Newspaper Page Text
Rome, Floyd County, G a.
~~ “ : . . u mc two I enable them to dischi^tlisroito-^:
Meeting of Merchants of Rome!
advised to issue Certificates of
Deposit. AA M
the banks. If A. has at one I
thousand dollars in bank, and 1
The Wxicklt Courier is issued
EVERY WEDNESDAY MORNING,
At No. 23 Broad Street.
M* Dumell ....Editor and Proprietor
B. V. Sawyer Associate Editor.
WEDNESDAY MOR’NG, OCT. 1, 73
Walk lip, Mr. Planter, and Scitlc.
The resolutions adopted by the meet-
in" of merchants yesterday, calling
upon the farmers to bring in their cot
ton and sell it at a fair price or leave it
with their creditors, while at the same
time glossing over the suspension of
the brokers’ shops for ninety days, is
decidedly the coolest feature in this
whole financial frost.
Why not call upon the iron men to
bring in their pigs, and the bankers to
unload their stocks and their gold, and
the merchants their real estate, as well
as the farmers ? Our advice to the
farmers is, to suspend for ninety days,
too.
The Crop Corner.
A writer in the Selma Times thus
plausibly tells “ what’s the matter with
Hannah.” We partially agree with
him, and heartily approve his advice to
the farmers to keep a.stiff upper lip
. as much right to suspend for ninety
days as the shaving machines who are
hoarding the money:
“ Somebody and his co-conspirators
in wickedness have made a crop comer.
The financial crisis lias been deferred
to the last inch of harvest time. The
golden harvest of wheat and corn of
the West, and the white fleece of the
snowy fields of the South, are just
ready, for the market.
“If there is no pressure on the com
mercial artery, the circulating medium
will flow naturally and healthfully, and
fair prices will be obtained for produce.
The country will move on in the even
tenor of its way, in quiet and rest in
the assurance that there is bread enough
in the land. No great fortunes will be
made, and there will be no crushin
disasters.
“This would not do, could not he.
The money kings of the North and
East must make the people—the many
small ones—and the Government feel
their power, and the men who made
‘ Black Friday’ have found worthy sue
cessors in the men, whoever they are,
who by the waving of a wand could
cause the banks of the country to fall
like so many tenpins.
“ There is a purpose in all this, hid
den though it be. It is no accident. It
matters not how it has been done, cap
italists for the purpose of manipulating
the crop, West and South, have con
trived to withdraw the currency from
circulation by checking out their de
posits and storing them away.
“ They meant to occasion stringency
—pressure in the hanks. This would
force the banks to call in their loans
under threats of protests; the mer
chants by means of their mortgages
would compel the delivery of the crop;
the buyer was then to be ready to avail
himself of a glutted market. Cotton
would decline until it could be bought
for ten and twelve cents, and afterwards
sold for twenty cents.
“ The work was too well done. They
meant to cause stringency; they have
produced bankruptcy.
“ Will the farmer submit to be vie
timized ? If he does he will meet the
wicked men half way in their purpose.
Better the banks should suspend and
the merchants.go to protest, than for a
few bad men tn (ret. the ontiro labor of
the.land for a song What is commer
cial credit when starvation stares us in
the face?
“ Bread! Bread ! The cry of bread
has destroyed government—kingdom;
and shall our people, already robbed
and plundered without a parallel, be
led into this financial slaughter pen,
like sheep to the shambles? Lot us
come up to the help of each other
against the mighty and oppose money
power by moral and legal force.
“Money will be here in ten days to
buy your crop, not at your price—not
at its worth, but at the price fixed by
your necessities. Let the. merchants
who feel that they arc almost ruined
make common cause with the farmers
who are ruined, world without end, if
the accursed mortgages are mercilessly
enforced.
“ You can endure this sixty, a hun
dred days, even if you are reduced to
bread and water. Then be the men you
have been, to endure hardships, and
privations for what you believed to be
right and your rights, and out of the
danger now so appalling you will reap
a harvest of good.”
Deatli of Miss Rowell.
The friends of Miss Jennie Rowell,
in this city, will regret to hear of her
death, which, we learn by private tele
gram, took place at her home near
Florence, Alabama, on the 27th inst.
Miss Rowell will be remembered as a
beautiful and accomplished young lady,
the sister of our fellow citizen, Capt. C.
