The Yazoo City Whig and political register. (Yazoo City, Miss.) 183?-1840, 1839-07-19

h9N1 knese tatn re the ness
of extfav genee, and have 80 mora strlct
conformity % tle lacls ana story 81 the
fase than page from spllit Travels. 4
The True American has very little know
ledge Of lhe situation 81 tie business 81 tlla
8 Rothchia of New Orleans with Missia-
sippi, Of 81 wilfully lnisfepresenta Il, because
others have done 50. So far from Mississippi
owing those houses near len millions of
dollars, i i untrue that the Ssate has for
the last ten o. fifteen years Il least, owed
them one dollar, Not the arst.dollar Is, Or
has ever been due from our State 70 those
RoshchiIds We know that this assertion
contradicts very popular and fashionable
sentiment, butt Is clearly true, neverthe-
less, and deserves TO be thus explicitly sta
ted. They put forth the great mountain of
moonshine to screen themselves; and to
prove which they exhibit, vast amount Of
debts due them from our planters, without
exhibiting the other side Of tie account, and
it looks very plausible. But what are the
whole factss The iattebfedaess 81 those houses
to oar banks does II this time, and ever has,
erceeded the s0hoLe amount of indebsedaese of
our pfomers Ia them. So that the yacigaiss
and boasted saduonces' from them to as, were
so many facilities and advances from our
banks to our cilizens, THROUGH THEM. This
whole bug-beafs story Of ..taciliies' afforded
our planters by the Commission Merchants
of New Orleans, is the most perfectly empty
humbug that was ever perpetrated in an In
telIigent community It never had the
slightest foundation. The only thing that they
have done in the. whole matter was mere
agency. They furnished nothing, in the
entire transactions, but the necessary sta
tionary. All the capital and all the neces-
sary credit which has been used in our cot
ton trade, with News Orleans, has been fur
nished by our own State. Our banks and
our cotton bales furnished the former, and,
assisted by our plantations, the latter also.
This subject has been discussed at length
in our prints, particularly those at Natchez,
and it has been shown as plain as the sun
at meridian, that those $ f2otkchslds' have
obtained all the claim they may have to that
name, by the performance of mere agency,
in the Mississippi Cotton Trade; and by
which they have not only been supported in
the style and extravaganza described by the
True American, but in fen gears have been
built up into princely riches, and sustained
in extensive speculations, at dead expenss
to our State of not less than foe millions a
year. And that all this has been done With
out the necessary use, on their part, of dol
lar of capital or an ounce of credit. We
say this subject has been discussed at length;
but q birds-eye view of some features of ii
may be given in moment.-A Mississippi
planter draws on a New-Orleans House for
$tO, oo0s-the branch or the agency here
discounts the bill in one of our banks, gen.
orally after its receiving the endorsement Of
one, two or three of our planters, friends Of
the drawer,--the planter receives the pro-
ceeds of the bill, or more fashionably speak
ing, the facilities, the bill goes to New
Orleans and is accepted, and-Mississippi
owes the New-Orleans House ten thousand
dollars! Or more correctly speaking, from
ten thousand .fve hundred to eIepen thousand
dollars.
We are not without information in saying,
that when these seRothchilds'' failed in '37,
they owed the banks in Natchez alone,
about seven miIIions Of dollars. So much for
the ten millions of dollars due us from Mis-
sissippi alone.''
tin the mean time we have lost the trade
of this state''-(M ississippi). If a DISPOSE
ton on the part of our State to conduct our
Cotton Trade, without the Intervention Of
an agency at New-orleans, is to be estima-
ted by the latter as ''IOss, . why it must be
submitted to. Such an idea, however, does
not in our mind, very we'll comport with
the proud commercial motto of our country
&c FREE Trade $ The course of these
suspended firms has driven her fMissis-
sippi) almost to ruin by her attempting to
make New-OrIeans of Natchez, Vicksburg,
&c" The course of these suspended firms
has done.no such thing; and every man who
knows any thing Of our trade and its history.
for the last few years, very well knows il,
Our State has been driven to the adoption
Of Direct Trade with the seas, 50 fer a
WeShaVe as yet been able to accomplish it,
BY laudable, legitimate enterprise; after :
fair calculation Of loss and profit in the pre-
misses, stimulated BY Q usOss r1tinOusIy erpen.
sue experience, not oppossition.And he
continues 'stoengage the whole cotton trade
through the agency Of her banks" The
agency of our banks in our cotton trade, has
no sort Of necessary connection with the
divorce Of the trade from The new "Roth'
childs, 2 and the adoption Of direct trade
By our State. By mere accident the two
occurrences have taken place about the same
time. but the former was prompted 81 cir.