The daily clarion. [volume] (Meridian, Miss.) 1863-1866, 1866-02-25


MEssRs. EDIroRs 1t has been quite
amusing to stand by, and watch the ma
neurveriug in regard to cotton money,
and cotton bonds. 1t really reminds one
of the games exhibited on the stock ex-
change of New York, by the famous bulls
and bears of that famous city.
There, the object of one class is 10 raise,
and of the other to depress the price of
stocks, gold, or any commodity on sale,
by any influences and means in their
power. AS both classes are spectators,
and OIL y spectators. it matters little to
the community which wins or loses, ex-
cept so far as honest holders may be af
fected thereby.
So with the cotton money. There are
two classes-those who hold the money,
and tn ose who owe the bonds. The interests
of those parties are opposite. and conaic-
ting. The interest of those who hold
the money, demands the payment of the
bonds while the interest of the debtor
tells him to get rid of the payment, if he
can. 1t is decidedly rich and amusing to
hear people talk about speculators in this
matter; as if the speculations were all on
one side. i is no speculation, forsooth
for wealthy planters to borrow FIVE or
ten thousand dollars each, from their
neigAbors in money almost as good as
gold, and then get rid of paying it on
legal quibble; and yet, that is just the
gist of this whole matter.
Planters, for their own convenience,
borrowed cotton money. pledging cotton,
property aud endOrsers for prompt repay
ment. They borrowed it to all intents
and purposes, without interest, from their
neigh6ors, because their neighbors gave
them in exchange for these notes, corn,
meat, clothing. land and anything they
wanted at the lowest cash prices, be-
lieving that the planters would promptly
pay the debt, when due; or that it could
be collected by due course of law, 1t
was this confidence alone. which made it
valuable to the planter. Nobody pretends
that the planter, did not get full par val
ue for their bonds. If the bonds had
been given directly to their neighbor for
corn and meat. would anybody doubt
about the propriety of paying theml But
what makes the differencel The plan
tiers deposited their bonds with the State,
and gave their neighbors cotton money
instead; which cotton money had no val
ue, excepting what is derived from their
bonds. The neighbors still hold the
money. and now ask payment, but are
met with the plea, that cotton money
was issued to " aid the rebellion" and,
consequently is null and void by U. S.
law !! Is it not rather touch of the sub
lime to hear the very men who got up
the rebellion )" and for whose benefit it
was carried on through seas of blood.
putting in such plea as this to avoid
the payment of their honest debtsl Ye
Gods have Mississippians come to thisl
But. say the planters. "speculators
have bought up the cotton money at
heavy discount, and will make fortunes.
if We pay!" Exactly SO; but, at the
same time you do not hesitate to specu-
late to the ertent Of your bond. Is not
that rather /" loud spNcnlaf,ng ?" to take
the whole pile. and give nothing!! Or
dinary spectators run some risk. They
pay so. 90, or 10 cents on the dollar.
looking for rise. They may double or
triple their money; or they may lose all.
But the planters, who gave their cotton
bonds, knew better than this. They
made sure game. took the money, used
it with great glee, paid their taxes, their
their overseefs, their teach
srs, ct i'd omne genGs, and now fall back
audsr the U. $. dag. and rspudiats. z 81