New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-11-20

~ misunderstanding the general disturbed state OF
the country, since December last our community
has reduced IFS indebtedness to the banks direct
+ over 300, and how much outside, it is rather
4 alf1culf 70 arrive at but We may safely say s25;
0c9, 900 ~ will be observed that the planting in
ferest, particularly cotton, can with propriety
i come before onr Legislature--to assemble next
with the strongest claims for assistance and
relief through our backing Institutions "a wise
and sound policy points out that the great cotton
INTEREST," should as far practicable, be independ
ont OF the Confederate Government. Above all
\ things, let not the Treasury Department Of the
Confederate States be converted into factors,
0aice, or A general loan office. y
There were no movements in exchange to-day.
The banks are buying and selling on Richmond
and other Southern cities SO are two or three OF
our prominent exchange dealers.
We append below an extract from All ably writ
ten article, published in the American Patriot at
Clinton, Ia. It will be perceived that it was
brought forth shortly after tho publication OF the
cotton factors circular, recommending a totalsus
pension of forwarding cotton to the city for the
time being. Giving, as it does, a country view Of
< the question, though without disparaging the posi-
ton assumed Or taken by the factors it connends
itself 70 our readers. 1t is manifest that the great
question Of blockade the total abnegation Of ex-
Ports Of cotton7-is taking different cenrse from
what was anticipated at the time Of the issuance
of the factors circular.
GoTToG "A CogNTRY YIEW. The powerful ella
ent of our national wealth has attracted To itself,
since the war began, an unusual degree of atten.
4 non both at home and abroad and the interest in
tne solution OF the problem, how are we to dis.
pose q she crop seems 10 increase as the period
an Nav l
own aovernmen tsays peremptorily and very pro.
perry too that 1t shall not Be lawful to EXPORT
o. eotton yarn from the Confederate States,
easeps lhrough the sea ports Of these Staes,' and
sn.ofees we Jaw by y threat Of confiscation Lin
COIN mas closed the ports by Blockade, which
may or may not be respected by our Eufopean
custoAlefs Lastly the respectable and Influential
gony q eouon factors n New Orleans have placed
g Qtst.ss embargo upon it's shipment. by notifying
the not to snip until the blockade Il raised
and he insurance Offices have manifested their
4 eonearrenee AZ the embargo by simuitaueouslv
Ru,pshing inelr refusal TO take any river or FIRE
flsLs upon shipments Of cotton. Connecting To
factors and Insurers lofty, sell. denyipg patriosm
i n having recommen dea a policy so pajnahju IN
conflict with their interest-concedn ing Ia IN, mel
hgent Of the 9tricacies of the laws of
trade, oniyto be acquired by long and arduors de-
votion to the pursuits Of commerce, we venture, in
titis Instance, respectfully ", aud with hecominp
dltsidence tosquestion, both the propfety and the
wisdom of their recommendation, The arraien,
entupen the first count OF the indictment shall
be brief consisting of but two specifications:
L It Is eninentiy proper that the skillful and
trusted body of factors and insurers should seek,
hy The climate exercise Of their admitted knswlr
edge OF the laws of trade 10 give commercial direc-
tion 70 production. Its political control should
only be assumed by the Government supun grave
emergency aseertained and declared through its
recognized authorities. Il S
wfeSted from The hands of the producer every yes.
tige of discretion ia the DISPOSAL of i3i4 oPof, a