The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1870-12-30
This year the crop OF cotton is, save it
bathet of -l66Os doubtedly. as largo a

IQl6 year the crop Oh COttOu ID, save IL
be that of 1Se0,-andeabtedly- as largo a
ssS sssssh ssabi.ssh5 IL bn.sls i .slt,
eqaal Mat Of 1880 Pfobpbiy bully hall Of
thas raiaad Ills been apqn Tie share sys-
tenn. The planters, negroes, and all,
have run in debt, and the merchants have
trusted all with prodigal hand. All
this has been done in expectation of a
good price for cotton. It turns out to
be very low as compared to that calcu-
lated upon. Taking the, whole of the
nearly, Il S6t adite 'S e $dSS, has has BEEN sas
advanced upon the crop, In the way of
supplies, as can be realized thereon.
The consequences may readily be ima-
gined. The planter, finding himself no
briter, even worse, on than q year ago,
and reckless thereby, is too apt to ignore
his creditors and give them the slip, by
sending his cotton elsewhere for sale.
The black, seeing no reason why he
should do better than the white. finding
mis- share will bring him barely enough
to leave him where he started, perhaps
leaves it unpicked and his creditors to
whistle, while he picks out the crop of q
neighbor for pay. Nor is it, indeed, the
crop Of the black ;alone that Is left
nnpicked, On the 6onttars, asI 'haye It
from the merchants, the blacks, as q rule,
pick out and bring in their cotton far
moro promptly than the whites them
selves.
Between the two. however, from rea-
sous like these, and the fact of the crop
being very large one, there is perhaps
twenty per cent. of the cotton that will
r1npiol-oI frka
chant, very naturally, is making despe-
rate efforts to make himself good. This
explains the fact, which I have heard
commented upon by travellers as passing
strange, that at all of the inland towns
along this road higher price is being
paid for cotton than it will bring in New
Orleans Upon the same principle that
tho cotton planter readily consents to
pay almost any price for supplies with
which to make his crop, the merchant
consents to pay almost any price for the
cotton with which TO make himself
whole. That either will make them
selves whole very much doubt. Con-
sidering his extraordinary profits, per-
haps the merchant may-the more espe-
clally 30 as he has in most instances, in
addition to lien on the crop, one on
the farming stock as we'll. That the
producer. however. will fare as we'll, I
cannot believe. On the contrary, I can
we'll believe them worse off than they
were year ago, in that their credit must
OF necessity be much impaired by the
experience of those to whom they must
look for supplies.
My own conviction is that the South
is absolutely the poorer to- day for the
last crop raised, as it has been lite
rally enten up in advance. For all this
can see no hope. save in a complete
and final revolution in the whole system
OF planting. This credit system, to be-
gin with, is the greatest curse of the
South. Just 30 long as the planter can
command credit, just so long he will
continue to overrench himself in gam
bling on the coming crop, the least
failure in quantity which must, of neces-
sity, PROSTATE the whole interests of the
country.