Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1839-10-11
VERMONT PmGNIx
Friday Morning, octoher Il, 1890.
THE SOUTHERN MONOPOLY.

circular was issued, proposing a magniiicen
operation to secure the cotton crop from fur
'her depreciation in price, by means ofa combi
nation OF banks, capitalists and planters, who
were TO hold on TO the article, until buyer:
would be compelled to give them their price
This was so worded that it was supposed tina,
the United States Bank was al the bottom Of
the scheme. This, however, was not the case,
and was promptly denied by the organs Of the
bank. Mr. S. v. s. Wilder, we believe, was
some way concerned in the scheme, but Gen,
Hamilton Of South Carolina, was at the bot
tom Of il. More'recenty circular has been
issued by few distinguished southcrners, who
happened to meet in New York, among which
we notice the names Of Gen. Hamilton, and
Gov. McDufie, of South Carolina. :
After setting forth, at length, the importance
of the cotton trade, and giving view Of their
plans, they say, Ito accomplish this object we
hereby invite the planters, factors and cotton
merchants in each district or county in the
southern states & Territory ofFlorida, togeth-
or with each Of the banks, in each Of the said
states and territory, to send delegates 10 meet
us in convention, a, Macon Georgia, on the
fourth Tuesday of October, which will be the
22d day Of this month, that we may carefully
consider the important matters disclosed in
this circular" And they add further 1--WE
invite a candid examination of this whole
scheme, for the protection, no, alone Of south
crn interests, but for the security of the COM
mcrce Of the whole country"
We now see these men, who have been
loud, and ever clamorous in their Remuneration
against protection inviting the whole cotton
growing territory 10 unite in measure of pro-
lection. Yes, these very men who have so long
cried Stree trade"-"supply and demand" are
calling upon the country TO protect the cotton
planter. And to carry out their scheme, these
.hunopolists, who have affected TO shud-
der with horror, at the very name Of monopoly,
propose grand monopoly, Of southern banks,
planters, and all, interested in the growing of
cotton. When the first circular came out, and
while it was supposed TO have originated with
the bank, the Charleston Mercury, which has
professedly Teen very Democratic in its no
lions, since Calhoun became prompt leader in
the ranks of the administration, ridiculed
the idea Of resisting the laws Of trade. But
since the second circular came out, with the
names of distinguished southern politicians at
tached, the Mercury has changed its tone al
together, and declares it cannot oppose meas
ure sanctioned by such names. The ssGoben
will now probably stop its ratings about the
''plan of the Bank, and federal organs" and
say, with the Mercury, it "cannot oppose
plan sanctioned by such names"
A correspondent of the Boston Atlas, speak
ing upon this subject says:-"It proposes the
most stupendous monopoly, that this, or per.
haps any other country has ever witnessed II
proposes by an association Of the entire body of
planters, toregulate the price of cotton as they
please, and to maintain il where they please
This is stupendous and bold proposition, to
come from quarter where the tone Of denun-
citation against supposed monopolies has been
violent and even mingled with reasonable
threats and practices.n = +"The banks, the
little monsters, are invited to cooperate with
this leviathan association, & furnish the funds,
necessary, on credit, TO enable the owners of
cotton, planters and merchants, to hold il until
they can sell at their own terms. Thus il is a
triple alliance Of the planters, the merchants,
and the banks ia monopoly--an aris,ocracy
OF therich and the powerful, with vengeance;
for the poor man with few bales will have
neither part nor lot in the matter. The plan
tiers, for the most part, own the bank stock
They have called the succession of "commer-
cial conventions" as they are denominated.
which have been held during the last year or
two and have invoked their own class to in
vest their capital in commercial business. Il
Is plan, therefore, for the rich planters to de-
your the poor, and TO prey upon every humble
indiridual on the face of the earth, who wears
SKIRT or pair ofpants made of southern cotton. y
The banks are TO become the corner stone of
this structure. Houses are TO be established in
Europe, TO make sales. An agent, SO says the
circular, Is soon going forward to Europe to
make the necessary arrangements. And this
unwIeldiy, selfish concern, is to regulate the
e.rchdnges.' The affiliated banks are TO throw
intothe market, or retain as they choose, from
s'rfy to serenfy.fre millions worth OF cotton
yearly What will our professed Anti Mon
opolsts OF the north, who have so loudly yoeif.
Grated against the United States Bank, with
capital of thirty-fve millions, think of this
grand monopoly, with sixty MILLIONS income?
And the very men at the south, who have af-
fecsed to tfemble with fear, at the danger to be
apprehended from the bank, are now urging
on this scheme. The whole Southern soj,l;stonf