The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1868-09-05
Credits to Southern Mercha nts-The
Prospects OF Trade.

from the New York Times, September o.
We have inquired of some of the leading mer-
chants of the city as TO the meeting announced
BY Brooklyn paper 10 have been held by
merchants Of New York, with respect to credits
10 be given 20 Southern merchants, and learn
that they knew nothing OF the affair. II it had
any existence at all, certainly it was not at
tended by auy considerable number. Indeed,
there is this marked feature about the action
of the largest houses in the trade, that they
move on in their respective spheres on their
own innate strength, without regard to the ac,
tion Of their contemporaries in trade, and
without consultations OF any description.
Of Judgment and in the habit Of acting prompt
" and strongly on t;eir own separate views OF
policy. The idea of fixing rule at meeting
Of merchants to guide their distinct action in
particular cases Of credit is simply preposter-
GUS. Each case would stand on its own merits,
and would.nee to be decided by the standing
Of the dealer, for which no special rules could
be prescribed.
fMsWho are familiar with-the trade OF the
city know full well that there are houses at the
South whose standing from long before the
war has been high, and Who can purchase at
any establishment In the city all that they de-
sre; for it is well known that their sef-impos-
ed limits ara always on the side Of prudence
rather than Of extravaganza, and that no skill
in drumming or any rsuasion Of sellers could
lead them from the path Of accustomed safety.
It is as to new houses that scrutiny is employ
ed; and as to those the rules Of dealing with
them are as various as are the degrees Of pru-
dence exhibited mother TRANSACTIONS. Credit
is not given by any geographical rules, but
according to the. standing and merits OF each
applicant i,
The expectation is quite general, and is we'll
founded that the South, which is always rep
resented here it's merchants, will be "a
larger consumer Of staple goods than it was
last year, because its crop Of food is abun-
dant for it's own wants, with some perhaps to
spare, an1 its crop of cotton Will furnish it
The qualification is wide spread that this con-
dition has been reached, and that all relations,
commercial, social and political, will soon be
restored ON what promises to be firm and
lasting basis. -I.'% - T..
The partners in Southern houses who have
remained here for few months past, watch
the state OF the markets keenly, and make
their purchases in small quantities as the ar
ticles are wanted, and are not the large pur-
chasers at any one time they were when
credits were long and the means of trsnsporta-
ton were less ancient and prompt than they
new are. The trade will be distributed more
generally oyerthe year than ever before, owing
1.-THE tssctthat last years trade was not profit
aB,g In many sections. Cara in buying is i'm
posed By this necessity and from the disposition
generally prevailing over the country to shorten
credits. This effect Of eQuaizng the distribu-
ton Of goods over the whole year, instead of
limiting it to the short period in the fau and
spring formerly devoted to the trade OF these.
respective seasons isof great advantage, as it is
not attended with the hurry and the risk which
were involved in the large and few purchases
of the old system. The importer, iobbec and
country merchant all share in the benefits OF
this.ehange In the mode OF doing business, for
each prepares forit. 1t is due to this that there
are no large stocks on hand In either class nf'
these merchants.
The Indications continue to be strong that
trade will be good throughout the year in all
sections Of the Union. There is no possibility
OF any fall ip- prices owing to any change in the
currency. That will be stationary, and no
probability exists OF an attempt to change it.
Cotton is reported firm here at 30}, soy and 81
for midd!ing, and aIthoug6 some sa hon houses . who
prints not good in style, it is probable that
prices viii be maintained OF foreign and domes-
tic goods at the present mark. - -
The CREST reason, however, for an active,
trade, In addition to what applies to the
Southern States. ID this, that our crops will be /
large, and that our. agricultural productions
will ibe wanted, not only in England, spain
and France, but also BY our ordinary custom
era. or the crop Of 1867 we are now strip
ping. ourselves more closely than would be
proper hpt for the abundance and excellence
OF this years crop, gathered and 70 be secured.
The English feel the misfortune OF a small;
crop carried over from last year. They have
but little stored, in any portion Of the
country, and it is ever to be hoped that no or
dinary temptation as to price will induce our
farmers to place themselves in the same con- ]
ditfon. heNstrength and safety OF the coun-
try are best. secured, nov that the precious
metals have been expelled from Us, by hoard
ing as much grain on the farms of the entire :.
county as may save us from the anxiety which !
nov touches every household in England.
Their extensive drought has made it necessary
to call instantly on the new crope, and thus
leave large portion, theyeay unprovided for,
and depspdsnt wholly on the supplies of for
eign countries.