Southern marksman. [volume] (Clinton, Miss.) 1838-1839, 1838-12-18
From the Nickshurg sentir
BANK SPEG ULATlONS.


This country seems destined to suffei
from the rivalry between the Union Bank
and 1lr. Biddle Tor he control of the cot
ton trade Between them on merchants
must meyi ably be prostra ell Immediately
and ultimately the planters. - If, instead at
Advancing $50 as he Union Bank propox
ses, fer 400 lbs of cotton, and as Mr. Bid
dIes Agent proposes 10 advance an inde,
finite but ''lIberal' sum, these monsters
would oppose each other fairly in the mar
kei and buy orr planters cotton al SEQ
b9le,-not with their wretched irrede etna
lie sijnplasters, but with specie or its equi-
vaieHt, then our planters would be really
benefited by The operation. But as the
planters will he compelled to pay heavy
interest on this enormous advance. and al
S-a~ase .;ne 10 lake up the deficiency,
when IT, s. 3. or the Barings, shall have
s7ld the cotton in Liverpool, they will find
lacy have been doing losing business
when the day Of settlement comes. The
Brings are 70 have the commissions for tie
Me of tn Union Bank otfon, and Of
curse Humphreys s. Biddle will sell for
he Philadelphia monopoltst But indie
nuden' ofihe odious and injurious mono
Wlv. there are two points in which the
fapters are feeced for The benefit Of the
tu.on Bank and is comp ti1or Mr.. Bid
dc. In he first place. from the immense
mount Of business in he hands Of Hum
wrc,'s e. Biddle and the Barings, II is im-
nsble for them 10 he able 10 d. as much
net .tf IN
Tn as other houses less embarrassed WI b
htSiuese. How can che hou-e do as much
jg'ice 10 the sale of ESQ coo bales of cot
twas anofher house # equal business ca
priv car do 10 10000 bales? Each VIII
chr1e The same commission for their labor;
BIZ i IS ohvious that each cannot render tie
plaier the .sane measur, If Justice Il
matters not however Ia he gamblers who
adauces on the cotton, how il IS sold, The
plaer must make up the deficiency.
Int this ls ho' the only harvest which
the3ank gamblers reap from this system Of
adancing on cotton. They in the first
plae charge the pla Ter discount on his
noi'at The very moment thai he deposies
ms atton with the Bank The next day
the sank managers ship The SINE cotton 10
L'Vfreol and draw on il 10 the amount Of
Sl0a $50 halo, O. perhaps more, sell The
hls Of exchange and pocket The whole
amoNi, premium Tor exchange aod all. II
lh>eis a fund fo# further speculation,
VINO, the planter has actually pnl IN the
i'ahd Of the Bank gamblers. The very
daYaer the PLANTER gets his moaey,"n COT
n. O Il, he uhy
pocEfs tou-ffths of the amount on the
s'me.oion, hul he Planter gets no creflii
On ht notes until account sales all have
nee' ereiyed in this country Tie Bank
: y "lIclearly be seen, has the use of the
p'dH'es money nearly whole year with
o"' aIonno him a cent interest on il. II
i 'I'letie Backs will be chargPdI ~ Liver
poor WITH interest at 3 or A per cent. on
me Alliances. But this small interest only
runs ~ Tie short time between The pay
mem z he bills in Liverpool and the sale
- NE often For instance on The fl s OF
''"oaf, 1889, a planter delivers 10 Mr. l.
w. (alae director but now the cotton
"se" The Union Bank) one thousand
'a'eS Q Cotton. He gees 70 the Bank al
Jackso aud receives $50 ,OO0, minus the
wy. un Tor ore year. " ich al per cent.
= 100 He therefore receives only
poo,zU Bul before he reaches jackson,
M, h@n ships the Gotten TO the Barlnes
o'' hoaf' the Jeaneit or The Clifton, and
o'aws . Barings for S45 or $50 bale;
Say Sooaud add 10 ihls The premium on
s,e'',,'g Tchange. now 10 1-2 per cent. and
~, we pam pockets S55 $50 on tie very cot
, ,4u ~l'ei The p'an'er has put in the hands
u us age,t, before he has even received the