New Orleans Republican., 1872-12-28
EDITORIAL CORRESPONDENCE.
PLAQUE8INEs PARISH, December2t, 1872
pLAETERS, COntPLAINTs.

4S+taA@NA@o
PLANTERS COMPLAINTS.
Among other items Of expense of which
| tie sugar planter complains is the cost of
| factOrage. Under a former system the pur-
chase of labor rendered money credit in
| dlspensable to the producers of cotton or
| sugar. The factors Endorsement Of the
| planters bills obtained money from the
banks, and the repayment OF the loan by
| foreign or domestic exchange drawn against
| the crops gave the banks a control of East
| ern funds, which they resold to those hay-
| ing payments to make at the East. There
| were incidental profits On factorage which
| followed the accommodation of these loans
| They were commissions on the whole crop
CT the indebted planter. There was sub
commission, perhaps. on the supplies pur-
chased for the planter, and it may be a re
bate on the insurance of his crops.
The investment of the loan in property
gave increased responsibility to the
planter, and these incidental profits
of factOTage were in effect a pre-
MUM on the hire of money. There is
not, Of course, the same safety in such ad-
vances under the present system. They
make the factor, in fact, partner with the
planter; indeed, it places the factor be-
tween the planter and capitalist, and com
peis him to carry The planter, provided the
crop should fail in weight or price. This
increased risk on the part of the factor has
caused prudential change in his mode of
dealing, His acceptances are not at as long
dates, nor does he perhaps incur as much
responsibility for supplies. The country
merchant in the cotton States has assumed
a new character He obtains advances
from the factor, and consigns the cotton,
for which he has exchanged goods, to be
sold on account. The country merchant
takes the risks which the city factor for
merly did, and secures himself By his
intimate knowledge of the RESPONSE
bility OF the planters and labor.
ers who surround him. But with
this change comes an anxiety of the planter
to avoid all charges upon the sale of his
crop, nor can he in all cases see why there
should be the difference Of commission be.
tween what he receives and what the buyer
pays. The law ceases with the reason for
its enactment, is the doctrine of the cOIn-
mon law, and if the advances On account Of
the growing crop are no longer obtained
il is but patural that the planter should
desire an abatement OF all incidental
ohargoO imposed as consideration of an
aid no longer afforded Some sugar plant
ers are therefore falling back on the system |
of produce sales prevailing elsewhere. q |
broker is employed who for perhaps one per |
cent On gross sales, sells the crop and pays
the proceeds to the planter. lie in some |
cases deposits the money to his own credit
IL bank, and checks for his own purchases
There are some obvious advantages in this
pia0. There is, on an average, superior re-
sponsibility in corporate institution. A
man having the cash in hand can buy his
1wn supplies cheaper thar if he employed
an agency to do so. There seems nc ex-
ended disposition to change the svstem of
produce sales which has 80 long prevailed
still, the endeavor to save every dollar of
expenditure may induce the planter to see
whether public warehouses, classification.
and sale, by samples, as prevails
Il tho merchandise of wheat, Hour bacon
nd tobacco, and, indeed, in the sale of
ottOn in some interior towns, may not
ayor his interest. In the great labor
hange every incident must adjust ITSELF to {
xisting interests, and no one can safely i
ay that this or that custom connected with
taple cultivation will be exempt from
lteratiCno ?