Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1839-09-12

this matter. There are aO0ul ooV Ill'iilollS
Of pounds annually consumed ana manu-
featured in England; ahoat w millions In
France $50 millions in the U. States; !;
40 millions in Germany; 20 in Prussia
and Russia is also becnmlus consumer
besides more than 200 millions in India
and China and more or less now in every
civilized counlry IN the world. 1t we
then combine with our mon!cd institutions,
to hold back and keep ,he price mp, by any
undue action, The result will be, that VIC
shall have the manufacturing capital OF
Great Britain, with the bank Of England
and the resources of The British Govern
ment at its back, in like cnmhinallnI a
sainst us. Secondly, We shall IlaveFrance
ana her capital aud last, though moi least,
we shall have the manufacturing capl-
lais,s orthe u. States, with their banks
against us.
Isubmil in caudour to those lIo have
written this Circular, whether all these
combinations, and counter combinations.
are likely loProduce certainty and s'ahlI-
" in the price, TO the imerican planter.
Are we people who can ac' in concert
We have fixed and sparse populations
We have little or no floating capital TO
meet all these great issues in trade, and
The consequence will be, that VIC shall be
at the mercy Of spectators and hanks,
and become the ridicule and pity of the
world.
rhc Circular, after seTrra! general OBJ
scrvarinnS. has This language TN one
word. is not The important fact disclosed.
rha, such is The unwicldy amount of this
great staple Of southern industry, that II
cannot he sent forward and disposed of al
fair ren!uncralng prices, Though the or
dinary medium of the mercantile estah-
lishmemls Of this country and Europe,
without the direct cooperation of our,
banking institutions! we have become
satisfied of this fact, ous ht we NOT TO Or
sanize system which shall give perfect
security 10 this great interest in the COM
mrrce aud finances Of our country :" If
by "unwicldy amount. the Circular
means the bulk or quantity, and IhatIhcrc.
fore banking institutions" must take
charge Off, and that the individual enter
prise and resources Of great nation OF
people, are unable TO handle or ship 1t, ii is
then certainly new idea, left to be dev
cloped in this age ofimprovement and uili-
tarianism. Perhaps it would be we'll for
US, al oacc 10 resolve the whole uninn III
to banking corp"ralinn, To carry on thai
portion of commerce that may be "un-
wieldv in amount" So far from admit
ting it 10 be an "important fact disclosed.
that such is the unwieldy amount ofcotton.
that il cannot be transmitted" &c., with
uut The direct cooperation of our bank
ing institutions" utterly deny The eyis-
teuce Of any such fact. The only thing
that COTTON has to dread, is the combination
uf tho banks with spectators; from their
guardian care, good Lord deliver us. All
It asks is an open and unt.anlmeIled mar
le,, in the course of regular business. II
has become Of late Il quasi currency in The
commercial world, and will take The place
nf coins 10 n great extent, in fhrrign trans
missions. Gold and silver themselves, are
>'meIimcs suhiccl 10 temporary fluctuations
1T certain points, and become the objects
nf combinations and sprcuiations. So il
will be with colon, and il is vain TO ex
pee, 10 prevent ii. There eau be no pro
luclion equal 10 cotton, in payment of
debts, because it has almost univcrsaliiyof Of
demand, and univc"sality of price; hence, it
is destined to become the regulator of do
ncstlc and foreign exchanges, anu has an
independent value, in that operaton,-
The idea suggested by the Cotton Circu-
lar" is, that banks sllonld advance 10 hose,
who own The article, to nearly its value,
50 as to enable them to hold it as long as
they may think proper, &c. Now, lax"
it thatyou must pay The banks a handsome
per cent. for this advancement. They
must make it profitable business, or they
never will engage in it Thcu remu
nerating price" must he received, to ena
bile the planter to be indcmniied for what
he pays the bank. This result fear,
will moi he so very certain. The whole
analysis oflhe mailer is, that the banks
will advance their credit to the holder