The south-western. [volume] (Shreveport, La.) 1852-1870, 1861-08-07
CoLuMpul. GEORGIA, June. %, 1851


CoLuMBU GEORGIA, June, %, 1861.
c. G. MEMNINGER, secretary Treasury: Sir-Having
been appointed in conjunction with other gentlemen OF
this CITY, solicit Investment Of cotton by planters
in Confederate bonds, thrust shall be pardoned for
obtruding your valuable tme-acting on the old
proverb lin the multitude of counsels there is safety
For years have watched and noted the workings of
the cotton trade in foreign markets. and the effect
prices in ports increasing or diminishing according
to the quantity Of the material shipped, and the
demand for cotton goods. am fully satisfied that the
plan of the proposed loan conceived by the pures
patriotism, and willing cheerfuly responded to by
brave and magnauimous people, and yet the desired
object may tend to be accomplished tor reasons which
now propose to suggest.
In accordance with the accredited opinions Of legal
minds what constitutes treason, giving aid and
comfort to the enemy in time of war; by either buying
from selling them, lose customer who has here
tofore competed with Liverpool for portion of our
cotton crop and thereby keptup prices. Now really
have cut bidder and must reasonably look for low
prices, unless something be done to counerac the pres
ent policy
The idea of getting hold of the growing crop at low
has already been mooted Manchester and the only
way prevent for the Confederate States to buy
stpulative price for middEngs, the entire crop. Mr.
Russell in his letter from Montgomery to the London
Times, significantly says, when Manchester can get
cotton and Lowell cannot there is good time coming
for mill owners H. G. in Manchester) All past expert
cnce has shown that when heavy shipments have been
made to Liverpool prices have invariably receded, be-
spinners keep posted the stock hand and
only 90 into the market their wants demand. Now
if large shipments to Liverpool not responded to by
corresponding shipments OF goods or demand on this
side for sterling bills pay debts already created the
bank OF England when she begins to lose her gold in
variaby raise the rates OF interest," kills of speculation
and keeps down the price of cotton The large crops
Of 1888 and 1853 shipments to Liverpool very
heavy and ii notorious fact that the crop of cotton
It'd cold
shippers and in many instances less price than it
cost in ports. Now, if Liverpool did not have sto
rage tor portion Of the crop OF 58 and SO, and
her market glutted by shipments then made, how
expect fair price for ourcoton when the whole
crop is forwarded there2
Besides this | apprehend that effort will be made
by England buy cotton crop during the existence
Of the blockade and then, necesstate rel raise the
blockade to get out her purchases To prevent this
and keep northern manufacturers from getting any of
our cotton should command your attention and that of
the next congress If the Confederate States hold the
entire cotton crop they dispose of it in such guam
titles and to such powers as might to them adVis
able and at such prices would pav cost if not hand
some profit. By this policy government being the
only holder would say England, you can have our
cotton at our price, refusing our enemies any portion
Of the crop and thereby supplying Them while it would
add strength and dignity to own government, and
give it moral power and pecunary impc rance, would
command the admiration and respect of the ciyiiised
world.
On the other hand if the Confederate States do not
control the entire CROP and it goes to Europe yankee
manufacturers buy and import it in British bottoms
at less cost than they have heretofore direct from US
As proof Of this will give you single instance which
occurred recently A British ship cleared from New
Orleans April 7th with 800 bales cotton for Queens
town; she arrived the latter port May 2ls where her
cargo sold by samples to Boston purchaser, and
the ship ordered to recross the Atlantic for the benefit
OF Massachusetts cotton mills
Planters in this section almost unanimous in their
approval of this loan, and wish the government to buy
the crop with bonds and treasury notes. which could be
arranged the currency of the country. Here then
would be exhited the grand spectacle Of nation of
freemen voluntarily offering up their all the altar of
their country for her independence.
/ would not presume to advise any plan for carrying
out the going views but have merely thrown cut these
hints, hoping draw from YOU expression of opinion
in reference them, and that congress will devise some
obviate the objections to the present plan.
Yours, very respectfully
T. w. BILLIARD.