The general assembly of the State may regulate and, possibly, may prohibit dealings in "futures." To prohibit such dealings would be a calamity, but to regulate them is a necessity. The difficulty about regulation arises principally because of the great lack of knowledge on the subject by lawyers, legisla 1 tors and the public. The subject is highly technical and requires much time and labor to master it. It must be studied from the standpoint of history, political economy, law and a practical knowledge of the brokerage business. There are several classes to be seriously affected by legislation on this subject--the producers and consumers, the grain dealers and speculators, the brokers and the gamblers and last, but not least, the thousands of people who suffer by some of the nefarious practices carried o...


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Product Details
  • ISBN-13: 9781151671981
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 24
  • Spine Width: 1 mm
  • Width: 189 mm
  • ISBN-10: 1151671983
  • Publisher Date: 01 Feb 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 64 gr


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