New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1857-10-29
RATHrsR SINGULAR DOCTRINE

The CarTolltOn tMiss1 yemocfat, " .ne 1ou iis'.,
after specializing upon The Cotton News I latest
receved in that section Of country from New Orleans
and Liverpool and advising the people to retain their
cotton at home or ship il only under peremptory
orders relative TO the price at which it may be sold,
concludes 4 somewhat lengthy article in this wise
Afew days Of observation and deliberaton will in.
jue no one and 1t may be of incalcuable beneht TO
he whole community. We believe that our commits
sion merchants are as honest class as any other
orton Of the community; yet there are some OF them
that will not do to tie to in a storm. The mer-
chants that do business for this portion OF the State
have not as yet as we informed, put their cotton
on the market or submitted to the decline. In fact
as yet they have received but little cotton But so It
is others have been frightened or necesstated IRON
their proprety and brought calamity upon the coun-
try 1t would be far better for all parties interested
that the whole corps of commission merchants should
suspend, than to continue business at the present
rninous rates Of sale; and there is no principle Of
continne payments any longer than it can be done
consistent with his obligations to his patrons No
one will be hardy enough to say that the planter is
now protected by his merchant. II suspension
would enable the merchant to bring cotton up at
once, las we believe it would) and finally and in
short time discharge all their liabilities, there can be
no objection to it, and We can see much good to result
from such course.
That aour commission merchants are as honest as
class as any other portion Of the community here
elsewhere there is not the slightest particle of
doubt, The man would be voted a fool, knave, or
common sanderer, of just, intelligent and able
body of citizens who would venture to assert the con-
trary. That there may be bad persons among them
we shall not dispute, but until the perfect man is
found TO throw the first stone, their fidelity as mer
chants their integrity men, or their skill and ability
as factors OF the main staples of the Southwest,
should not be questioned either by direction or ind
rection-by inuendo or implication They have stood
| what no other body Of merchants on earth could
stand, and have maintained their commercial faith
unimpaired under circumstances that would have
bankrupted any similar community in any city on the
surface Of the globe To do this they have made ire
mendous sacriices-are making tremendous sacrifices
OF their own hardearned means-and we hope and
believe they will yet emerge from the struggle it not
unscathed with regulations the purer and ofter from
the trying ordeal to which they have been subjected.
not on account Of any fault or mismanagement Of
their own, not because they were not Enthusiastically
and solidy solvent, but because Of the faults, mis-
arrangements and nsolvencies Of the North East and
West, which human ken was unable to foresee and
uninspired foresight unable to provide against.
The Carrollton Democrat gives fatal advice-adyice
at war with every principle of common honesty and
fair dealing between man and man-when it counsels
that it would be better that the whole corps OF COM
mission merchants should suspend than to continue
business at the present ruinous rates of sale and
there is no principle of honesty or morality that re-
quirers the merchant to continue payments any longer
than it can be done consistent with his obligations
his patrons.n
Softly Mr.. Democrat, your advice is as bad as your
premises and conclusions are illfounded. You speak
Of the planting patrons of the merchant. One
word in your ear and we speak by the card: If the
cotton planters Of Mississippi Tennessee Arkansas,
Louisiana and Texas, would pay this day, the factors
and commission merchants Of New Orleans fifty per
cent.-just oneha!f-what they owe them for cash
advanced plantation supplies furnished, and accept
ances made for the planters benefit, now maturing
the aforesaid factors and commission merchants would
be the happiest and most solvent set of fellows on the
continenti All their troubles would at once vanish.
and they would be in position to hold the cotton of
their constituents until prices appreciated sufficiently
to warrant sales The past and present that
has been and is operating SO heavily upon them, as