Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1861-10-09
The STANDARD.
For the standard
The War Debt Pafd-The Planters Relieved
And the south supplied with Gold and Silver.

give place IN your columns 20 the following susse0
tions -:
The suggestion which now propose to make is
in regard to the Cotton Policy Of the Confederate
States The plan adopted by the Confederate gov
eminent in regard to that staplc-the great SneW OF
the South--is in my humble opinion defective, ana
will not accomplish the purpose for which 1t was IN
augurated, except perhaps, 1t may Lead 70 more
this plan is to bring to the aid of the Confederate
States during its present struggle this great sinew
of strength | think this can be done and done most
etfsctually
But some reader may say, before you propose
new system plan, let US hear your ohJectlons 70
the present one? will give them briefly, VIZ: by
the present plan it is proposed that the farmer sen
the cotton he subscrbes and iaEest the proceeds III
Confederate bonds, bearing interest at per cent
Now maintain that the farmer cannot do so, at lar
and remuneratlng prices during the blockade; LOT
he will be necessarily compee to sell at some price
portion of his crop to enable him to pay MS taxes
and other necessary expences. In other WORDS, tie
planter must SELL and cannot afford to hold on TO MS
crop. In the next place, can he sell his cotton 10
average than eight cents per pound so long as
the blockade is kept up? l think it must be aPpa-
rent to all that he cannot Into whose hands does
the cotton fall at a sacrifice to the producer into
the hands of spectators and capitalists, who can
afford hold it until this blockade opened These
spectators and capitalists having possessed them
selves of the strength of the South by mono9oizing
the cotton crop, will exercise more influence upon
manufacturing nations than the government ltsel.
Another objection is that attempt to disguise 1t as
we may, there are men, not patriots, among US VINO
know not how to make sacrifices in advancing so
righteous cause as the South is now engaged IN,
but will follow the almighty dollar. Such men Will
whenever opportunity presents itself lets slip their
cotton to the SPECTATORS to New England, Great
Britain France, supplying them to Some extent
with cotton without which they cannot exist, and
IN Tnip thairH ncIrp
selfinterest if not from sense of right to break
down the Lincoln blockade. We read of instances
almost every day of attempts being made to get
cargoes of cotton and tobacco to the North Ano-
Their great objection is the high rate of interest on
the Confederate bonds. As it may be some time
before they are redeemed, the amount of interest
that would accrue would be enormous BY dividing
the farmers crop it would deprive the government
of the power of controlling the market. And the
last objection shall name is, that although patriots
would not hesitate to invest in those bonds, yet 1t
is probable that cold hearted capitalists will do
Now, Mr.. Editor, having stated my objections IN
candid manner, to the present cotton policy which
may also apply to Tobacco &C., as it now exists,
will suggest plan which think will accomplish
the object sought to be obtained much better. do
not set it forth expecting 1T to be free from Obec
tons, or unexceptIonable in detail, but with the
hope that it may be considered and the objections to
pointed out that some other plan, which would
For in times like these we should not only give to
our country our strength and money, but also
such ideas as we may think calculated to promote
the best interests of the great Southern cause Nor
should we be deferred from so doing through fear
of the critics eye
My plan or the plan which would respectfully
suggest is this: The cotton crop, as well as To-
bacco &c of the Confederate States say at 10 cents
per pound for cotton, is estimated to be worth two
hundred millions of dollars. Let the government
become the purchaser of the whole crop at 10 cents
per pound which is as much if not more than can
now be realized by the grower in consequence Of
our being cut off from the markets. and it is besides
fair remunerating price to the producer. Much
better than the grain grower get and in fact is
over an average price ut which the whole cotton
crop of the South has been sold for several years
past Let the government pay for the cotton in
Treasury notes drawing no interest. Let those
notes be Of the denomination of fifty dollars and up
wards. This would give Us good circulating cur
rcncy, which would be upon i sounder basis than
bunk notes. For the banks permitted to issue
their notes two and three dollars for every dollar of
specie in their vaults These Treasury notes would
be issued upon the basis of dollar for dollar yes
for every dollar of Treasury notes. the government
would have to secure the payment thereof, its in
GInsc value in cotton. The government could hold
tlis cotton as long as it thought proper, for the
Treasury notes would not draw interest; it could
force the price to twenty cents per pound for cot
III Is now selling for twenty-five cents in New York
Why is this? for the simple that unless they
get 1t at some price, their manufactures will be stop
ied--a large portion of the New England popula-
lion thrown out Of employment, and her dense pop
ulation be without food and clothing. She manu-
features only eight hundred thousand bales in twelve
months. What will Eng land do who manufactures
over three millions Of bales annually? What will
France do? | do not propose monopoly of the
cotton by the government settled policy, but
ply xlGl.. ~
time when | think it should be DONE If the crop
Of cotton is worth two hundred millions of dollars
Mt ten cents per pound, and the government could
hold it and force it to twenty cents that price would
secure four hundred Millions nett profit of two
hundred millions of dollars with which to paw the
expenses Of the war; and which, if not made by the
government would be made by spectators and CAP
itasts. The government when it did SELL could sell
the cotton for gold or its equivalent and thus every
dollar of her Treasury notes be redeemed with spe-
Gle. Bankers and capitalists, knowing that these
notes would be paid in specie soon as the cotton
was sold, would be anxious to obtain them and
that would give confidence to the whole system and
there would not be felt the want of good circulat-
ing medium.
But again: Perhaps some would say that ten cts
per pound is not enough to pay the farmer for his
cotton, and the government must not force him to
take less than heasks for his property. In answer
to that would say, as have already before stated
think ten cents per pound already higher by two
cents, chan could be obtained, or at any time
before the blockade is opened realized by the pro
ducers. But Shonld it be thought that ten cents
per pound is not high enough then let the price be
twelve cents per pound, whatever price it may be
thought to be worth. Even at twelve cents under
the system proposed, it would yield profit to the
government Of over one hundred and fifty millions
of dollars Again, it might be asked, how we are
to prevent those, men, if any there are who love
money better than their country, from running the
blockade and thereby getting large price for their
cotton? would say, by putting heauy erport
duty on. all cotton shipped by individuals.
Mr.. Editer, ever since the existence of the pres
ent blockade we of the South have been talking of
the probability Of France and England breaking it
I'D At one time, We daily expected to hear that
they had done so-but now it has been at least par
TALLY existing for months, and no attempt has yet
been made by either of these powers to resist it
Nor Mr. Ed;to- uho,,ld erer he done hr n;thor