The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-12-08

IMPORTANT TO DOMESTIC AND Fo-
REIGN COTTON GROWERS
AND DEALERS.
The following circular has just been male
public, and naturally attracts much attention
in the American cities and will, no doubt,
excae much interest in Europe.
NArcnEz Oct. %, 1888
SrR-A there can no longer be any doubt, but that
the cotton crop of this and tire adjacent States, will
be unusually short this season. and you may de-
sire "a postpone the sale of your cotton ill such time
as the manufacturers and spnners can be satisfied of
the extent Of the deficiency, in order that you may
be able TO realize proporonaie additional price for
your crop, beg leave 10 inform you, that am now,
as agent for Humphreys 81 Biddle, Of Liverpool,
prepared TO make fair advance, either in current
funds exchange, you may desire, on any cotton
you may be disposed TO ship 10 my house, and will
agree % have your cotton held till next summer, If
desirable, in order that you may realize the best
market price of the season; giving you, al the time
OF settlement, the benefit of all The Exchanges, (boh
foreign and domestic,) and have no hesitation in
giving II as my opinion that every planter thai ships
his cotton IN this way will realize at least ten dollars
per bale additional over the present market price
as freghts are at this time unusually low ca pennyO
should recommend that cotton go forward as early
freightS, to be held for late market most for The
rest OF the planter,
Planters who reside announcement to Natchez, and
who desire 10 ship through me, under this arrange
ment, will please forward their cotton 10 Morris
Willard New Orleans for re-shipment and send
me Duplicate Of Steam Boat Bill of Lading, when
the advance will be RENTED as they may request or
placedto their credit In any bank and certificate of
depoSie forwarded them.
All cotton thus shipped will be covered by an
open policy Of insurance against river and sea risks
and cotton will be forwarded from Mississippi d-
reel or via New Orleans requested by the planter,
when lett to me, Twill forward from the point can,
on the best terms.
As the foregoing arrangement, requiring a large
outlay al capital is made for the exclusive object of
promoting the interest Of the planter, hope il may
so far meet your appreciation, as 10 induce your pa
tronage. ....
/ am very respectfully,
JOHN INGERSOLL.
." Agent for Humphreys g. Biddle.
Messrs. Humphreys and Biddle, Of Liver
pool, are known to be branch Of the Bank
of the United States Bank Of Pennsylvania;
the senior partner being mere agent in the
concern, and the junior, the son of the Presi-
dent of the Bank. The "agent' of the firm,
Mr. John Ingersoll. is said to be the son Of
the celebrated CHARLES ]. INGERsoLL, who
of late has been preaching war against all
banks carries his radical loco: foco doctrines
to nearly equal extent with those practiced
by the triumvirate of France, during the revo-
luton, and is the special favorite Of the admi-
nistration, as indicated through the columns
of its official organ There may be some
thing more than will strike the eye Of the
casual reader connected with this agent and
his agency.
Who, unless backed by thirty-five millions
of money, could venture to propose such ia
cilities as are offered in this circular? Were
we to offer an opinion, we should say it would
be unwise for any planter to avail Of them for
the purpose Of having his cotton held till
next summer" Such course will, in all
probability, add to the expenses and diminish
the nett proceeds. One of the most import
ant benefits to this country, following the es-
tablishment If constant and regular intercourse
between it and Europe, by steam power, in
our opinion, will be the regularity that will be
established in the price of the great staple Of
80 $500 HuCtudllOHS mat formerly
occurred in the price, generally injurious TO
the planters and all other parties, from specu-
lations and other causes, will probably, in
great measure, be done away with hereafter
The planter, when he sends his cotton to
market, at home will know the price the qua
lily bore in the great foreig en- market, about two
weeks previously; and will be enabled TO OBJ
tain about that, deducting therelrom the usual
charges. Any attempt at monopoly, that may
be made, with this constant ntercommunica-
ton, will undoubtedly be resisted, and mus,
fail, attended with disastrous consequences to
those who undertake it.
The New York papers state that, the agents
of the United States Bank had appeared and
made large purchases of cotton at Charles
ton, Augusta, Mobile, and New Orleans.
The journal of Commerce, of Monday last,
contained all able, interesting and important
article on this subject, which we shall copy
into our next paper