Cotton Futures Act
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|
|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|
|Public law||Pub.L. 63–174|
|Statutes at Large||38 Stat. 693|
|Titles amended||7 U.S.C.: Agriculture|
|U.S.C. sections created||7 U.S.C. ch. 1 § 15b|
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.
- "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.