Cotton Futures Act

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Cotton Futures Act
Great Seal of the United States.
Other short title(s) 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
Citations
Public Law 63-174
Stat. 38 Stat. 693
Codification
Title(s) amended 7 U.S.C.: Agriculture
U.S.C. sections created Chapter 1 §§ 1-22
Legislative history

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 the Act 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.

External links[edit]

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