Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-07-08
Governments closed dull in New York,
with a slight decline throughout.

10N AAAAANAfo 1N1oNAaAAAAA - = va y
with a slight decline throughout.
Bonds Of I8SI..-.....-..---.Il4z9-
$40 Bondsof 1852 ----..---..Illa9-
$50 lo64----.------.lllaSQ-
b-O loo9f------.----lnHsG-
$40 new lS65..--.--.---ll0A@-
$50 1851, .-.---llO5s@-
$40 loho, " .--..--ilOA O.
1910
Pacific
MEsIPHIs, July :, 1870.
Editors AppeaE. There can be no impro-
priety in calmly discussing the questions
which enter into the prices, quantities
and manner Of preparation Of the great
staple which gives life and motion to all
our wants, interests and necessities; and
any su-ggestiOns-no matter from what
source-that NAV tend to throw a safe
guard about the operations Of even a sin
gle planter or merchant, will, it is be-
Geged, not have been offered in vain, One
of the chief difficulties with many persons
in the past. has been a too ready DISPOSE
tiOn 10 credit all theories looking To in
creased prices. 1t seems TO have been,
and now 10 be, the tendency of the ma
sority of planters especially, to magnify
into undue importance every little local
circumstance looking 20 inflated prices;
and almost all of them are in the babft OF
estimating a decreased general produc-
ton by the ~unfavOFable local conditions
L0HL nay A1Dbtu - GndAa IpEElHb bnS N0Aebl
of their respective neighborhOOds. And
this mode of calculation does not, with
them. as one might naturally suppose,
necessarily apply TO the same reversed
principle. For II it did, it il believed
that many Of the planters woes would be
remedied. If instead of, as is usual, ex-
aggerating the expected price of a grow
ing bale of cotton, each planter would
base his calculations upon some safe as
sumption certainly inside the limit OF a
fair average price, there could scarcely
be any probability Of trouble between
his debit and credit accOunts at the close
OF his cotton season. But it is too well
known by all who may read this article,
tina such is not usually the case. On the
contrary, most planters I'VE are glad TO
record wise eXceptions) on account pos
sibly Of sangulne Compartments, or more
probably Of some strange and unaccOunt-
able destinations which a large bale of
beautiful "Middling" seems always sure
80 create in the enthusiastic producer,
are sure to make theic purchases
and create their obligations pom this
EOse-water theory, only to find at the day
Tor settlement the whole fabric OF their
calculations demolished by the hard and
unhappy fact Of unrealiEed expectations,
and the planter Is not always alone TO
blame. For while many Of that class are
80 be numbered among u wisest and
best informed citizens, others OF them
are, by the circumstance Of isolation, As
well As other patent causes, deprived OF
that enlightened knowledge Of the
worlds progress, which Is ever ouch
safed through the influence OF the power
sui public press to those in Fortunate
proximity to railroad and telegraph sta
lions. We conclude, then, that the mer-
chant has in some sense to shoulder
the responsibility of his n-eighOOring
planters ignorant misfortune. II is pre-
sumed though 1t Is cOntessedly in GER
tsiu cases. d strained p-resumpLiOu)
thai, however, ignorant and uniformed
may Ss the rural cotton grower, his mer-
chant, VITO keeps the crOss-rOad pOst0fics
and is supposed 10 read the papers, is
certainly coguiZ3ut of the reported
prospects and generally accepted c0udE
lion Of crops. prices and such other cOul-
Werei5l Intelligence as may bear directly
urO.a The great interests IN questions and
thar be therefore becomes, Indirectly. re-
sg0nsib.e for any lack Of Indignation in
1be person of his ~ueiZhbOr. If, then, Inc
Eruta Of these positions be admitted, 10 Al
once becomes the duty OF tbs merchant
ihis means Of acquiri5g earlier and cor
rect information being SUPERIOR 10 CON
stantly press upou he planter the ALSO
lutte importance Of careful scrutiny INTO
any and all facts tending to develop the
exact condition and prospects Of tie sta
pie upon which he seems solely 10 depenG
for the very bread Of existence. And, Ia
the doing of this, lac sUbserVes more than
one good end. He, in the Grsb place, dis
eOurazss the planter from that too hope
Gui view which might tempt him TO en-
danger his famIly's support; and, ia the
second place, keeps within JUDI
ciOus ImiLz the said planters ran
ming account, which, unmatched,
might lead, especially if multiplied,
70 a condition OF things looking 10, ii not
--lHa- rnL.alrnHaH- - hanNwanHamr 10
b..b buyer aud seller. To sun mp, theH,
we ca~clude that. admitting first the in
csIculshls Importance OF an intelligent
KNOWLEDGE o. surr0uudlngs, &c is All lm-
portaut 10 the Sr0Ser TO guard against
This tendency to OYer-estiAaLe D price
of his productions. Let him act as n ne
expected a failure in. rather than excess
of monaye5 reeeipts. Let him set actively
10 work to get early 10 market, and IN
the very best possible condition. the
growth of his labor, and let him INK a Uni-
form rule to sell as fast as ready Tor mar
ket. These suggestions, if followed uni
tormlv, il is believed, Will 30 more than
any other toward enriching every planter
VINO has the courage 10 perslsJonl4Y lol-
low them. 1t would not be a dlf8cult
thing to prove that the opposite course
Is q ~ruinCus one. We have only !