Rowell, who visited our city several
times during the past few years, and
who by her amiability and gentleness
won many warm friends in this com
munity. May her rest be peaceful for
evermore.—Commercial.
The Cause, and the
aty-.
The Columbus Sun is informed that
a New York house proposed to estab
lish a branch house at Opelika, but the
late killing in that city, and more es
pecially the duellistic correspondence
which has grown out of it, and rami
fied in most unexpected places, and
called in persons who had no possible
connection with it, has caused the New
York firm to withdraw both their cred
it and money from such an undertak
ing.
They argue badly for business from
existing circumstances.
A negro at Union Springs has been
committing some outrageous robberies
and assaults on store keepers.
Rome, September 29.
Pursuant to call, a large meeting of
the merchants, business men and citi
zens generally of the city of Rome
was held this morning in the City
Hall. *ofr>
On motion, W. F. Ayer was called to
the chair, and J. F. Shanklin made
ecretary.
Capt. C. G. Samuel was requested to
state the object of the meeting. The
gentleman, in a few words, reviewed
the financial situation of the country
and its probable effect upon the mone
tary interests of this section, and urged
upon the people the importance and
necessity of sustaining the banking in
terests of Rome in all tlieir efforts to
weather the financial storm.
The following gentlemen were ap
pointed a Committee by the Chair, upon
motion of Dr. Hillyer, to draft suitable
resolutions:
Eben Hillyer, Wni. Jones, J. W.
Rounsavillc, G. W. F. Lamkin, A. T.
Hardin, W. T. McWilliams, It S. Nor
ton, C. G. Samuel, D. E. Hoff, U. V.
Mitchell and C. II. Smith.
During the absence of the committee,
•~cj wn'B orlilrnccrwl "MV T aiVP..
of Savannah, Capt. Glover, Mr. Bones,
and others.
The committee returned, and report
ed the following address and resolutions,
which were unanimously adopted:
To the citizens of Rome and its vicinity:
The extraordinary situation of com
mercial affairs induces us to address
you, with a hope that a true report of
the monetary condition and the causes
of the crisis may allay excitement and
prevent an exaggeration of the evils
that now seem to beset us. We desire
to assure you that so far as Cherokee
Georgia and Alabama is concerned
there is no real ground for alarm; and
if the people will do right there can lie
no real distress.
The agricultural and mechanical
products of a country or section repre
sents its commercial wealth and pros
perity. With two abundant crops and
two years of profitable manufacturing,
this region of country cannot be other
wise than in a sound commercial and
financial condition. Our people have
not embarrassed themselves by gam
bling in stocks or by wild and reckless
speculation. %
The cotton crop of this region is
nearly at hand, and will be worth sev
eral millions of dollars when ready for
market. One half of this may be con
sidered as net profit, and that amount
added to our material wealth. In or
dinary times this profit would be real
ized in money, but in the present emer
gency there is no money to measure its
value or to move it to its destination.
The seven hundred millions of cur
rency which has been accustomed to
move and exchange the products of t.h
country, has been for a time withdrawn
from its usual channels. It is nearly all
idle—either in the vaults of the hanks
at the North, or in the pockets of the
people.
The cause of this inaction is not so
much from any real disaster as from
general distrust. The body is healthy
and vigorous, hut the blood in the ar
teries hasceased to flow. The millions
that were on deposit in the Northern
banks have been drawn out, and those
who drew it arc quietly waiting for the
panic to subside, and then they will
put it back again. It would subside
immediately if they would put it back
immediately.
At times when money is moving so
rapidly among the people, onehundred
dollars is sufficient not only to purchase
a bale of cotton but to liquidate and ad
just a thousand or perhaps ten thousand
dollars of indebtedness in a very short
time. A. pays it to B.,and B. to C., and
C. to D., and so on; but if the one
hundred dollars cannot be had, the bale
of cotton cannot be purchased, and the
notes of A., B., C. and D. are dishonored
for nonpayment.
Now, with those who are not gov
erned by commercial rules, the dishonor
of a note makes but little difference.
The farmer tells the merchant he can
not pay him until he sells his cotton,
and that is the end of it; but if a mer
chant fails to meet his note in bank, he
loses caste. He loses rank, and he is
set down a little lower in commercial
circles.
It is still worse with a bank. Its in
fluence and responsibility is much
greater than that of a single individual.
