Lexington union. (Lexington, Miss.) 1838-18??, 1841-06-12

Dut sne mas 6Wlnoieu ana ToDOeu our HOH'
est planters in every conceivable mode.
One Of her Villanous transactions was
brought TO our notice yesterday, by an
honest planter in neighboring county,
whom she has swndled out Of $4,000
and upwards, and refused TO settle with
him for the last twelve months, unless he
would let her swinde him out Of four per
cent Foreign Exchange.
In June 1910, they had received ac-
count sales Of his cotton shipped in 1880,
and they refused to give him any thing
for the foreign exchange but s per cent,
and 3 for the domestic exchange. The
planter knew III at the exchange Oh Eng
land in 1899, was sold from IL TO IA per
cent, and refused to settle unless the full
exchange was allowed him,--telling them
that he would have nothing but a legal
receip, if they did not allow him the full
foreign exchange. They found that he
understood his business and did not sue
him. On Saturday last he visited Jack
son and found the officers of the Bank
very willing to settle with him and allow
him II per cent for his foI reign exchange,
admitting at The same time that they had
settled with others at the same rates,
though he showed US Grayson's letter
stating that they had allowed others only
| ) per cent ard they would not allow him
more! 1t appears that every one who
could be imposed on, have been swindled
out OF A per cent Of their foreign exchange,
while those who understood their rights
were allowed II I!
We wish now to address ourselves TO
all the planters who have given cotton to
banks and taken advances on cotton. The
banks, the factors and financiers, have
been swlnding them in every conceivable
manner, and we wish TO aid the honest
planters in arresting this vile system.
The banks have charges against the. pIan>
tiers for the amount of cotton, notes which
the planters ought 10 pay in the paper of
the banks; and the planters have charges
against the banks for the price o! their
cotton in Liverpool or New Orleans which
with the exchange the bank 10 bound TO
pay in curent funds. BY pressing every
case OF this kind TO the rIgor Of the law,
the planter can receive from the bank the
difference between the value Of its paper
and the sterling or New Orleans funds
for which his cotton sold. A case Of this
description occurred short time ago in
neighboripg county. The bank that
had advanced on cotton, sued one of its
customers for the balance, and he defend
ed the suit. The bank produced what
purporied to be an account sales of his
cotton in Liverpool which showed a ball
ance equal TO the amount sued for; but the
bank was unable to prove that this was
the exact account sales Of the planters
cotton, while the planter proved the value
OF his cotton both IN Liverpool and New
Orleans market at the time it was put in
the hands Of the bank. TIE Jury very
properly gave judgment in favor Of the
planter, by which the bank instead of
getting a balance, had to fork over TO the
Fplanter a large amount.
In the case TO which we alluded as
having come under our notice yesterday
from the Union Bank, the planter was
allowed 4 per cent more than Grayson
would allow last year, but still he settled
and paid balance claimed by the bank
of 1000 dollars in its own paper; whereas
had he gone to law and had the decision
Of an honest jury, he would have recover
ed in good money from the bank IS, 65O23,
the balance being sufficient to buy up I'm
ion money enough 10 settle his cotton note!
We hope that all those planters who
have received advances on cotton notes
from the swindling and insolvent banks
Of this state, will take warning and put an
end to this wholesale bank robbery. Let
them compel the banks 10 press the
cases to judgment, and 10 every in.
staRce they will recover the full value of
their cotton in good funds, having to pay
the bank only its own money or it's equiv
alent at the time Of settlement.
We intend on another occasion 10 give
detailed history Of the swindIing system,
adopted by the bank agents in Liverpool
in 1888 and 1889, for the sale of the plan.
tiers cotton. They imported the list sys-
tenn from New Orleans, aud sold whole
cargoes in list, by which the planters
were Utterly robbed. This will be an i'm
portant piece Of information in relation to
the banking and cotton system ofrobbery.
Vicksburg Sentinel.
Sach are the enormities of the robbery
to which our planters have been subjected
by the swindIing list merchants Of New
Orleans, that the determination to sell
cotton at home or in the river towns has
become quite general. We have no
doubt that the planters will profit by
domestic ma Ykat instead rs oioo:.. It,: