New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-09-13
THURSDAY MORNING, sFprENBER i, 1855.

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Meeting of Cotton Factors and othe,
Interested n the Cotton Trade.
New ORLEANS, September Ii, 1866.
The meeting was organized, on motion of NJ
~ W Estlin, BY the election Of the foloWir
officers:
f. President-C Fellowess: vice presidents,
MuEson, James Hewitt, j. P. Harrison; secretar
Joseph Denegre.
The president stated to the meeting that, at a
informal meeting held several days ago, a con
mittee had been appointed to examine the iilternt
revenue law, and the regulations recently issue
by the treasury department under that law, 70
The assessment and collection of the tax Of thre
cents per pound On cotton, and to address a me-
mortal to the honorable the secretary of the treas
my, respectfully suggesting such notifications 0
these regulations as the exigencies Of the cottoI
trade seemed 10 require.
The committee, consisting Of Messrs. JOIN
Watt w. III Pinekard, A. H. May, S. B. Bnckner
a.. ]. Heron. n. Nugent, @. Fellowes and Alph
AEiItenbergsr, had agreed upon memorial, which
Il no objection was made, would be reported Il
the meeting.
II The following 4 memorial Of the cotton factors
ana merchants Of New Orleans to the Hon. Hugh
McGulloch. secretary of the treasury of the
meeting in behalf Of the committee, by Gen. S. B
Buekner:
Hon Hngh MecuIioeh, Secretary Of The Treasury wash
Sin our memorialists, merchants Of New Or
leansi La, beg TO represent:
That the regulations concerning the weighing
and marking Of cotton, the assessment and col
lection Of the tax and the rempvalof cotton under
Sonas prescribed in Series 2, No s., from the
treasury department, office of internal revenue
undeT date, WashingtOn July 81, 1862 are ex.
sceedinglg onereus on the planter and the Iner
CHANT and are, in the opinion of your memorial
astsy not well adapted to protect the interests OF
Ghe government We, therefore, respectfully sug-
Eest such notifications of these regulations as
WILL il our opinion tend to relieve the planter
! and the merchant from the embarrassments at
blending the existing regulation thout operating
adversely to the interests of the government and
at te same time in harmony with the spirit Of ex
5iRbbing laws, B 85 ls@ts5-
The object Of the revenue 7layys imposing a tax
upon cotton is, doubtless, to collect the amount
levied upon that produeta at the smallest cost to
the oyeraTnent, in the shortest lime possible and
4 Will the least expense Inconvenience and annoy
aHlee ito the citizens who pay the tax IF all the
cotton in the hands Of planters could be moved
onceg without obstruction, to points where it is
usually shipped for sale. With certainty that the
tax would at once be paid on arrival at the point
PIT sae, il would be the most desirable result for
the government. The nearest approach to such a 4
g1esult should therefore sought. The present
system is calculated in our opinion, to interpose
way Of accomplishing SO desirable an end. 5
The cost Of weighing viii be greater 10 The
planter in the country than at the point Of sale
tie must either haul his eottons at a heavy ex-
pelse, to q point designated for weighing, or he
must pay the expenses of the assessor 70 his plan
Eation in addition TO other costs of weighing.
z. Before moving his cotton he must await the
convenience and the pleasure OF the assessor
when, 0ftentimes he may thus lose the opportu-
nifty of shipping his crop. On many of the tribu-
fares Of the main rivers the season Of navigation
continues but short time, and the opportunity of
4 Ahlpment once lost il does not return for year.
Ihe sickness or neglect40f an assessor might thus
result disasrously entire District II is the in
terest oe the planter, as well realize gu his crop
to avoid tile risk Of its destruction, TO ship it to
market aa rapidly as it is picked and baled. In
this way he might realize on much Of his crop as
early as October or November. Under the pres
T sent system he may be compelled to awaituntil
January the baling Of his entire crop, thus incur
( ing the risk Of its destruction by fre-or he must
5 submit to paying the expenses of repeated jour
4 neyH OF the assessor TO weigh andamark and bond
his crop for separate shipments Of different por-
HOES And it will often happen that even where
the planter and assessor viii agree in all respects
n reference TO eompens ton, tile numerous calls
upon tie latter from different planters in widely
separated localities will neGessarily occasion delay
which may prove fatal to the interests Of the
planter
81 Ilongh there are very many districts, they
If are still en- such extent and the communications
aresso difficult, that 1t will be impraGticable fol
the to visit the numerous plantations ant
attend 10 the weighing of cotton, without So 1nul
ylng the number OF assessors us to defeat the
Il OBJECTS OF the revenue law, Cotton which NIGH
already have been in the market Is, we are as
snred, now awaiting at various points, and in an
exposed condition. the pleasure or convenience Of
115 gheTs.
The difficulties thus interposed in the way Of
executing their duty. will bea strong temptation
70 government agents to certify TO constructive
yelghts II order to overcome the impra ctibilites
OF the regulations, or to avoid difficult and I'M
sive frauds upon the revenue injurious alike to
the planter ana 70 the government.
6, Many OF the points designated for weighing
cofton are so announcement and SO inaccessible to
majority Of the planters, That the cost of taking
5heit cotton to the place appointed would be
+ aouDis That If conveying it TO New Orleans, or
y ,.a 9r Some Of these points seem
y ~ nave been selected without any reference to
me convenience Of the planter, and some Of them
are practically inaccessible at some periods Of the
year.
4, Ihe alority Of the points where cotton is
usually shipped by planters have not been desig-
natedas weighing points.
q, On the naygable streams the majority of
planters have shipping points on their own places
og very convenient to their plantations lt is an
unnecessary hardship to require them at great
cost, TO ship from another point specially desig-
mated for weighing cotton, when the government
can derive no Notwithstanding from imposing
such hardship and expense.
s.. The majority Of the planters must depend
upon the sale OF their cotton to enable them TO
pay their tax They must, therefore, either sacri-
fee their cotton by selling to those who wish to
speculate upon their necessities, or they must
give bend for the payment Of the tax before the
cotton viii Bis permitted to leave the district.
This bond is needless hardship. when the cotton
il itself sufficient security.
8. Most Of the pianters have received ad,
Vances from merchants ontthe pledge of shipping
their cotton To the merchant who advances. The
requiring of the bond By placing the cotton an
der the control Of treasury officers on its arrival
MT the port inteFfeTes with this arrangement be.
tween the merchant and the planter, It enables
the collector to send ii to such bonded warehouse
rs he may Designate before transferring it to the
merchant, and thus to accumulate unnecessary
Cost to the merchant and tie planter.
l0. The. bending system may seriously interfere
Wltn the disehafgiag Of cafgoes by steamers. A