The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1869-10-08
Planters and Merchants Association,

The combinations which large mon
cy rings can l'ring to bear upon the
cotton market, the effects OF which
we witness in the South from year 10
year, have bcstirrvd our people TO
measures Of scli:protcction. There
have been many plans proposed for
The amclioration Of the farmer, bu:
none Of them seem to be available.
We hear Of another scheme bruitc;!
about which has risen from the cmcr-
ScncicS Of the hour and is he cOncOc.
ton Of 4 practical and thoroughly
experienced business mind 1t is bro
posed {" form an Association Of r!ant-
rrS and merchants with q capital a
S'o0,o1O or $5Gn,00 This capital is
+" hc invested rs the President and
Board Of Directors (to be clactclj
shall deem best for the welfare Of tho
company. The funds thus obtained
Will be the basis Tor the negotiation ui
loan in Livcrpco! at tho opcn:m" e!
each cotton season. The iiin,i; thu!
obtained will be advanced TO planters
or shippers Of cotton, through well
established mercantile firms, TO the
House selected in Livcrncu.. af one
per cent. per month, without addition
I'll charges for advancing.
The benefits to derived arc
firs', The advantage Of direct
transactions with the great cotton
centre.
Second, The obtaining Of funds at q
lower rate Of interest than can be had
III This country to move the crop. II
IS calculated that 5000 GijD, invested in
good bonds, used :,5 Il bonus. would
command sum in .hc ncfyhEorhoo,i
OF Sl,3o0,G00. With the quick trans,
portation Of the present age, this sum
can be turned over every thirty DAYS.
and, during the cotton season of five
months duration, five times 1900, 900
would amount TO 81, 800. 900, being a
greater amount than the Banks Of AT
g'Sta afforded PRIOR 10 1860.
In addition to the great incidental!
benefits such an Association, as cut
lined above, would confer on the plant
ing and business men of 4 communi-
~. there would be handsome direct
income from investments iudiciousIv
made. With safe, interest DRAWING
bonds. it is reasonable 10 suppose that
the Association would secure from $
to per cent. profit on tho rate at
which it could borrow, and. tho one
per cent. per month charged for ad-
van6ng.
The capital stock might consist of
5000 or 1000 shares ct 500 each, the
full amount to bc paid in when char
ter shall have been obtained and Of
ficcrs elected.
We have only time to-day to sketch
out the mcagrc outlines Of this pro
jcct. We shall rccur to the subject
again. Meanwhile, it would be we'll
for the wise heads among our plant,
ing and mercantile communities to
think over these matters and, if DOS
sib'c, either improve upon this plan or
cXcoStatc some other which will rene
dy the evils Of traffic now so seriously
disturbing the great majority of those
IN our midst who believe in King Cot
ton and desire that all conspiracics
against his royalty shall be summari-
ly Suppressed. This scheme, detailed
above, is no idle project. Double the
amount required to forward it is now
lying idle in the hands of those who
trade in and with Augusta. They
have it in their power to be indepcnd-
ent OF the money rings abroad. Will
they exert this powcr?-Augnsta Con-
si!uHonoNSt.