, 1861-07-17
The Humbnx pf the Cotton Loan-.-
rx. - s.epnere e 9n E9op1 1 Ernaa.

SAanN3 LEst1QEb 10 LQ6 AQ6uIO4kt eA1Q tQ6 uEEeT
nnsuccess Of governmental interference With
things properly pertaining to individuals, and
in regard to which man in their separate, in
dependent and untramme1led capacity alone
are competent to deal. Especially Is this
great truth 4demonstiab1e from the attempts
hitherto made and still making, In various
parts Of the globe BY governments to control
aggencias o PSep n Of n1ta Of Re h
mode Of ftee and Unrestricted competition
among the citizens Of the community which
the experience and history Of the greatest
nations have shoRu-to- have been most sue
cesEfnl and remuneratiYe- To find, therefore,
at this late day, when political and economi.
cal science have BECOME almost branches Of
ing to civilization end enlightenment, a GOV
neutrality-suspicious. though 1t be-starting
upon new and .unt1icd experiment, and
trusting for its succesa upon any expedient,
condemned and rejected By the intelligence
Of mankind, is remarkable and surprising,
and We fear the impression It is calculated to
mike upon the minds Of men, otherwise
disposed to contemplate favorably the move
ment which # IL advanced ostensibiy to pro-
mote, will be dieeouraging indeed. The prop
oeition We al1ude to Is the foolish scheme Of
converting the provisional authority now in
charge Of this Confederate Government into d
great cotton, sugar, rice, tobacco and other
joint stock trading company, for perhaps, the
immediate enormous profit Of the managers
and their friends and to the ultimate injury,
loss and gr1eyous disappointment Of the great
body Of people. We do not charge upon
President Davis or Vice President Stephens
q deliberate or other purpose of seeking
their Own aggrandizement when they sug-
gest, or, as Mr. Stephens is doing, stump tue
conpfry, urging eaie Of cotton OF other crops
to the Confederate: authorities; but with ali
1TFn = - -
nonsenslch Quixolic, or unstatesmanlike
proposition has never since the project OF the
national workshops IN France, BY the social-
!st revolutionary government Of that people
in lsss, been seriously proposed BY any com
mercIal Or educated people. We can easily
and readily comprehend how O love Of
Or isaP af ths hsa1ea % Rhe biocPaae
OF g. desire to avoid the Payment OF debts to
The exporting cities, or an idea that hI1b p1i-
ces can be obtained from Governmental pur-
cnaser IN agpreclated paper which could be
used ln setuement With unwilling creditors,
should be Inducements very potential. If moi
irresistible, to induce Bone men to nrne n
monopoly Of the agricultural market Of these
states by the persons who have fortuitouslY
1ouno themselves In power; but If the people
can ma III such irrational, dangerous, fmpol-
lt1c, and uncommerct4f scheme, any feature
deserving Of couatenauce or encouragement,
fhen We think they will find prosperity and
1feedom N any system, however revolving,
ior their adoption. If Davis, OF Stephens, or
any political economist Of the Government
scheme Of cotton monupnlisiug, would conde-
ecend to explain how the thing is to be done,
perhaps It might tend to modify the harsh.
ness OF the condemnation every business man
pronounees. upon 1t as presented. Who
ere 70 consntute the arpy Of brokers, who are
mine its price? Are they TO be remuuerated
~ the spontaneous liberality Of the planter,
or are they to have commissions from both
purchaser and seller? Where isIit to be stored.
who are to lave the pressing, what peculiar
tone, tint OF Characteristic In the mixed poll
tics Of the day will entitle the common public
Ike ourselves to IN equal participation in the
profitable dtappings that viii ooze in. such a
Juicy current from this stupendous fountain
o. official patronage !. Have Messrs. Davis,
Stephens, and their associates, auy other
means Or mode OF sending cotton and other
things to forelgnf nations, ,thanIthose the enter
prize and ingenuity Of men especially con.
