Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-06-14

9,a'es' i,erpo,. thronsh their agent 10 Ne" io'A,
s Wilder Eq. The rc"a1 app aea !" an,hsnI,
aner no name being attached TO IT. ana us au.nen
;,n was >, first very generally discreditrd out e"qu |
RE, OF Mr. wdrr to have satisfied me ne, he !.
holders in New I.rk that is genuine QUO 10 ~
prepared to make the advances when Tue ~. c,p !,
Pr: Ia ,na,,anc. Al This time. and the form J"
which il is put forth have excited consioereoe
ton as 10 who is really nj The bottom u ~" 1"'''
as TO the utility Of the plan. !, |
is generally predicted be the work OF the u BANK
,bonoh some assert that The Bank has nothing 10 40 WIN
Il either as promoters sustaners OF the sPecua.nn
O,inion is divided also to hs advantages or osao'ah
,s,ss which are likely result from the measure ihee
can be little doubt but that temporary dement's WI" accne
20 the holders Of cotton and The advances were fea
N come from the other side oil the Auanic tue fHec'
mo, The monetary affairs Of the country might be favor
able in furnishing amount oi bills OF Exchange ana
preventing the expectation OF specie bnt II, as seems
10 be the general belief the u 1ank mas agar" s'ep
ned aside from its legitimate business and entered tne
6d of soeculaon there be no question out mat tne
evils of such monopoly will be greater than any oene
fits which can result from temporary htmness wnlcn
NAV be given TO the prices vi cotton MAJ 'he =:
Bank is actually engaged in the speculation does not az
mi, Of doubt The circular, ITSELF plainly innsies It
"Ihe consipnmen,s are to go forward 10 Humphreys
T. Bddle who sustained by odequuse means OK oo s;ae
OF e ,cq,.r will able TO hold on, until prices reo'
rousiu ratu" And again: "ihe large stock 0! co Ton
which Messrs Humphreys q Biddr; 10 case .ae sn'p.
men,s are made 10 them, would hold, would prooahy
induce
them, 10 enter the marker IN Tue Cin'su S'ee' '' "
the autumn, &C. ;, ,;,o r
feet Of the meas may be TO relieve The mercaht'e
community, yet the ultimate consequence WIZ oe 70
throw The whole cotton business Of the country into Inc
hands OF the rea Protector the United STATES bu"k'
If merchants are prepared TO sacrifice loe
for present relief, be II So Humphreys nuS
will realize fortune drawn from their legitimate Proh's
and the Bank Of the United States will become The DIG
tatnr of he South. 80, ;b,
The amount proposed to be advanced IS al essl ets
ni;ons Of dollars and the intention 70 en'et me mar
,. ~ ,hs GJn;,ed States early in The Autumn oy nd.
1enens on The frs, quarter OF the crop, is without
limit Bali. Post. !, y ..;o,, or Ss
TSe annexed Circular was 10 such general clrcua'
,on Yesterday in Wall street, that a'hougn ma'Aeu p''
yae-we feel entirely at liberty 10 place i ~ our I
-. The immediate effect Of its issue was 10 relax
on,r,c,ed brogs o cotton holders and TO create an
immersion that relief would ensue TO tue money mar
ke AS it bears signature, we took pains 70 sa'lsy
ourselves that Mr. v s Wilder su'noiheu ' Hf
nrenar.d 10 make the advances which promises VI
The noicv in large view, or OF The hlness' OF thls
me.snre ON The part of The United States bank-whicn,
sepms not 10 be doubtful is again 10 play Inc par %
"the Great Protector 1t is not go" ou' purpose =
speak" S,,rd.r op NJ
says ,ho. &c., On
,h,, article than 10 stay further decline. Shippers VINO
vcrp having little before have Withdrawn, Money
s,cks are sha de better Our merchants are very much
divided in opinion about The proPriety ano u,'y o. s
r;rcuIar The holders Of cotton IN general Ike IT,
The New York Express OF Saturday evening sayf'-
Thpre are various opinions es 10 the advantages ana
disadvantages Of measure OF this SORT and mere ~
much to be said for and against We are not e aoSo'
cafe, of Back monopoly, as oar course In RELATION 70
them has often been made manifest.