10 look a few months behind
To see how fatal has been
the policy OF holding for higher prices.
Suppose YOU who have sold within the
last few days your middling cotton at Is
cents, that you Lad taken the offer OF Y
cents made you four months go, would
YOU not feel much richer with the twenty
i've dollars per bale excess than now,
after your largely increased expenses
both upon the cotton and the debt which
1t was expected to pay? All these are
pertinent inquiries, although they may
be dissgreeable ones. We must grsPple
with facts. Let them, in conelusiOn-tbe
plautsrs-4dopt the plan Of growing and
putting up for market their cotton with
al the most approved methods. Let them
sell as fast as ready for market. Let them
nav As promptly as they sell the mer-
chant who has advanced to them the
means for its growth; and with this sys-
Lem generally adhered to, we can scarcely
expect again to bear Of serious calsmi-
lice to planters in connection with The
decline OF the precious product.
WA. r. MOORE.
The above communication relative TO
the wisdom of paying a. you GO and
trusting to not over sanguine c~alcula-
lions. j. worthy Of respect for its sound,
practical advice. We are not sure, how
ever. thai, speaking from his city throne
Of superior Eight and intelligence, and a.
tending TO the up and downs Of The
markets, he does not undsrrate the OK
tent OF aulufLAALAol anu AAeclAAAeAGE VI
the planting community a. 70 its wi
specially. The planter has abundant
time Tor reelection on ths particular aYO-
cation ia which he is engaged; and why
the factor, who's business ig Is merely 70
watch the existing condition Of the mar
and sell cotton FOR NlaI ~ Viii bring, /
ghC,lE jndge future prizes better than
20 - - somewhat dificult OF eXpia-
80" Ind ID, following Mr.. Moore's
.Jyfcs and sellii,g cotton as fast A. II can
he picked out, calls for no Intelligence
and NO thought whatsoever. IN nat cast
il il not necessary TO get the factor 70 40
his thinking, and a fool will do aDolg ab
well for a factor a. the wisest man. bar
ring an dishonesty, which is confined 70
no class. and a somewhat too common
disposition TO extend credit without Jun
Gent certainty Of the means OF being
u~uuccual, and the influence Of having
i..eu accustomed TO long credits, VIC lhlbK
Inc main cause of difference OF OPINION
between the planters "a merchants Is q
conflict of iuIerest-one wishes 70 real
ne y at prices high or low, and the other
10 withhold sales st low prices Mer-
chants want their commissions Tor mme-
diste operations, planters their proceeds
only for another crop. One Is greedy tOf
C-esb nro6ts; the other, knowing bis cot
IN IL yold whenever he chooses 70 part
Win il. il often unwisely deliberate, ana
,vilIing 10 make haste slowly. Win al
ms The result has nothing TO dos and,
a. ID takes a prodigiOusly wise man. of =
wonderful fool. 10 tell the price 81 cot
- - a.-a abaad wa think IL Is h2ndi