Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1861-10-08
RELIEF tn TuE PLANTERS.

There can b no manner Of doubt that the
hardshipz at da WEI src pressing more GENEROUSLY
upon he printing interest than any other com
muufty Of people in the South. They are forced,
in fact, 10 bSr Is very Lruni. The season for
uhC zanuaI sale Of tncir cotton x gradually com
ing GROUND, aad there being no market for th1
staple owing 90 thoezisuncc ftho blockade they
find themselves without money Tor tho purchase
Of the ordinary neceTsldes ef lie They have the
representative OF we.Ith-lan3, negroes and cot
ton. which. in ordinary iiu,s, command cash
With the most ua~bes;sting fsciIity@ut such Is
the d-erae Of public d;struS; and the ~indispostion
Of mon.ed institutions to credit in the present
crisis. that they find It nezt 10 Impossible to oh
tan currency Of sny character wh3ieveL
This fact, Il seems 10 Us, cnjeins the dut. uy0U
b5th TIC g-oyrTnnsnt aud The banks Of tie Con
felersse Ssates 10 d,rcc' their energy and alter
son to the nj &C; closely, ANIL some scheme is
dsvised by which these p~suietic snfirrcrs car b
relieved As matters ncw stand, they certainly
nsod iuleTposltion from some source n their b"-
hsE The pan a q prodace loan, proposed
s8als t.nse siaoe By government, IS unior present
circumstances utterly inprscticzhle, ana i csE-
red os.t - . letter vii afford no ren4edy fcE e.
isaing evils. but en the contrary viii rather az
Eravste them. Planters. ioJ instance, are directed
70 mention he factor 10 whom they will consign
ih.rr cotton when hey enter their subscriptions,
and ere at the same time Instructed by both gov
crnmen. and factor, not to ship a. al, bat to re-
tsin their cotton on their plantations. These con
Rict;ng recommendation assist materially in
corlplicating matters. and The highest degree Of
craftsmanship Is requisite TO unite the Gordian
knot.
These facts have inducedus to watch the press
throughout the South for Suggestions calculated
70 solve The difficulties IN The way. and shall con
tiuue to present such from day 10 day, as, in our
mind, may be deserving Reconsideration. Among
several wAieh we observe ia a late issue Of the
New ORLEANS Deta-a journal which has paid
q l2udab!o attention to the subjct-Fe observe
Tho following from a correspondent:
The board Of Underwriters, in their circular 4
OF July -. promises 10 insure cotton for three
tonrd rs valve on plantations. Now let yuuT
harl- Sep fsCTsrd ami advertise that they will
q "r.at ne5es Of the owners Of cotton with
ines Insurance policies atterhea, say, 70 the
aI9Huu. uf tBo-.hi-ds IL tn Insurance, and 81
a. go 81 5 . ~ ls.o. insured for $50, they |
woe,l5 alvsnce SO, which woald amply secure
LaCus, and u once esuse a circulation Of money
in The community and O cessation Of urgent I
wants. which. ulp-e than al others, will cause
them g. Frspec; the request Of your citizens in
Looping theiE crop Al home.
II Gyyernmert should fail TO advance 4 given
and limited pc oeut. upon subscriptions. rs ex-
plain 4 by us repeatedly before, il will b. well
fl the hanks Of .he South to take the above
sUEgestios under amusement. ThCre can be no
doubt that ihere is quite as much, If rot more,
money in the South to-day than there was twelve
months since. The only difference is that the
crisis has supcrinduced Lanlentable want Of
coniidenco, tmid capitalists have Withdrawn
ta.iI money from deposit for the purpose Of
boarding Il, and moneyed Institutions have con
8 acted their circulation by refusing extensive
Ioan5 even with the best security.
Now we cannot see how ths banks can object
the above arrangement. provided no better
one l. spe,dny devised They have a consider
able anouni Of surplus captain now on hand which
must Of necessity be idle in their wants, unless
into circulation; aaI de security offered
tor thu aGvs1Hc suggested. Is Of q character tha.
may b. strictly said t. make issuance doubly
sure. In he first place, they loan less than one
half Of the value Of the cotson-and IN the second
lace. have III insurance policies. covering Two
.birds Of tae staple insured, attaehsd as addition
i indemnity sgainst any Possible los-.
NJ zafr Investment by lie banks could pos
lbly - raade, even real estate security ia ordi
nary Gmos, falling 10 afford Naturalization 3"
aerl4in. This plan, among others, ought TO b.
digestcd by our monetary Institutions, and
should prove obnoxious 20 no very serious OBJ
vedons. ought to b. promptly acted upon b.
Their past pariotsus indno,s rs 70 b.
isve thai, i the wogs. does come, they viii not
alter.