Banks are entrusted with the greater
portion of all the currency of the coun
try, and the failure of a bank to pay
punctually very materially interrupts
commerce, and brings financial ruin
and distress on a large number. But
at the last a hank that fails to pay does
no more than an individual—does no
more than thousands of individuals are
doing every day.
When a good-solvent bank fails to
pay, it is called a suspension. These
suspensions are generally the results of
a panic, and this is now the situation
of things in our community. At this
particular time of the year, when last
year’s resources- have been expended or
invested, and this year’s crop and pro
ducts are not yet realized, the mer
chants, manufacturers and planters are
always accustomed to borrow from our
banks such sums of money as will en
able them to fill up the gaps.
If a man owes in market one thousand
dollars and has but six hundred,he bor
rows four hundred from the bank. If
the farmer needs a few hundred dollars
to pay off his hands and get in his
crop, he borrows it from the bank. It
is the legitimate business of banks to
afford these accommodations. It en
ables the people to fill up the gaps. So,
after the banks have loaned out all
their own capital, they are accustomed
to lend out a good portion, of tlieir de
posits.. •
There is nothing wrong in this when
it is fairly and prudently done. Depos
itors expect their money to be used by
will be
jej
ohunS&edin
A., who has none, wants to borrow a
thousand. Wlicn.a hundred men are de
positing in this way and getting occa
sional accommodations it enables all of
them to get along and promptly meet
their obligations.
Now, if a banker or a broker lias an
average deposit of fifty thousand dollars,
and presuming on business going on as
heretofore in healthy channels, anil rely-
iod crops, lends out twenty-five
thousand dollars of his depositors’ money
into safe hands, and on undoubted secur
ity, there is nothing wrong, yet if all the
depositors come at once for tlieir money
it is very evident they cannot get it.
Again, suppose a bank discounts a ten
thousand dollar draft of an iron compa
ny. The draft being drawn at sixty days
light on a number one iron house in Cin-
■iiniati, to whom more than enough iron
or nails or car wheels has been shipped to
pay the draft when it falls due, that ap
pears to be a very safe operation ; hut if
the sixty days matured last iveck, and the
Cincinnati house could not pay it because
of the panic there, the bank would for a
time lie out of the use of that sum which
it confidently relied upon to meet its own
checks. So when a number of these
appointments come upon a bank all at
once, it must for a time surrender, not
withstanding its assets be ten times it-
liabilities.
And when the banks suspend, the
merchants and the manufacturers must
do likewise. The farmer may have
cotton ready for market,.but if there is
no money sent out from the North to
buy it lie will for a time feel very poor,
although lie may really be rich. If lie
owes only a hundred dollars he can’t
pay it. And this is precisely the situ
ation of the banker and the merchant
and the manufacturer.
The merchant could pay in goods or
in notes; the farmer could pay in cot
ton; the manufacturer could pay in
iron products; and the banker could
pay in good men’s obligations; but
none of these are money, and therefore
will not be received. The money is
not in circulation. It has been for a
time actually withdrawn from circula
tion, and cannot be had, and in this
present crisis it is not the fault of our
people.
There lias not been a time since the
war when the condition of our people
was so solvent and so hopeful. We
have abundant cause for gratitude, and
but for this unforeseen arid unexpected
calamity, would have felt that we were
almost entirely n stored to th it pros
perous condition which we boasted of
before the war.
One thing, however, we must say to
our people: it is in vour power now to
do a great deal of barm or a great deal
of good. While the blood lias ceased-
to flow in the system, other avenues
?>f circulating and exchanging the
products of the country must be had
Our iaborcis and mechanics and tlieir
children must be fed. There are about
one thousand now at honest work in
our foundries and furnaces and man
ufacturing establishments. Tin; prod
ucts of tlieir industry are turned out
every day, but pending this crisis they
cannot be sold. Meat and bread must be
liad to sustain life. Heretofore much of
this lias been bought with money from
abroad. Now there is no money, and
such is the general distrust that Northern
and Western dealers refuse to ship with
out money.
We therefore call upon our farmers at
home to come up like good men to the
rescue of tlieir own people, and sell to
them. You know these institutions are
governed and owned by good men, and
that these men are abundantly able to
pay, and will pay as soon as money cir
culates again.
This cannot last long, for the North,
though mighty and powerful, is obliged to
have our cotton, ahd before long will
make some arrangement to move it Un
til then we call upon every man who can
do anything to prevent distress and keep
the wheels of business moving, to do so.
