The independent press. (Abbeville C.H., S.C.) 1853-1860, 1855-03-16
FOR THE ISDErENpENT PRESS.
The Credit System.

The Credit System.
.Sirs: The evils of the credit system in
this country are beginning seriously to man
itcst themselves in the development Of the
vast extreme to which overtrading has been
carried. The vivid impcrsonation Of wolves
and hvcnaS, i'll all the wild terocty of their
brutal nature, can ba seen at any collection
at the public places her" and no earthly
allowance seems to be made for the s..arc:i,v
Of money, no matter what may be the IL
vailih;lity in all other respects. The wall
is money! No other sound dis,urbS the
stiffness, no other echo hangs upon the
breeze, but the distrac!iny CRY for money
The scarcity Of MONEY is the all-cuero~Sing
topic. Everybody is talking, with some
prctcnsions to eIoJurncc. about the tendency
of things, Of the distrc>Sful consequences of
present Indications. No body seems to
! know what can be done to avert the i'm
pending hurricane. A sluaid gloom seems
hung upon the face Of every one except the
nabobs Of the country, and ihc general ap-
pcarances do rcalI Iy Indicate cause for alarm
ing apprchensions.
Well, what is to be done? Has every
farmer sold bis cotton? | should rather
ask, has ony farmer sold2 What man is
that who don't know that the money for
which his cotton sells, turned loose into
circulation, does something to remedy the
evils Of the times? Sell your cotton, far
mers, and let the country have the benefits
Of the money. One hundred dollars will,
i'll the rounds, cxtinguish Il hundred thou
sand dollars of debt. Don't hold your cot
ton for better prices, when there is no such
prospect, until property tumLIes down to no.
thing and it will require both Your cotton
and property to pay what you owe.
If every man wouM sell his crop, don't
care at what price, and pay as far as it will
60: TO all his creditors, AMI make bold
rush III preparations for another crop, in
stead OF holding on to it, with the nonscnsi-
cal view to better prices, the times would
certaiuly improve. No creditor, except he
diets Oh flesh, woull refuse to indulge you
for another year, should you fall little
short. And in the event Of your having to
sell property, there would he something to
buy it with in the country. l must repeat
that the great scarcity Of money is to be
accounted for in the fact that no cotton has
been sold here, and were property exposed
to sale at the present moment, it could
bring nothing at all comparatively. Itis
now ascertained,to a@seren pence, that there
is but two thousand dollars in Elhert coun
ty, and that has no earthly inclination tc
rcircu!atc. We'll, if wanted to buy prop
crty for music-atsa song-I would urge i
on the people to hold on to their cotton, un
til the capture ofSevastopol, when, as PuScI
says, we will be favored with the recipe 70
taking Grease out Of maps. l would ring
the changes on the glorious prospects of
bcatific mutation in the character Of tn
times, an epoch of such stupcndous magni
tudo that the richest scenes Californian vii
be laid in the shade. But, my friends,
my conjectures are worth anything to you
| must force it on your reflections that
twill be just two hundred years, to day
before you will perceive the end of tn
tpresent Eastern scramble. .-.
Well, now, if the country 60, to ruin, it
nottny fault They have been fairly warnet
1 But isdulging;.h hope that my very MOD
& Fest ssticle MAY address itself to the goo
ss'nse Of q gosdly ssunbet Of ! 81 sIloS
;zv1s. ussst sst is;fs 49, s.s,.t :.