The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1839-08-15
TO tie cOffon Planters q he Southern
Safes

10 lAs CoitOn Planters ef ne Southern
States,
FEI1ow cIrIzESs: Voc are On ihe
eve Of . very extraordinary reEnlslan IN
the financial concerns Of your section Of
oar counry. xhIch Cannot fail 10 act on
othsr norton. Of The unian with intense
ssseriIT. With a crop exhibiting deli-
cheney Of 500. 900 bales. the surplus in
Euraps 10 likely IN be nevertheless lar
ger on the la Of January next. Than il
uas on the FIRST Of The present year. Re-
eIsmaiions 70 The extent of ten or fifteen
millions are likely 10 fall on our CONNER
cial enterprise and capital. which must
be provided for before the Let Of March
next ensuing, which are likely 10 produce
extensive bankruptcies, and suspension
Of spseis payments on The part Of our
banks.
Should The surplus in Englsnd and on
the Continent be met By extensive ship
men,s from this country early in the en-
suing winter. not only the surplus Of the
crop Of 1888 viii be sacrificed, but that
Of The present year depressed 10 elk or
eight cents. These consequences. with
the universal dlsIess that will spread
throughout The country. viii complete
che picture Of The prOslHsiiOn Of the pros
periy Of our country.
II wIll be asked, may not these Gala
mites be eiIher svsrled or essentially mi
ugalsdl We believe they may. by .
system Of 6rmness. ssgaeity, and wise
preesuiion. The true policy OF The eoun-
try 10 10 keep The cotton crops back from
foreign shipment until the Ia January
next. The consequence will be. that the
surplus Of The LAST years crop will be
worked of without serious loss. and The
crop of the present will come to marke,
not oTersiOcked 10 excess, and move of
Of fair remuheraiing prices. The inte-
rests OF the present holders 81 cotton and
growers are altogether identical. But
this result, c0mhined with the ability oI
eOnsieness in Europe 10 hold. can oniy
be eonsummaied by an organization
which has been recently suggested in the
Cotton Circular, which 10 avourhed by
Southern planters Of the highest personal
responsibility. in The city Of New York.
Fellow-elIizens Of the Souih! Come
forth and sustain the proposed Macon
Convention. Elect delegates from every
part Of the cotton states 10 attend. The
banks have been invited TO send their re-
representatives.. Much may be done 10
improve the exchanges and 10 inyigOrste
the currency OF the country. IL this
Convention was recommended by no 9th
er consideration. this would give i, deep
and psrsading interest
The signers Of The Circular have no
such absurd and wicked idea - to pro-
pose TO give 70 the country an iuedeema-
bic spurious post note circulation, but .
medium that shall circulate, with The
mere difference Of interest on time, from
one portion Of The Union 10 The other.
Foreign combination, and the un(srors-
bic aeIlon Of The Bank Of England. threat.
en- our great staple with utter prosiralion.
The london Times, the organ Of this
great engine. announces. on the 2d Of Ju-
~. that The restrictive measures of the
Bank Of England " are aimed al This COM
modify" COTTON " and The speculs,ons
in H." and an officer connected with The
Bank Of England has asserted that cot
Ton 10 too high. and must be brough,
down 20 per cent. more" These are
serious facts; look 10 lhemm!
Let The talent. enterprise. and capital
Of The SOuIh rally ., Macon. and all will
yet be safe. Come firth. then. men oil
The South, and save the highest interests
ofyour country from the ruthless aud ma
levOlenl blighI which threatens to bias.
them. Meet on the 22d of October al
Macon, and rescue from annihilalion the
most important branch Of your industry
With ~hich God has blessed our highly
favored country.
A COTTON PLANTER.
p. ). The papers South Of the Poto-
mac wtll please publish the above.