The Cotton Futures Act of 1914 authorized the United States Department of Agriculture to establish physical standards as a means of determining color grade, staple length and strength, and other qualities and properties for cotton. It was intended to minimize speculative manipulation of the cotton market.
The Act was rendered unconstitutional in Federal district court because it originated in the Senate. As a revenue act, it should have been drafted in the House. It was replaced by the Cotton Futures Act of 1916.[1]
References
- ^ Markham, Jerry W. (2002). A Financial History of the United States. M.E. Sharpe. p. 96. Retrieved 19 January 2020.
External links
- 23866584
- "Rules and regulations of the Secretary of Agriculture under the United States Cotton Futures Act of August 18, 1914". U.S. Government Printing Office. 1915.
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