IDEAS home Printed from https://ideas.repec.org/h/pal/psitcp/978-3-319-93184-5_3.html
   My bibliography  Save this book chapter

The Grain Futures Act of 1922 and the Dominance of the CBOT

In: The Government of Markets

Author

Listed:
  • Rasheed Saleuddin

    (University of Cambridge)

Abstract

Congress passed the Grain Futures Act in 1922 soon after the Crisis of 1921, when wheat prices fell more than half. Contrary to the accepted view that the regulation was a failed attempt to control the markets, the legislation was almost fully ‘captured’ by the Chicago Board of Trade (CBOT). The Chicago futures markets benefited substantially from the legislation, gaining legitimacy in the Courts and in Congress, while cementing a protected monopoly that would not be broken until late in the twentieth century. On the other hand, the US government gained the right to obtain hitherto unavailable information about the markets, publish such data and perform in-depth analysis for use by the regulators, Congress and the futures market participants, themselves.

Suggested Citation

  • Rasheed Saleuddin, 2018. "The Grain Futures Act of 1922 and the Dominance of the CBOT," Palgrave Studies in the History of Finance, in: The Government of Markets, chapter 0, pages 87-148, Palgrave Macmillan.
  • Handle: RePEc:pal:psitcp:978-3-319-93184-5_3
    DOI: 10.1007/978-3-319-93184-5_3
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:psitcp:978-3-319-93184-5_3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.