Future Trading Act

Future Trading Act

The Future Trading Act of 1921 (ch. 86, USStat|42|187) was a United States Act of Congress intended to institute regulation of grain futures contracts and, particularly, the exchanges on which they were traded. It was the second federal statute that attempted to regulate futures contracts after the short lived Anti-gold futures act of 1864.

The act imposed a tax of 20 cents a bushel on all contracts for the sale of grain for future delivery other than those on exchanges regulated by the US Department of Agriculture that met standards set out in the statute. Twenty cents a bushel was considered a large sum by the standards of the day.

The Act was held to be an unconstitutional by the US Supreme Court in Hill v. Wallace on May 15, 1922. About four years later, on January 11, 1926, the Court announced a related decision in Trusler v. Crooks.


Wikimedia Foundation. 2010.

Игры ⚽ Нужна курсовая?

Look at other dictionaries:

  • Trading while insolvent — is unlawful in a number of legal systems, and may result in the directors becoming personally liable for a company s assets. Under UK insolvency law trading once a company is legally insolvent can trigger several provisions of the Insolvency Act… …   Wikipedia

  • trading — (1) The activity of buying and selling financial instruments or commodities for profit. Individuals or entities may engage in trading either strictly on their own behalf or for current or future transactions with customers. Trading profits may… …   Financial and business terms

  • Future of newspapers — Newspapers: a global industry in transition The future of newspapers has been widely debated as the industry has faced down soaring newsprint prices, slumping ad sales, the loss of much classified advertising and precipitous drops in circulation …   Wikipedia

  • Trading while insolvent (UK) — In many legal systems, once a company becomes insolvent, the directors have to take particular care. Under UK law, trading while insolvent can trigger several provisions under the Insolvency Act 1986 which may have the effect of making directors… …   Wikipedia

  • New Zealand Emissions Trading Scheme — See also: Climate change in New Zealand The New Zealand Emissions Trading Scheme (NZ ETS) is a national all sectors all greenhouse gases all free allocation uncapped emissions trading scheme. The NZ ETS was first legislated in September 2008 by… …   Wikipedia

  • Courts and Legal Services Act 1990 — Courts and Legal Services Act, 1990 Parliament of the United Kingdom Long title An Act to make provision with respect to the procedure in, and allocation of business between, the High Court and other courts; to make provision with respect to… …   Wikipedia

  • Landfill Allowance Trading Scheme — The Landfill Allowance Trading Scheme, LATS, is an initiative by the UK government, through DEFRA to help reduce the amount of biodegradable municipal waste (BMW) sent to landfill. [ [http://www.defra.gov.uk/Environment/waste/localauth/lats/intro …   Wikipedia

  • Commodity Futures Modernization Act of 2000 — The Commodity Futures Modernization Act of 2000 (CFMA) is United States federal legislation that officially ensured the deregulation of financial products known as over the counter derivatives. It was signed into law on December 21, 2000 by… …   Wikipedia

  • Dodd–Frank Wall Street Reform and Consumer Protection Act — Full title An Act to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end too big to fail , to protect the American taxpayer by ending bailouts, to protect consumers… …   Wikipedia

  • European Union Emission Trading Scheme — The European Union Emissions Trading Scheme (EU ETS) also known as the European Union Emissions Trading System, was the first large emissions trading scheme in the world.[1] It was launched in 2005 to combat climate change and is a major pillar… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”