THE WHEEL OF FORTUNE 



large membership of wealthy men, closely allied with 

 banking institutions, transportation companies, and 

 with certain daily newspapers of their communities, 

 exercise and control an unwholesome influence in local 

 government and public opinion. 



To this solemn indictment no answer has 

 ever been made. 



The point brought out by the committee 

 concerning the refusal of these members of 

 the grain exchanges to produce their books 

 before competent authorities has had a cor- 

 roboration from the records that should be 

 set down here to warn us how strong is the 

 spirit of arrogance begotten of such great 

 power and unusual privileges. 



In the course of the investigation by the 

 Minnesota House Committee a point was 

 reached where the accurate knowledge of 

 certain transactions became necessary, and 

 the counsel for the farmers present made 

 this request: 



I think in view of the suggestion made that there is 

 no necessary expense, middleman's expense, incident 

 to the handling of grain through the operation and 

 dealing in futures, under the Chamber of Commerce 

 rules, practices, and so forth, I am going to ask the 

 representatives of the Chamber of Commerce and the 

 dealers to furnish proof by competent evidence of the 

 total amount of money made by these men as com- 

 missions. First, commissions handling actual grain; 

 second, commissions earned by virtue of the execution 

 of future contracts [making contracts on the future]; 

 12 163 



