The Fulmer Act, passed by Congress during the closing hours of the last session, made compulsory a new set of standards for grading cotton in all interstate and foreign transactions. In alarm, the representatives of the principal European cotton markets hastened to Washington, being in doubt as to the effect of this new law upon their interests. Despite the curt and bureaucratic manner in which the law was passed, however, its outcome seems likely to prove beneficial to every one. The standards, which are now due to be followed all over the world,...
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