Bituminous Coal Conservation Act Law and Legal Definition
The Bituminous Coal Conservation Act was enacted in 1935. The Act was enacted with the intention:
1. to keep the price and wages in the bituminous coal industry high; and
2. to restrict the unfair trading practices during the time of great depression.
The Act was based on a voluntary, incentive based scheme. As per the scheme one who abides the provisions of the Act was provided with tax rebates.
The Act in 1935 created the Bituminous Coal Commission. The Bituminous Coal Conservation Act is commonly known as the Guffey-Snyder Coal Act.
The Act was later abolished by the Bituminous Coal Act of 1937. The New Act regulated the marketing rules and trade in the bituminous coal industry. Further, the New Act declared many provisions of the 1935 Act as unconstitutional. The New Act absorbed the Bituminous Coal Commission of 1935 and established the second Bituminous Coal Commission in 1937. The Commission was responsible for issuing the Bituminous Coal Code that regulates prices, wages, and hours within the coal industry. This commission was later abolished by the Reorganization Act of 1939.