The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1839-08-08

mote peace and good will among nations aud
men. Hence this great engine of the CONNER.
elal grandeur and opulonce of Great Britain,
acting under an enlightened instinct, must rather
desire that its hest customer should at all times
he in condition to meet her eng agoments with
entire panciualisy and success.
But there are epochs in the commerce of Eng.
land, whether from insufficient haryesis, Ian
gupd demand for her manufactures, or political
combinations, when the bank NAV from an ur.
gent policy, limit her discounts, and increase her
rate OF interest. This event can never occur.
without lis having bIighting influence on any
surplus of our great staple, which might be an.
sold in England. Surely ii the Bank of Eng.
land can exercise (unavoldahly,l an influence
thus preludicial we NAV resort TO our own Amen.
can banks, as 4 means OF security aud protection.
without the invidious elsmor OF combination and
monopoly. Il is time that the absurd and sense
les cry ON the subject OF banks making advances
on Cotton, should be understood, and finally put
down. The truth is, that BY the mere purchase
OF the foreign exchange OF the county theF al.
vance ON nearly every bale OF Cotton subject 10
foreign export. and tins without the security OF
the bill Of lading ard poiey Of insurance, on the
mere personal responsibility OF the drawers aud
iadorssrs OF the till Hence these losses are
most comprehensive and disastrous after every
commercial crisis and reyulsion
Now We propose giving to the banks IN all
cases, the higher protection OF these securities,
and that early next autumn, one or more banks
il each Of the great commercial cotton markets
OF the South, ahould commence making aayan.
ces on the crop, according 10 scale to be CAD.
uated by whag viii be a safe calculation u lis
probable amount, assuming II. cents At home,
10 be about the fair natural average and remu.
teen lGuared thousand bales. which is about a.
large return as the 4ctu@l labor OF the eo4utry
now engaged in this branch Of INDUSTRY, Is eapa-
I ale of harvesting. The enb4Erassmeats Of the
South Western states having prevented the plan.
,ers IN these States iron making any purchases
0! slaves from the Atlantic States datug tie
last two years. WaisSt not less than 10 pr cert
81 the slave labor Of the South, has been abstract.
"a III tie same period, from the cultivation ot
Cotton, and applied to the salslUg u provisions,
au4 to the construction Of those extensive RAJ
roads NOS ID progress, Throughout lila, Pcril0a
os the mon.
Tor these advances We propose that The Danks
should issue to the planters, merchants anu lac.
lors 81 the colutry "a the production 81 the iasl
II .a4iag, and the assignment .. tae paslcy q Ia.
sar4ace, Post Notes 81 such description, ana PAY
aisle Il suca peFio.ls a. i Convention hrreafttr
contemplated NAV suggest notes which may =
taaos IL 4n-Wer 10Th the purps.te ii currency and
e1e44orc. tue ,ieta4.s 81 0hlea We rgicr % sbat
ooly. 81 fbls Arrangement howeyet feel
saissaed tie crecl.s e-H u - 1lstf9abd, thar
from the day ii che shipment of chr cotton i
mss gtec4bly u acld 4 e4si * mouth. ID 10
-ope. a.thoa, Tie i3reiza eobs4gnee besng aissis'
II as.ylnc. 81 enc iaEiaiag, 4aa ia thms i quit
cess 10 confer Oh tie a9sl-es t. aa.ca thr sssp
s4 y
hetn to hold oser ior even longer psrtod shoals
s4fe refnaneyassug prices not ). ost4lae4 en III.
maturity II the ai.s.
VII tie yc1 III securing lis strength il j
Iadi.psasaLsy Necessary, th4t TIE .as.gnassau
should pS = too much d,.Fuset but confined {.
..ust.d nutaoer 81 ega-es 10 Liverpool All
Havre, .o, acting = ihe agents 81 4ll Those whl
x4l come lhto lbs conservative system. nl.. re
! i common inteFvs. ard etii u-.lr4lly atl au4 -
-: each ether uaasT 81 4H4 erer4 e9Httassses
Tai-, fellow citizens, j. but tn bfisf outline Q
Z great scheme, III the pEo.ertsoa 0! oar com
! m.rce, Epsnce aai exchanges. this "details ]
allch. nue. T. .e.t for profound elaboration III.
! concerted seton Tot-rsmpltsh this oalect w
asteay invite sae planters, fscfors and coata'
merchants 81 sch district - county ID TIE South
eza States. and tie 'fes+.a-F b; Fsarssl. togeiae
. alta TIC Banks eaeB b; tas sid Stafes an
Fs-ts.eFv, to ~as eeIez 4tes p aeet b ID CoaYea
t5H = Nzcaa, GeaFga, % tae fourth Iaesaat
. 3. Ds,o7ef aaxt. aassa al.. - ~ tae 218 day )
saat montr. taat ae msY carefully e9aalr-r IT,
: important natter d.sesaseL - this Cyfeu4r.
! We Ia91ta candid examination IF this whoi
scheme, ts5 the projection sg, zsoas VI S9HAs-i
Iatafets. #4s for ths security Of Size commerce o
I sas Magsa country.
Latt -2 saas 8a tss.a4 ay Fatssaf .nvessl CATION
+ af tHe entire cotton crop 81 fhe eaautFy cat q
% placed beyond fas possibility Of sacrifices, 4 asl
"a gre sae#ufT 10 the rasl1le, not Ivy gattgHcam
&. aav~ta tre guards % a sPecalatiFe m3aoPgE
a aat ag ho.s.ae Is ia lH-t state 0i security, &bgr
q tas Hsr relations Of supply and demand Ni.i a
aaY- a tire aaag RAN, establish and slsi4tu in q
e .sata II d great and eirllz@1 colutry.
ii lhat 80 Time may 10 lost We Jeg ieage TO a
st ur5=a y94 t.lst SO gent, a5Fug our e186saae
c E.I leave u5s@ shortly .gr Europe. clothed il
a WHp.e instructions, - make sgea preliminary q
4. r1uganeH's aita lhs houses IN Liverpool at
e. iiayre, ~a5eu may, by THE sanction ot tie ca
BE- yaraaa, H4ga lhe proposed cogslEHmsHts.
4s We are aware OF the gerF potent oppasitIo
.s which plan looking even 10 -slter.deuca. ASA
u Hgte lg.a 81 ho..a and abroad. 81 It runs count
" 10 o variety Of interests, tgo powerful and i
aseePlg4s 1t combination, not 10 b. aroused iU
Of active. add Pera4ps memorable hostility. II q
Il agotygF l. H1s fg hs found ia tbs pisa. that y
81 have right - bold a1r osn property By +,
IN meaas Of taa credit Of our country then
iearte+sig say, tes n.san at isast to qtfempt IT.,
h. desgs's II U.s. opposition however eager and II
y piaca5'c.
Il. " have seen in the ftcr Of a crop ef / $50 d
ee BALES, au effort made, snd very nearly re.altl
al .u sacee~, 10 egerea the acceptance ot tho sar
he grEegR. wAfEH we're incident 70 oup of -H0 %