New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-02-25
ADVANCES TO PLANTERS.

Sometimes the Chamber of Commerce
in New Orleans makes its movements IN
the right direction, and then again it falls
into ways that are not defenslble. AS,
for instance, in its support OF the PROPOSE
ton to sustain voluntary inspection in
all articles of commerce such as cotton,
sugar, molasses, pork, ETC., and in its op-
position to the law which required these
articles to be inspected, whether or no,
the chamber was right and practical in
its policy. In other matters, probably, 1t
has not been fully alive to all the move
ments in State and city legislation that
affected commerce; but as the members
have not probably been agreed on these
questions, and the chamber being ousl-
ness more than debating concern TINS
failure to act may be accepted as part
of its nature Where men meet IN VOL
untary company for the purpose OF DIS
cussinp the movements of trade, it is not
expected that the exciting questions that
disturb the public will come up for dis
cussion. The chamber would soon be
rent in twain if it set about discussing the
merits Of the two parties or the values OF
legislative bill in which the members
might be interested.
The chamber, however, discussed one
question of legislative consideration,
and its conclusions do not seem to suit
the .Meridional, of st. Landry parish.
In opposing public administrators the
chamber affirms that these officers are OF
such a questionable character, and OF
such novelty in our system, that the
planters are denied the same facilities in
securing advances that they had before
| The commission merchant feels less Sc
cure of his advances when the estate OF
his patron is liable to fall into the hands
of the public administrator in the event
of death, than if it took the course
hitherto known to our law. Without
discussing this matter in regard to the
preiudices of brokers, let us get at the
point which the Neridional makes, and
which seems to strike us as pertinent and
proper If the appointment Of public
administrators, or the doing Of any other
act, will destroy or modify the system OF
advances, the more We have Of them
in this State the better. Nothing
would be better for Louisiana than
| to have the credit and the advance system
broken up entirely, and whatever measure
tends to accomplish this result is entitled
to respect and support. SO long as men
can engage in business by mortgaglns
| what has not been produced, as they do
when they borrow money on prospective
crops, they will be paying interest that
will destroy them, or the broker Will be
charging usury that will smash him by
smashing his creditor. It was probably
well enough to maintain this advance sys-
TEN when slavery existed. and when the
borrower had his negroes and his farm
free of rent; but since labor is now to be
paid for, and can quit is it is not paid, the
planter is at the mercy OF the weather,
the floods, the want Of funds and the sud
den desertion of his hands.
In fact there is no agricultural comnu-
pity that labors under the same 0lsadvan-
tages that affect ours at present, and the
security given on the coming crop is the
weakest that man can give or take. Be
sides, it leads to unhealthy speculation,
parties procuring advances and entering
upon large undertakings without fully
preparing for all the contingencies OF the
season. But the worst objection to the
principle is that it fosters the system OF
usury, planters paying high commissions
and putting themselves entirely IN the
power of the commission merchant Il
would astonish q free and thrifty man te
see some OF the bills that result against q
consignment Of cotton after the tarnel
has secured advances during the summer
And then, if the farmer would know it
all the goods he was charged with hae
paid his merchant five or ten per cen
through the dealer who sold them
Verify, if advances were understood Their
would be few solicited.