Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1839-05-23
From The N. o. True American Of MAY G.
NR. NOLTE AND THE COTTON TRAD

hh. NIL AND lbE COTTON TRADE.
The Nohe trials com menccd in the Commercial
CouIt IN Saturday, the sth instaa. When ii is
aro"n that there are some twelve or fifteen eases
ending IN that court against Mr.. Noie, involving
10 css a sum Of money than some half n million al
doilirs and tying M so large an amount OF cotton
ts 10 have serious and depressing influence upon
our market, some estimate may be formed OF the
lfUportance Of these trials. aud The results TO Row
ron them. They contain Ia themselves questions
a. commercial law, the correct decision Of wheel will
prove hereafter Of vital importance 10 the Gotten
lradc. 10 the final issue OF these cases. the public
vii get a, the secret the trade in cotton and of The
Ecusl mode by which the Immense crop Of The T.
nted States Is annually disposed al. The mode of
operations adopted by the banks, that have, since
~, sho, from their legitimate spheres, and Invaded
The cotton markcis,ss merchants Of great staple will
tefdliy developed ia the OF the testimony TO
hs elected IN the Note affair. We shall be none
ihe worse off for knowing how immense farunes
nave bsen made from time 10 lime. in cotton dealing
~ bold, daring speculaIors. In fine, looking At the
question. an whates,x hght you may, great benefit
sto be derived to the community from this grand
explosion.
That all descriptions OF usde IN this country. ex
cepi banking, are open TO competition. Is \ great
blessing. The spirit Of the age will ere long open
The door to banking too, If we do not mistake the
sIgns In the political horizon. That The dealing in
cotton. prime article OF necessity should command
the intelligence Of able men, is not surprising whe
the great ramhcations IN its trade are duly consid-
cred. The trade was completely engrossed pre-
'ous 10 lie disastrous crisis Of s37, by clique Of
men. who hal bid fair 10 become a sort Of Eas, In
Ola company. from whose hands the reins of move,
could never be wresied. They fell, however and 10
them succeeded The banks through agents. They
o'o not buy the article OF cotton II is true but they
maze advances upon u. aud thus seemingly ken,
""hio the pale Of their charters. For time, crea,
kooo TO the country was experienced by this co,rse
Ihe operations OF the United State Bank saved 10
the South at least twenty millions Of dollars
At The opening Of the present season. few. a
very lew OF the intelligent saw that the price of
Cotton must rise. from various causes Mr.. ,Nol,e
maze MS appearance IN this qnarer. After a long
"oseacs from New Orleans, aud the memory of his
OBSERVATIONS having gone with the men who
urn moved on the theatre Of action, he found the
ne'd nearly clear. 10 short time, to use the (avo,.
ne phrase OF certain cotton buyer he saw tho
hands Of the great dealers on change. took VOW
qaetiy Out Of their grasp their best trump card.
ano Payea them to his own advantage. Mn
wuo ,'hen nefe' intended to 60 largely into the
market. but the prices had been thrown M nv No.,
operations, and he very pruden,,y declined. An
'h'nss went on smoothly TIL about The middle NJ
April. when. either by Noltes folly or the envv n
others. the result Of the trials will Determine an .i.c
u'e spark was thrown into the magazine, and away
went snip masters brokers. buyers, REGULATORS, sci
iers, agents and all.-NearIy the whole co,ton IN
forest Of New Orleans, and Mr.. Nolle in,o the b,,
9ssn. mad themselves snugly entrspped perhaps for
we remainder Of the season. in the fangs of me law
Ne~ re 90 not pretend To take the part either OF
Ns. No'te or the bsokers and sellers. We shall
seok calmly on snd eadssvor to %, At The real truth
80 soth'ng but the truth. II in our report, Of the
" connected from the proper quarter. When IN.
afsH - ovsr and done will then be time Ia rsv;s~
."s wno's matter, aud to administer justice without
tesr or favor. ''''