We confidently believe that our peo
ple are made of the right metal,
and will cheerfully respond to their
whale duty. To the laboring classes
we must say that no greater misfortune
can befall tlicin than for them to refuse
to co-operate with their employers at
this trying time. Six hundred hands
have been discharged from one estab
lishment at Richmond because there
was no money to pay- them. Now let
our laborers and mechanics exact noth
ing but the necessaries of life—their
meat and bread—-and let the balance of
their wages remain over until the cri
sis is past and confidence be restored.
And to all we say frown down every
effort that is made by the heartless and
the grasping to reap personal advantage
out of the necessities of our people.
Resolved, That considering the pros
perous condition of this section of
Cherokee Georgia and Alabama, we see
no substantial grounds for panic or
alarm concerning the money crisis
which is now passing over the country.
Resolved, That pending this crisis we
cannot foil to recognize the comforting
facts that oar merchants, manufacturers
and city bankers, were good and solvent
before the crisis came, and are just as
good and solvent now.
Resolved, That so far as this commu
nity is concerned, we have no fears hut
that the obligations of our commercial
men and of our hankers ahd brokers
will all be met within a short period of
time, and wc advise all who hold their
obligations to remain passive and con
fident until finance at the. North re
sumes its accustomed channels. As
soon'as currency begins to circulate,
then the abundant assets of our people
will draw.its just proportion here.
Resolved, That we advise our bankers
to issue to their present depositors cer
tificates of Indebtedness, bearing inter
est at ten per cent., payable in ninety
days, and receivable, for the .dues of
the holders of the same to the banks,
and to be issued in such sums as will
ad give
igations and at the same til
porary relief to
•cd, That shl
be issued, we
in them by
ids and mcrchani
them our moral support andJinlluence
having every confidence in the abun
dant solvency, integrity and good faith
of Messrs. Cothran & Jackson, and
Messrs. Allgood & Hargrove, of this
city. _
. Resolved, That for the purpose ofjA,
lieving our merchants arid busini
lnenywe urge ripoft the fdariters-wBo' j
are indebted to them to come forward
at once with their cotton and produce,
and sell at a fair price, or deposit it as
collateral for their indebtedness. If
the merchants have these commodities
in store, it will greatly assist them in
purchasing new supplies and continu
ing their business, they having lost alT 1
advantages' usually obtained from-
banking institutions.
Resolved, That our merchants and'
business men be requested to sign their
names to this Preamble and Resolu
tions; and that three thousand copies
of the same be published in slips and
circulated through this section of coun-
Glad of It.
■We are glad to see, by a recent num
ber of ihat spicy sheet-therGriffin Star,
.that S." F. Fitch has'resumed ills con
nection with it, and is once more in
journalistic harness. ( .
We are sorry to lose Willingham—
and trust.thatettK loss wiR be only
temporary, and that he will soon again
jgke his place at the head of some live
paper; but we are glad to get Fitch
back again. We haven’t had a decent
drubbing since he gave it to us.
try.
On motion of Capt Samuel, three
thousand copies of the Address and
Resolutions were ordered printed.
On motion of Col. Towers, the mer
chants and business men were requested
to come forward and sign the addrea%-
which was responded to promptly. ,
W. M. lV J. A. OanMvl,.
J. &. S. Rones & Co.
Jno. Harkins & Co.
Hari’old & Hillyer.
R. S. Norton & Son!
Rounsaville & Bro.
W. D. Hoyt & Co.
Ayer & McDonald.
Seay & Walker.
Noble Bros. & Co.
Jones & Dick.
Cain Gi.over.
J. D. Carver.
J. R. Carver.
. Jno. Allen, Pres. R. M.I. Cb.
Janes & Yeiser.
It V. Mitchell. .
W. T. McWilliams & Co.
Rosenberg & Bros.
J. H. Rhodes.
A. T. Hardin.
J. R. Towers.
Shropshire & Son.
W. M. Whitei.y. i
Camp, Clark & Co.
"E. C. Hough. ’S*
\V. S. Cothran.
Smith, Son & Bro.
E. R. Smith.
Lansdei.i. & Co.
G. W. F. Lamkin & Co.
M. W. Brett.
J. R. Stewart.
Bird & Foster.
Black &' Caldwell. -*
Patrick & Omrekg.
Hardin it Coiatocgh.
Toud & Co.
1). E. Hoff,
M. F. Govan & Co.
David Adams.
J. M. Elliott.
F. I. Stone.
.Etna Icon Company.
Stonewall Iron Company.
0. G. Samuel. ;
G. W. Nagle. * Iht.
11. a. smith.
On motion, the meeting adjourned.
W. F. Ayer, Chairman.
J. E. Shanklin, Secretary.
Molt Liquor Tar Suspended.
We learn that an order has been is
sued from the executive department
through Comptroller General Gold-
smitn, to suspend- the collection of the
specific tax of 8250, levied upon whole
sale dealers in malt liquors by the last
Legislature, until the meeting of the
next session of the Legislature.
In speaking of this action, the Can-
•stilulimialid of the 23d says:
This snspension of the collection of
an exceedingly burdensome tax levied
upon an important commercial interest
of Augusta, Macon, Savannah, Atlanta
and other cites in Georgia, will, we are
satisfied, be generally approved as an
act of justice, in the exercise of which
Gov. Smith has acted with a commend
able appreciation of the importance of
allowing the misguided legislators an
opportunity to correct their errors.
There seems to be no doubt that the
objectionable law will bo repealed at
the next session of the Legislature.
The (Grangers vs* Hail roads.
We publish on our first page an able
and interesting article from the Atlantic
Monthly, upon the movement of . the
Western farmers against the railroads.
Its hearing upon a subject that, is‘ex
citing so much interest, is our excuse
for publishingit entire.
We commend it to the careful con
sideration of our farming friends. We
have been severely denounced by a few
for our supposed hostility to the granges,
because wc deprecated their war upon
the railroads as unjust It is a matter
of pride to us to have our position sus
tained by such eminent authority as
we present to-day.
Augusta Failures.
The following banks have failed in
Augusta: ' , j *
National Exchange bank, Merchants
and Planters’ National bank, Bank of
Augusta, and Planters’ Loan and Sav
ings bank.
Savannah still holds out bravely,
and it is hoped will safely ride the
storm.
England's Richest Man. ■
When people talk about million-
naires they usually mention Rothschild
first, but there is a man in England by
the name of Ward, in comparison with
Whom any Rothschild is a-qKujper.
This man Ward inherits a vast proper
ty, with accumulated investments-'and
estates, which give him an enormous
income; he has the most magnific
house in London, the finest collection
of art, and the finest country seate ’ in
the Kingdom; his wife is celebrated
for her beauty, and her display of dia
monds at the Accent .festival giveij by
the Emporor of- Austria in Vienna,
made all the other ladies, the empress
es, queens and princesses, look poor.
What the income of this British Creesus
is we have never seen any statement
but a Manchester paper gives an occbiint
of his annual profits derived front his
coal mines, which amount to the enor
mous sum of ±4,900,000. So the in
come from one. source alone of this
inordinately wealthy person is not
much, short of twenty-five millions of;
dollars a year. 3 het oriT . »i
Emerson as a Lecturer.; j. ,1
Jamc-s Freeman Clarke, iff .Boston/
telh-a good story of what a Western:
[former thought of Emerson's abifityasl
a lecturer.
The farmer was on the lycetun con
mittcc of his town. Mr. Clarke^|
him what lectures they hafl ’fl
fore their lyceum.. lie named i
and, among others, fa map.
name of Emerson.” KtatsanrotEs v?
Mr. Clarke asked him howthe
him. 3ai a dnril&ul
■ “Well.”Eaia-"&e,-' “vre had him last]
winter, and; thoughhe Was prettydull,
he seemed to have n good many ideas,
and so we thought we ought to encour
age him, so wc have invited him
come again this winter.”—
Comm(Trial. ' ~
The.
it necessary to
erefo:
B paper
Horace Maynard denies the soft im
peachment that he is interested in a
marble quarry, and also in the contract
for supplying headstones for Federal
soldiers. He pleads guilty, however,
to an aspiration for the' honors of
Speaker of the next House of Repre
sentatives.
It is a cheering sign of the times
that he should disclaim a disposition
to exploit a few millions from the Gov
ernment. Ordinarily such a disposi
tion would be his best recommendation
to Radical favor.
The Lost Polaris*
Captain Sidney O. Buddirigton, sail
ing and ice master of the unfortunate
Polaris, and second in’ command to the
late Captain Hall, the leader of the ex
pedition, has made a statement since
his arrival at Dundee, Scotland, relative
to the separation from Captain Tyson’s
party, and the subsequent experience of
his own party. The following are the
main points of his statement:
In the middle of August, 1S72,1 re
solved to abandon the expedition to the
North Pole. Shortly after the Polaris
began to drift southward. From contact
with the ice she was leaking badly. On
Itie-l&iA—C-ZVifnliar the leakaee.was so>
great that I had a large quantity of
provisions put on the ice.
In the night a gale came up,.and in
a few minutes the ship had parted from
her moorings, and at the same time the
ice began to crack in all directions.
Owing to the fury of the gale and the
darkness of the night we could neither
hear nor see the party on the ice.
Indeed the situation on board was
desperate in the extreme, and every
effort was needed, shortened as we were
of hands, to weather out the night. We
momentarily expected the Polaris would
go down, and she was kept afloat only,
by the greatest exertions and untiring
efforts.
We never saw the party on the ice
after the storm separated us.
On examination the following day!
we found the stem gone below the six
foot mark. We saw the impossibility
of proceeding further, and ran in under
the lee of Littleton island.
We built a hut on the main land at
liiebpat Cove, and removed stores
thither. Here we remained for the
winter. 1
During the winter two boats were
built out of the Polaris, and bags were
made out of the foresail and filled with
provisions* under the superintendence
of Mr. Hubbard C. Chester, the chief
mate, an$ started southward,
After three unsnqcessful attempts, on
account of the ice and heavy sea, we
landeid at' Northumberland island, and
briefly rested.
We then pushed on again, suffering
great hardships, and subsequently
landed at Dalrymple island..
.Again we took to the boots, and then,
after greattrials, had the good fortune
to meet Ithe Rdrenscraig on the 22d of
June. , -_y ’ '
- "
~^r*From the New Yor* Daj Book.
The Independent South and West*
Agricu&ue and mitring are the agents
for the of real property, and
but one thing fo needed to make-the
independent, financially, of all the
sections of the country—that one thing
is manufactures.
The grand trouble in the past with
the Southwas, while her cotton enriched
largely the Northern manufacturers and
the- capitalists, whose wealth was in
ships, there was comparatively little
profit left-itf-ihe pockets of- the South-
em pbmterjfiiB'share was small indeed:
He paid , out^ too much for food and
clothing, while growing cotton, sugar,
rice, tobacco,.tor, tnrpehtine and other
•/sfcl wiM k * 1
ported from other Stg^es, and, df course,
at high cost comparatively. His coat,
iriil bi&jfradMte arfnsbol Bnw
where the wool was
: the North.
aU saddled with a dozen big profits,‘the
Southern planter.pmd for, in’ raw
ducts on wfiHHSraado.but.bue.profit,
and that a small .one, [
Now/; the-South; arq beginning to
leam that the way to gtow rich them-
Oincirnuiti -Selves iSto;!
than ever,
are costly am
ning made,
each decade
where consumption will step in and
claim them, and then that same South
will increase infrnancial strength faster
' ’ je first step®
it the begin-
ufactares started
find : new resources
opening up and capital easier to ob
tain.
The South have already learned that
they can grow their wheat and own
pork, and beef and mutton, to an extent
that will save them millions of dollars
a year, and as they have iron and coal
with their other minerals, the great
staple, nails, they certainly' ought not
to send North for to the amount of a
pound; but we are aware that furnaces,
rolling mills, etc., are now to some ex
tent at work there.
Cotton mills are also found in sight
of the cotton plantations. This is well.
And we hope that the huge expenses
and lack of profit which ever attends
new projects, will not discourage the
bold and honest men who have taken
hold of the enterprise.
What we have said touchi n g Southern
interests applies equally to the West.
That section, strange as it may ap
pear, to-day, raises, beef whose hides
are sent East to be tanned into leather,
to be made into shoes, that are sent
back for Western consumption.
This is a most terrible blunder in the
political economy of that section. So
it is in wool and other ' staples, which
are transported to remote points, han
dled, and stored, ami insured, only to
return to the same West again, to be
consumed, when home manufactures
would not only render her independent
of the East, but would save her tens of
millions pier year in solid wealth.
Naturally, the South and West,
abounding as they do in all the resour
ces of a progressive people, ought not to
be at all dependent upon the North and
East. These scctions.can raise all the
food they need, while at the same time
they can produce all the staples which
cover the entire necessities of life, and
therefore the manufacturing of those
staples, iron, wool, flax, silk, cotton,
leather, etc., etc., should naturally be
at the South, and not at the East and
North.
