Vicksburg weekly herald. (Vicksburg, Miss.) 1868-1883, 1870-05-28

TIMELY MARNNG.

- . sANEHNG |
Tie cotton crop Of the country
will soon be exhausted, aud with
II our monied facilities. Before
midsummer everybody's credit will
Ue straiiened to the utmost, aud en-.
gagements maturing in the carly
autumn will be entered into very
freely. The debt will be a very
large one, and any financial dc.
raLgement Ct the North, where the
money Of the country finds Its way
as our seasons business closes, will
cause 4 low range OF prices for cot
ton AZ the opening Of The season.
Tie money pressure at the cot
ton ports last fall, gave buyers a
great advantage, AMI but for the
good trade enjoyed by English
%,pinners, which encouraged them
10 buy freely, We should have been
compelled TO submit TO prices
which would have been ruinous.
The English spinners cannot af-
ford 20 do without stock, and cam
not afford to let prices sink 10 q
lower point than they are at now,
un;il they feel that the production
OF cotton has reached a pOint that
renders encouragement u%nneCessa-
ry. Maybe, they viii, take the high
estimates Of this season-thrcc aud
a half to -four millions bales as the
promise Of the crop now growing,
aud, and though they may continue
10 buy at present rates In order TO
stimulate to activity in the new
crop, when the gathering season
has been reached they may sudden
ly change tactics and join our good
friends OF the North In the ef.
tort they are sure to make, 10
break the market down, and
with our heavy maturing debt
can they fail IN their effort
OF two things we may feel assured
to write of a very long debt. and
Of a determined effort 10 run price,
down TO q low point. And 1t may
be safely affirmed, with greater
+ prospect of C than last season
Why? Because the debt will b
longer : English spinners will fee
more secured than they did las.
!, year and because money will b
even scarcer this than last season
secured as II was then, and beforI
the first Of October all Of the credi
of the South will have gone out Q
I II for Injuries and for the necessl
: ties Orlife.
Our people Ss q rule know liter
ally nothing about the lave q
I, trade, and are total strangers to tn
> idea Of adopting a policy TO NEE
4 an impending danger.
4 They are as quick 10 comprehen,
as any other people after they hav
(. seen, but unfortunately they woR
see, that is they won't take tn
q time to inform themselves. No,
r can they do anything to avert Il
impending calamity They can q
much. and might wholly prevel
II, BY, in the first place, instead
|. Straintng their credit, restrGinir
N It. And secondly, by putting o.
cry dollar Of idle money abOI
a them into some place where Il wi
be used. II planters adopt the pc
I. icy Of keeping money in their pool
a cts, they will cripple trade, On
render It all the more certain tn
those who control money TO bu
cotton will control payers. II
If moment money can be had fro
Ie other sources, they loose that col
,e troll.
1t is gratifying TO know that Il
At policy herein indicated and befoI
m urged frequently by the same PEI
IA well as that Of the editor Of Il
IL HERALD, has been adopted by son
N OF our planters. One very cOnsit
Ne cradle deposit has been withdraw
A. from the leading bank in New U
" leans 20 be deposited in q bank
ID Vicksburg. Our banks are feelii
Ne the Influence OF this partial chan
n. of policy. III Il were the rule !
stead Of the exception every int
d, est, especially the planting, wou
IL feel it TO an extent not 10 be owe
estimated. 5.