Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1839-08-05


Hnd, whether from insufficient haryesfs, lanpuid
demand for her manufactures or political eo,h,s.-
tiots, "hen the bank may. from an utpeut poIi,v
uhit her discounts aud increase her rate of nte,est
h's even' can never occur, without its having a
blighline influence any surplus of orr pre,, .,.-
pie which might be unsold IN England. SnyrIy.
u The Bank Il England can exercise fnnavoidably{
an iniuehce thus prejuicia We may resorf IN onr
own American banks. as means ofsecury and nm
lection, without the invidions cIamor of combinao,
and monopoly. Il is lime that The absurd and sensa
less cry on the subject Of banks u akiop advances. an
co"on, Hhould be understood and finally nut down
| ihe ruth u.s. thai by the mere purchase of Tho "a,
,ogn exchanges Of The country they advance on near
" every pale OF cotton subject to foreign eypor, aud
'hls without the security Of the bill Of laIjup and
Pohey oil insurance, on the mere personal ,esnons;
/ blliiy OF the drawers aud indofsers Of Tho hill
Qence thsso losses are most comprehensive and d,,
asuous eicVeIy eommeteal crisis and feyuls;or
NOW we propose giving 10 the banks in all case.
Tue higher protection Of these securltles and ,ba,
carry next autumn ono more banks in each of
mo great cotton markets OF The south, should COM
"cnee making advances on The crop. according TO
scale 10 be graduated by what will be 4 safe e.Icn
atlon OF its probable amonu assuming 123 cent. a,
nome, 10 be about the far natural aycrag, and -.
m"nefaIng proc oil This staple a product of six :
locn hundred thousand bales, which il abont n.
'"fGe return as the capital aud labor Of the country
now engaged IN this branch OF industry ~ capabe nj
havestmg-'he enbarrssnlenls of the south-w western
States having prevented The planters in these S,,,e.
rom n'hlng any purchases Of slaves from the Al
,'o"o states during Tie lat Two years. whilst not
less than 10 PEI tent. OF the slave labour az ,ba
s""'h las be"n distracted In the same pc iod from
the cultivation Of cotton, aud applied 10 the rasing
o' PROVISIONS and 10 the construction OF those tx.
'ensre railroads now IN progress gout that por-
ton OF the Union.
! For these advances, propose ,lnat tho banks
should issue to tie planters, merchants aud r,e,ors
OF tue county, on the production of the bin of la
u'nH' anu mo assignment al the policy Of insurance
Foh Notes al suo' descriptions and payable n, su,b
periods NJ a Contention hereafter concentrated
may suggest notes winch may be made 10 answer
oo'h Tue purposes OF currency and exchange The
dcIa1s OF winch we refer To That body.
ny ms arrangement, however, VS. feel satisfied
'ne efe9s an be SO distributed, that from The day
{" me shipment OF our eolion, II may probably bs
hel' AT least six months ia Europe without The fo-
reign consiguce being under an advance of ,,e "a,
th'nf, aud we think II quite easy to confer on tba
houses, 10 which the shipments are eon6ded. sum
cleni strength 10 enable them to hold over for
even longer period should safe r,muncraliuy
P'lres MOI DC obtained on the maturity Of the bills.
With The view OF securing this Strength il ia in.
usPehsabIy necessary tha the consignment s should
not bo too much drosed, but confined ton limited
Number nihou,es IN Liverpool and llavfe who, ac-
1ng as the agents OF those who will come into this
conservative system. will feel common interest.
ana viii naturally aid aud assist each othe, und,ro ali
| ant ctefg c0nitR2cRcg
| This, lellow-tilizens, is bnt brief outline Of +.
great scheme, Tor the protection of our Commerce.
Finance, and Exchanges the details of which n,nst
he len for prooeu,l del bciafio and concerted oea,
To accomplish thus object we hereby invite tbe
planters, iaciors and cotton merchants Of each dis
't'ci oteonniy IN the southern Suites and Terrific
ry OF Florida, together wnh lie Banks in each of
the said States and Territory. send Delee ,trs 10
meet ns IN Convention 1T Macon, Georgia, ON tho
loutlh TUESDAY oil October next, which will be on
tie I'D day of the month, that we may carefully
e"ns'def The important matters disclosed in this Cir
cular.
We invite candid examination of this while
scheme ior the protection MOI alone of son,he,n in,
'efesis' bun for the security OF the commerce of tho
whole country. -
Let II nj least be tested by patient investigation
ana enhe htened research; and If by the nI,n one
ln'u OF mo entte cotton crop of the country can
he placed beyond the possibility of sacrifice it.wil
give security 10 the residue not by enffenchjng il
behind Tie guards Of a speculative nnnnpoly hui by
holding in thai Stale of security which the JUS, ro-
lalons ol supply and demand will always In The
long run, establish and sustain in the trade of !,
great aud civilized country
ihht no time may be lost beg leave 10 an
pf'se You that an agent having our Confidence will
ieaVe lIlls shortly for Europe, clothed with ample
instructions 10 make such preliminary ,,,,,a.
menis with the houses in Liverpool and uayre
winch may by tho sanction of the Convention bays
tue proposed consienments.
we are aware oi the very potent opposition which
pan looking even to self defence must invite both
At nome ana abroad, as il runs counter 10 variety
o. interests too powerful too susceptible Of com
onation not 10 be aroused into active and pp,han.
lneNofhhe hostility II our apology is moi Ia he
iound III the plea. that have u rinht 10 ha,J nm
own property by the means of The credit of nnr own
county, ihen we iea,lessy say mean al ieasi 10
attempt H. in despite of an opposite / however eagey
aud impacable.
We have seen, in the face of a crop of $50 mn
bales an effort made, and vety nearly resulting in
success, TO coerce the acceptance 81 the same fices
winch were incident 10 one of 500 0at lales We.
~ 2ht not 10 resi- our security The adverse ouens
Of The crop, which is growing under the will and
dispeosation OF Providence winch has alfeady snf-
tered IN many quarters Gom an intense droueIt >
and 10 others from 'he ravages of insects desruc
tive 10 IFS growth and maturity. We should look
beyond the era of the shot supply Of The last wear
aud mn apprehended deficit during the ensuing
season. The lessons OF economical wisdom belong
to all seasons and all times, aud there is salutarv
truth in the homey aphotisn, that those who DIM,
take care of themselves will NOT be taken care oil bv
others. Wethereiore submit this call and pyltatio.'
TO you, with the earnest hope that you will be pre-
pared 10 operate with us in a measure in which
we believe the highest interests of our con,tnun.
country are involved.
Weren,ain, very respectfully,
Your obedient servants,
NATli. A. WARE, of Mississippi
| JOHN G. GAMBLE, Florida
THOMAS +. TARF'f Alabama.
w. p. PRATT, Alabama.
DIP. HILLHOUSE. Georgia.
J.J. HUGHES. Yazoo, Miss.
NATHAN McGEHEE, Louisiana.
GEO. MeDUFFIE, South Carolina.
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