Bill to Control Cotton Dealings

THE Bombay Government has published a new Bill to provide for the control of cotton dealings in the Presidency. Owing to the unregulated speculation in cotton and the artificial raising of prices, it was considered that Government should do something to control contracts. Certain rules were passed under Defence of India Act in June last and the present Bill is intended to give permanence to these rules during the period of the war and for some time after. What principally led to this control were the long period contracts and their narrow basis, which led to undesirable market fluctuations and artificial prices. The present Bill is designed to substitute short term contracts for long term settlements and also broaden the basis of contracts, with power to fix the market rate for all settlements.