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and Chicago; the Mercantile Exchange, which deals in many farm
products, in Chicago; and grain exchanges in many of the large cities
of the Midwest. home exchanges, like the Chicago Board of Trade,
provide market services for several kinds of products. These trading
posts where products may be bought or sold are called commodity
exchanges.
The security exchanges, on the other hand, are meeting places where
stocks and bonds are traded. Like the commodity exchanges , they help
serve the economic life of t he country. But when their operations get
out of hand, they may become very dangerous.In l929, the security
exchanges,or stock market, contributed to a crash a sudden, sharp
decline in the value of securities. Many people lost fortunes;many
corporations were bankrupted; many workers lost their jobs. The Crash of
l929 has been attributed to many causes, among them wild and unwise
speculation by many people and dishonest practices on the part of some
businessmen and of some members of the exchanges.
Today,however,investing through security exchanges and trading on
commodity exchanges has been made safer by regulations set up by the
exchanges themselves and by regulations of the United States government,
In l922,the government instituted the Commodity Exchange Commission
which operated through the Department of Agriculture; and in l934,the
Securities and Exchanges Commission, to protect investors and the public
against dishonest practices on the exchanges.
37.Security and commodity exchanges are meeting places for buyers and
sellers of__________.
A. stocks B. grain C. securities D. all of these
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