Versant with trade and long engaged it It, can
put in Iequisition? Will they descend from
enquiries, which the merest tyro in commerce
will perceive underlie the whole scheme, so
foolish IN its conception, 80 ridiculous In pre-
eentation, so dangerously impracticable In the
attempt to carry outg We suppose It NAV be
taken for granted that the provisional leaders
Ioombs, Benjamin, and al1-are Of immacu-
late purity, men beyond the reach Of any other
motive th an springs from the purest, loftiest,
and most disintertsted patriotism; still, are
tile people so confident of their commercial
capaeity-admitting the nnimpeachable integ-
rity OF all the administration to be willing
TO elothe them with the power to make what
they please money Wherewith to buy up their
crops, and then dispose Of the same as their
interests, ambition, political schemes or per-
sonal taneies may suggest The authors Of
the impracticable ana stupid scheme were, we
are willing to say, DOUBTLESS persuaded thBst it
was cne highly eligible IN unotjcctionable !;
indeed, they were, In charity NC believe, Who'll
y incapable Of perceiving any objection to it.,
1t looked so tine upon paper or from the stump
70 call upon planters to come forward and sell
their cotton to the pure patriots who, for large
salaries, generously administer their affairs,
ana take N return ats full value in treasury
paper, Which, again, they-the planters cred-
.tors-must secept in payment Of all claims,
OF otherWise risk being called malcontents or
Atohtionists: The merchants, bankers, fac
tors and traders Of this aud other cities can
scarcely have reflected, it seems to us, upon
this knstter-otherwise it 3s not creaibie thnt
and ac4 niesces Is they o. often do, when
propositions affecting their own welfare and
the best interests Of commerce ruinousIy.
are brought forward. If any planter, arAo IS
esHef debt, desires to give a portion OF his crop
to the government, BY all means Let every
thanls by press and people be accorded to
such commendnb.c and Patriotic liberality :;
or ii, on the other hand, planters desire to
manifest their faith in the government, let
them Instruct their factors, after paying their
debts, to invest = proportion of all that re-.
mains in the bonds Of the Confederacy. These
can be no objection to this; on the contrary,
as We have eatd, it will deserve the highest
euogtums but 1t is far otherwise WITH the
suspicious scheme Of selling the crops to the
provisional authorities, at Prices to be tixed
by men over whom there could be no control
exercised, and, too, #hen til market gives no
standard by which they can be regulated. We
are strong friends Of Mr. Stephens, and hare
been 30 many gear; to find him, however,
stuDping the country, or drumming It rather,
scheme, unsettles our faith In his talents, bis
experience, his political knowledge aud his
sta1ekmanship. Whether successful or not,
the stupid proposition will only be remember
ed to the reproach of those under whose incu-
baton It was brought forth.
sk1rmIsh Between Indiana and Geor-
gfa Troops ut Laurel HilI.
Ihe correspondent Of the Cincinnati Gazette,
with Gen. McC1el1an's column, thus describes
the skirnlish between the Indiana and Geor-
gia troops at Laurel Hill, on the 10th, prior to
the general engagement;
descending from our position in tie after
noon, We found that couple Of companies of
sklfmlshers had been sent out to meet the
advance OF the bodies ne had seen marching
ooTn ths road out Of tie enemy'e camp The
sklrmlshlog, which tad been Kept up briskly
all Gay, was beginning to be much more lively,
and it Was evident that the wooded hill oppo-
site our preastWord, and just beyond the VII
'age, was full Of the enemy. Their fire SEEM
cd directed not only against our skirmishcrs,
but also against the artillerymen standing at
their guns, and the troops within the breast
works. Going down to the artillery, found
the balls whist1ng overhead apd striking as
far back Is the position Of the Seventh In
diana. Several soldiers had been struck by
spent balls. Finally bullet struck the 50 ,cr
OF an artillery officer. This was getting lit
tie too WaIm, and rapidly sighting the qua,
Re dropped shell in the wood in the direc
tion from which the bullet came. For little
while the enemy seemed repnlsed; then they
ieturned and began sharp fire on our skir.
1.ffhere. To did the latter another shell was
tLrown toward the rebels. Our boys instantly
a rang forward the moment the shell burst,
I'D poured in . CALLING yo1ley upon the enc
my, picking of particularly tie mounted Off
cem.
As soon as the pieces we're discharged the
boys hurried back to the trees and fallen logs,
behind which they concealed themselves. Id
their charge they had discovered that it Was
the Georgia regiment With which they were
engaged, backed By strong force Of cavalry.
For few moments a1 WAS quiet; then the
rattle Of mueketry began again, ounmen appa-
rent'y giving and taking in about equal proper
tlone. An occasional shot from the enauy was
still whistlIng sf6undz the artillery, when Col
Milroy, with The utter recklessnesa of personal
danger characteristic Of the Inan, spHang upon