The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-02-21
MOBILE, FEB. 10, 1912
MOBILE, FEB. 10, 1912.
Cotton and Trade in Mobile Banks-- 1heatricals-
Temperance A6jugations.
JAMES GoRDoN BENNETT, ESQ.

temperance dcJuSdltOnS'
JAMES GORDON BENEFIT ESQ.
| DEAR SIR -
| In perusing your paper of the 3lst January, my
attention was attracted by letter from Of your
| correspondents, that contains more blunders and
more palpab!e absurdities than l had supposed
could have been put together iu the same number
Of words Without stopping to enquire whether
"money" itself, or the " love of it," the root Of
all evil, will endeavor to set yeur CORE pondent
right upon several matters, of which he displays
most lasdable ignorance.
In the first place. then, the receipts of cotton this
year have not far exceeded those Of last, and whcth
er the dem and has been better or not, can easily
be determined from the fact that the stock ON hand
now is less by 5000 bales than at the same period
| last year.
'..One cause Of cotton keeping up so (NIr. J.
tolls us) is the enormou, rates at which exchange
| is ruling on all points" Granted but when,
within the last twelve months has J. F. or any one
else, known exchange New York to rule as high
as 2Oper cent-or.4O day bills, as he calls them, to
| be IL or Is per cent-never. The highest point at
which checks have been sold since the lst July,
1884, is IL per cent. and even then this ruinous
rate lasted but day.
Mr.. J. F. further tells us, that the high rate Of
y
merchants not meeting their labilities" There is
reputation" for you, with a vengeance, there is
a pretty system TO commence upon. What be-
cause made miscslculation, because have not
received enough for my goods, are you from whom
purchased these goods to suffer Z l. mans pro-
mise nothing-is his credit nothing that either
be laid aside At convenience, perchance with the
1msy excuse, that exchange is ruling high as
20 per cent. No, sir there are few, very few
ST. 'I'e'' mere processing the peculiar doctrines
The idea Of your banks suspending to save ours,
is really too ladicrous 10 pass by without having
good hearty laugh. II 10 an idea worthy the pro-
life imagination from which il emanated; and its
originator will certainly, at some failure day, be-
come the Secretary Of the Treasury, always pro-
videS. that he does not in the antime himself
up in his efforts to your banks 10 suspend, or
rather to "puli at the same end Of The rope"
"The fact Of their suspendng, so as TO relieve |
the South and West won't injurc their standing |
as Mr. Bawkins used to observe-no in the least |
with persons holding the same opinions asJ f.
am very sorry that your correspondent " for |
one, would prefer tie suspsssion Of your banks,
his hearts much upon an object that migAt so ca
silly be accomplished, if few would only deviate |
very little from the strict course of honor and |
integrity. Why, look at 1.-THE request il modest,
II can make but little difference. Let your
banks refuse to pay specie; that puts us par
with you've won't have to pay 20 per cent for /
exchange! Nlstrue You Will Tor what goods you
import, but that is no matter. Ysur citizens may
grumble and become camorous, but that is nothing.
Your banks may be in a perfectly sound and |
healthy condition, bat what Of that will not we be
benefited thereby
Mr.. J. F. is right in saying that yosr monetary
articles are looked to with great deal Of conf
dence; but am quite sure thew would not be so il |
he had the COMP alton of them
There appears to be very little doing here in tho
business way, although the transactions in cotton
have been very extensive for . few days past, and
At rather better prices.
In the gay world there is bat little going that
would prove interesting. large ball " came of" |
last night and, usual il was attended by all the
fair ones Of our city could mention &c vera but