Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-08-05
TIE OoTroN cRop.

~ 49, nv
The AGRICULTURAL Bureau, after tudus'
triously circulating the report Of the pos
sibility Of a 100000 bale crop of cotton
(even so late as its July statement putting
it at 3 100000 bales)now mt down from
its high horse and gives it out to the
country in 8 dispatch of the ID inst, that
There Is good reason for believing tie cot
ton crop Of tbs gear i0iU be a trDfe less
than three MILLION bales" Where now be
ali those shrewd guessers, so anxious TO
subserve the Interests of the bears and
depress the price of our principle staple
e the injury Of nj planters aud indeed
that Of all branches of business in The
South? This hasty confession of the Blu
reau, although nearer the truth b any
thing it has ever given out as TO cotton,
coming, as it does, so soon after its July
statement (prognosticating a 3, $4,000 bale
crop, proves for it what we have elaimed,
that It is entirely inefficient and nnrelia-
ble. Between the printing Of its July re-
wort and the publication Of this last state
( nothing has TRANSFERRED that would
instifv extraordinary a difference as
,ha, 49,. s5O9,OeO bales and less than
M tn t.c, Tor the latter estimate
have been published BY the 'PE al
most every day during
weeks. But this is only snoth, PIooi
that the Government is always behl. "
private enterprise.
WORKOUT NATIONAL BANK NOTES.
A correspondent of the Philadelphia
Ledger but echoes a complaint that is
now very general throughout the eoun-
try, that the national bank notes need
renewal. They are much more filthy
than the g~reenbacks, in which they are
redesnable, and If their renewal is much
longer delayed holders will ask their re-
demptiOn in greenbacks, if for no other
reason than 20 get possession OF a less
filthy currency. The Ledger says: w
know that the national banks say they
cannot furnish new notes tin the old ones
are sent in to be exchanged. But this is
precisely what we complain of. Not that
the banks reuse 10 perform their duty,
but that the system is so defective that
they are unable 10 do so. Seventeen hun
drsd banks, scattered all over the coun-
tIy, Issue three hundred millions ofnOtes
exactly alike except as TO the names Of
the banks, and all circulating promiscu-
ously. These notes cannot be renewed
unless they are sorted out, returned TO
the issuing bank and by that bank sent to
Washington, whence, after q delay at the
discretion of the Treasury officials, new
notes are returned TO the same bank. All
this involves trouble, risk Of Transporter
ton md loss of interest, which nobody
has the slightest inducement 10 incur. 1t
is most fortunate that the profit on lost
or destroyed bank notes was reserved to
the Government, and this looks almost as
II the trainers Of the law had a foresight
of the way in which il was TO work. One
thing Is certain, the national banks owe ii
10 themselves, and 10 a proper SENSE OF
decency, TO set such reform in motion IN
will correct, II not entirely remove, the
growing nuisance.
INSPECTION or TOBACCO
The stocks in the tobacco warehouses OF
st. Louis, says the Republican, on the
first OF the p~resenth month, rs compared
with the same date 1853, are reported as
follows: