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United States federal law From Wikipedia, the free encyclopedia
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.
Other short titles | Cotton Futures Act of 1914 |
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Long title | An Act to tax the privilege of dealing on exchanges, boards of trade, and similar places in contracts of sale of cotton for future delivery, and for other purposes. |
Enacted by | the 63rd United States Congress |
Effective | August 18, 1914 |
Citations | |
Public law | Pub. L. 63–174 |
Statutes at Large | 38 Stat. 693 |
Codification | |
Titles amended | 7 U.S.C.: Agriculture |
U.S.C. sections created | 7 U.S.C. ch. 1 § 15b |
Legislative history | |
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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]
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