The south-western. [volume] (Shreveport, La.) 1852-1870, 1861-11-06

are doing nothing whatever beyond the renewal Of ma
| turing Obligations with aud then an occasional
discount for Plantation supplies The very restricted
course now being toowedny our banking Institutions is
attracting more orless attention The pantersand lac
community have been under the impression tina
the Confederate Government would come to their re
lief This question may be considered as settled by
the letter of Mr.. secretary Memminger The planters
must in his opinion look to the local banks for relle
and not to the general government. On tins POM
he takes a statesmanGe view. What Is the extension
and relief now granted the SIS 90 900 due by the
community to the banks? It is Tor sixty ninety days
To be OF any essential real service, all payments ma
turing should be thrown till next season. unless II
the interim the ports should be opened and exports
produce resumed. Oar four old Chartered banks might
As we'll for all the benefit good they are now doing
the community beyond the sixty day renewal go into
liquidation ut once. BY accepting the recommends
ton Of the governor they passed. were, the rub
con. They followed his suggestions and recommends
ton only the extent OF suSpendng OF com payment
The executive proclamation InstructS the banks TO the
following regulations; The circulation OF the charter
ed banks shall exceed the amount OF coin actually
held bv them, implicitly meaning that they can OF
should expand that amount. The free banks to be
restricted to the amount OF bonds securities IN the
hands Of the auditor Of the State. The four old char
tered banks to-day had in vault Sl05 II 96l. Accord
ing to the governors prescribed rule they increase
their circulation So, 5000 0. The banks under the
general banking law had in circulation 81, 624, 800
I c. are a ed to expand t. the amount OF their Sc
cures il the hands OF their authorities, which would
enhance their circulation 81, 45b,C0l. This would al
ford relief to the amount Of Sc Sl60O0 or say 100 i
OOn; if necessary the post might be permitted 10
be issued to the extent Of 100000, payable within
a reasonable time after treaty OF peace. The char
terd banks having, Of course greater privileges than
the free banks, must, of necessity, ak the initiative
of any movement. n. U. Crescent.
A writer from Summit Miss suggests the following
remedy through the medium:
The board Of underwriters, in their rcuar Of July
o. promises to insure for threefourthS its value
on plantations Now, let your blnks step forward and
advertise that theywi discount MOTIFS OF the owners
OF the cotton with these insurance policies attached
say to the amount of two-hirds of the insurance, and,
al the rate OF SO h ble insured for $50, they would
advance $40 which would amply secure them, and at
once cause d circulation Of money in the community
and cessation ot urgent wants, which, more than all
others will cause them to respect the request OF your
citizens in keeping their crops at home.
Nearly every paper which take up at the present
time institutes the inquiry what are the planters to do
Tor the funds sustain themselves in the interim be-
tween the maturing of cotton and its sale in other
words the raising OF the blockade? This serious and
absorbing question with the planter, involving couse-
quences OF the greatest moment TO him. His cotton,
grown and stored in part already upon his plantation,
cannot be shipped TO New Orleans. Mosaic Of under
present ccumtan can be made and no money real
sed for the government has not contracted issue
bonds until they receive the cotton through the agency
OF the cotton factor; and sud factors will make no adj
yances to planters in ordinary times, not knowing
when cotton will meet with sale, and opportunity offer
for their rembars This tiss the hands Of the
planter most cecually Il prevents his obtaining one
cent upon his crop until factors fad sale for tand re-
ceve it. At the time, planters are demanded
10 paw property and taxes aud vet have no money
to do it wth and told that in many instances,
planters Of small means unable supply to the need
. 49, Hon a
the present bond system regulated must be apparent
ALL and doubtless the next Confederate congress viii
take speedily 70 advance to the planning nter-
est proportion of their crop value and thus ayrd the
desired relief Various plans have been intro JIccd by
CORRESPONDENTS to overcome the difficulties the planters
are experiencing, one of which take from the Mobile
Register
We hope that the coming session Of congress action
will he taken for the benefit Of the cotton planters and
Of hc whole country. 1t would be measure Of meal
cuable relefi the cotton crop could be convered into
money and all the millions of its value put in circulation
We hone that the government viii decide to purchase
much OF the the planters may choose to sell
paying for and special issue OF treasury notes,
be called in for redemption when peace returns and
the government is able 10 sell tts cotton Never were
paper represent tives Of value issued better basis
81 security than this secured currency would be.
Let the government do this and the blockade will o
shoru oil nne-tenhs OF its annoyance, and money would
be more abundant than have any conception OF
for the cotton crop would be sold and all its price kept
in the country instead OF being sent out OF il to pay or
imports, uorcuern profits, etc, heretofore. Capital
would be abundant for the prosecution Of all the manu-
faen.ing enterprises which have become 50 essentially
Important and The country would support the 50
lightly rs scarcely to feel its burden
Tie cotton factors could be She agents OF me govern
in making It's purchases of cotton, which would
main the plantations and the business Of moving it,
etc, when sold by the government, would remain on
ther hands. The government having direct control o
the supply Of cotton would WELD dictator.a power III
commanding the interest Of European nations who want
il and could blrter of the privilege Of obtaining il fol
such advantages or stance might be desirable
TO shorten the struggle which making for indie
pendeuce and place among the poweEs Of the earth.
Let the government buy cotton fair price and pay
tor in treasury notes OF special eotonecured issue
-rclecmable when the cotton is sold.
IConcordia Intelligencer.