The New York correspondent Of the National lnteii''
Rencer says cn n.
Ia, y
ia The great topic Of talk to-day. The money matk9
feels sensbly relieved The cotton holders are as haPpy
=. kings The stocks are tiekled that they hardy
know where 10 stand but they have all Jumped up ana
the Monster (Which jumps has taken strike OF
one per cent The fact is, the monsters OF John bull
and Brother Jonathan about 10 have little heht
and the stocks have no doubt that bfothet 'oha"an
monster will carry the day
Nsw York, June 6, 1889
W, have doubtless received the very unfavorable ad.
y,c.s H., The Great Western in relation TO the Cotton
market The advices it apprehended, do not disclose
even the full the dangerous situation IN ~hch
our great staple is placed
The diminished demand Tor yarns and, cotton goods
Tho Continent, the short harvto, of The last year; the
shipmen, Of bullion from Great Ba'a,n ano consequent
rise IN .he rate OF interest oy Inc oahk o. Engna,
must all ine-aby tend TO greater AND more acceiefa
ed decline IN p's"ps, If some steps are mol promptly
adopted 10 prevent The remaining STOCK OF cotton now
in The country from being offered for Immediate sale IN
the European market.
ifthe consumption Of raw cotton in England had only
diminished ~ 10 per cent, still consequence
OF the now clearly ascertaned deficiency in the last
years crop (Which has fallen low as The i..". -
mate past prices would not only have '-e" ~ :" ..e
shippers, but profitable, and hence ' "yi.,;"n h;nh
ious 10 The charge Of
go often deprives the spl-,tp' ' '
OF all Just claims 10 s.snpamy' :.
Ths s,r,n,dip.,y falling off in the consumption OF
,be raw ma,e,al. is, perhaps, not little aided by de-
Terminated on The part OF The English sp,nns, ma
the re,due OF the at his own price, unorr oee'
,h, az the great and t.nacnus holder o the asi year
out Of the market, there exists no serious ollhcoy III
bis way BY working short hours Tor lew Weeks 10 nc
connlish This desirable end. II becomes necessary
therefore 10 supply the absence of that great protector
By some cooperation among individual interests
Me- j, is quite obvious that but one OF Two modes
would be Gkely to couneract the result that must other
wise inc vaby flow from the causes just Indicated
The first would be organise, through The AID OF The
Bank ct he 8, aud the banks in The principal empo
RUNS of the different States, combination sufficiently
powerful advance sum on every bag "t cotton on
This side OF the water, which would ensure It's being KEPT
in this country for three months
The MIR, sche would be r one house
in Liverpool the whole or the greater par OF 'le col
ton now 10 90 forward BY arrangement for uniaiing
ADEQUATE and collateral aids sufficiently potceut 10 ens
BILE The house in question TO hold over, until grea'eI
of the present stock of cotton in England is worked
of at advanced price; result which inc success'u
execution Of this plan would inevitably secure
The fret scheme, however, is liable notwithstanding
ito direct and immediate power 10 produce the desired
result) 10 the conclusive objection OF arresig all ou
foreign exchange operations which might hazard the
ability of our banks in the Atlantic States, to
continue specie payments, whilst the last pr5.ct would
be entirely free from this objection as il would at once
augmen, the current Of exchanges and enable us u
weather the crisis, which The first plan would be but
too apt 10 produce. These views the result Of
conference which yesterday held with one of the
most naue nlia and intelligent merchants of Philade
pha in conjunction with commercial gentlemen Of equal
il high standing from other portions ot.the Union.
|, is therefore announced TO you on The best aoihor
w. tina, an arrangement, has been made, by which an
advance Of THEE our,hs ION what may DC estimated as
br presen, ake, value of cotton say ID cent) will be
made on ersru tals in this country, at oil principal
shipping ports all holders they desire to avail them
selves Of this advantage. The consgnmens are TO 60
bo cd hy