Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1867-10-23
Cotton and Trade.

The brilliant prospects of an active Fall
trade that filled the minds and hearts Of our
people, few months since, have disappeared
almost as suddenly as the mists of the morn
ing. In their stead, complete paralysis of
business aud cruel disappointments have
traEspired.
Tho relations OF each class of society are
so intimately connected that no special pur-
suits can be seriously damaged without cor
responding losses to ALL. In the present con-
dition of cur country, no calings depend so
critically upon cath other as those or themer-
chant and planter. The planter is beholdcn
to the merchant for supplies to enable him TO
make his crops /; the merchant to the planter
for prompt reimbursement as soon aS the crops
have been matured. Really and puuc;ual
action on the part & thc planter is eminently
necessary ii order that the merchant may
meet his obligations in Bank and maintain his
credit, upon the preservation OF Which the
planter must rely for future accommodations.
In consequence, therefore, of any widespread
non.tulflmcnts of these mutual liabilities,
all professions and avocaions suffer and busi-
ness generally comes to halt.
When tie planter considers the entire pros
traton of capital, affecting alike merchant
and banker as well as himself, he must con
loss that The merchants of Augusta have ex-
tended him and his associates lberal, very
liberal support. In former years, we had
five banks, with capital and disposition TO
supply the every need of business at seven
per cent. Tben, merchants could easily OBJ
tain Indulgence from their creditors, from the
fact that Northern dealers knew that the
goods sold to the hcme dealer on timc were
disposed OF to planters, who were universally
recognized as solid men from the ownership
of estates and slaves. Now, all this is changed.
We have a small banking capital--not one
fifth Of What it was before the war-and the
customary rate Of interest is nineteen instead
of seven per cent. Many merchants, too,
have paid much larger per cent. for short
period, to ena1le them tu meet their obliga-
tions, while those indebted to them do no.
make corresponding effort to satisfy the
claims against them. Therefore, the home
merchants arc sorely at q loss to keep up so
unequal struggle, and, failing to honor their
notes promptly, the Northern merchants, be-
traying feeling of Insecurity with regard to
eyentuel payment BY Southern creditors, will
refuse to extend them the same favors as tci-
merly, unless tue planters come forward cheer.
fully and generously and place their cotton or
other produce upon the market. Unless they
do this, regardless Of present prices, and pay
what they owe, business must stop, and every
branch become deranged. This stagnatiop,
injurious to .he merchant, as it is will react,
finally, upon the planter; for merchants must
either abandon their trahc, break, or decline
credit to any extent.
This year has been it is true, fatal one to
the planters, although the bread crop is good
and will prevent starvation. Yet all their
money transactions and calculations were
based upon cation ct about the ruling quo
tations of last Spring. The swift and unex-
pecsei decline in prices has completely upset
their plans and prospects; while the autici:
patton of rise in the market tempts them to
hold back their cotton in defisnce of their
promised word, which should be more sacred
than bond.
Cotton may or may not advance in price,
Those who profess to be posted as to its sta
tistics etc. arc divided.in opinion, The planter
must be his own Judge, and, if he desire to
speculate or risk on that point, he should do
SO only after first selling enough to keep his
credit bright and shining. 1t twillbe of great,
er value to him, in the long run, than two
cents per pound more in the market price,
lie will be cheerfully assisted during another
season. Those, on tho Contrary, who pur'
poscly avoid their obligations, will ask fol-
credit and ask in vain.
In case there should be some among the
planting fraternity who have cancelled ehei'
debts, and yet possess cotton over and above
them, we would suggest to such that the lire
proot warehouses Of Augusta afford better
and safer protection than the extemporizee
country sheds. In these ware houses the cot
ton would be insured at low rate and hay'
precedence in the market, if the price Of th'
!, staple should Observation-Disclosures.
Information from the rural districts of vir
ginia, represents that the Union League
formed by the radical negro pholists are dis
integrating. White men who Joined for fea
n = 80 obo m od of fh