It takes capital, we know; but capi
tal will always go where the law of
trade sends it. Refuse to transport
Southern and Western products to the
North and East, and, as is the case with
the Western nations in the spice, coffee
and tea trade, consumers will go for the
articles they need to the points where
those articles are produced.
So regarding manufactures, the world
must have them. If cotton were kept
at home, in the South, hnd native hides
in the West, sheeting would in time be
a Southern product, and shoes a West
ern, for the tide of purchase could be
forced in those directions by manu
facturing interests centering there.
As with these staples named, so with
others. The Sonth and West are too
rich in resources to hold the relations
they now sustain to the North and
East
Free Rauklug.
A Washington dispatch says that a
member of Congress who was a mem
ber of the banking and currency com
mittee of the last Congress states that
he shall advocate a system in the next
Congress which will permit unrestricted
free banking, conditioned only upon
adequate bonded security for circula
tion. He believes that banking under
the sole condition of adequate security
should be as open to competition as
any other business.
Clinton L. Merriam, another member
of the same committee, lias expressed
like views with addition of central re
demption.
The member of Congress first above
alluded to states that he is informed
that the national banks will oppose
any considerable increase of national
bank circulation and corresponds
withdrawal of greenback notes; that
the withdrawal of greenbacks under
such circumstances would so hasten the
necessity of redemption of national
bank notes as to utterly destroy the
present profits of national bank circu
lation.
The Griffin News of Wednesday states
it thus:
“ We have been informed that in all
probability a combination will bn made
with the North & South road from Ce-
dartown to Rome, and that the road
bed of the latter will be widened so as
to accommodate the broad gauge.
“ If this is done there will only re
remain thirty-two miles of grading to
be done between Rome and Carrolton,
in Carroll county. We have no doubt
that the absorption by the Griffin &
North Alabama Company of the Rome
end of the North & South road would
be readily acceded to by the city of
Rome, the largest shareholder, and the
other stockholders.”
The Albany News says: We are
much pleased that Mr. T. J. Smith,
Master of the State Grange, has given
out that all the granges in the Cotton
States will be invited to meet in Macon
during the fair week. It is a grand
movement, and in addition to bringing
vast numbers of best planters in the
South to the exhibition, will tend great
ly to the promotion of the objects of
the organization.
To see ten thousand grangers in prof-
cession would be a sight worth looking
at, and the interest of the fair associa
tion would be immensely enhanced by
their presence.
The Springfield Republican remarks:
“There is some growling among Gener
al Butler’s backersat Worcester because
he abandoned his fight so completely
and so suddenly. He led them to the
very cannon’s mouth, and then jumped
over'into the enemy's camp himself,
leaving his followers altogether to their
fide. Here in Springfield, as illustration,
the Bntlerites are sheep without a
shepherd; they cannot well go over to
the Democrats and free ram, and they
con never recover their former positions
in the regular Republican camp, and
must not hope to do so.”
A Golden Opportunity.
In a recent number we suggested the
opportunity presented by the New
York money crash for Norfolk, Charles
ton, Savannah, Mobile and New Or
leans to profit by the confusion and
inaugurate a system of direct trade
with” Liverpool that would hereafter
control the cotton exports. The same
golden opportunity is now offered the
granges to test the practicability of
this anti-middlemen theory.
The middlemen are now out of the
way; they have no money to buy the
farmers’ cotton, and now the granges
can step in and practically illustrate
the benefits of their theory. They
curse the middlemen as speculators
and vampires. The vampires are shut
off now; and wu will see what is to lie-
come of the cotton crop. The spinner
is the only man who lias the money to
buy the cotton, and he will buy it at
his own price.
We would not lie surprised, after all,
if the middleman was a better friend
to the farmer than the spinner will
prove. At any rate, he greatly helped
the farmer in his fight with the spinner
for good prices, as can readily be seen
by the low price to which cotton lias
dropped since the middlemen lmve
been choked off.
The Grand Lodge of Good Templars.
From the Augusta Chronicle and Sen
tinel we have the proceedings of the
Grand Lodge of Good Templars of the
State of Georgia, late in session in that
city;
We find that the following officers
have been elected for the ensuing year:
Rev. L. R. Gwaltney, of Rome, Grand
Worthy Chief Templar.
Marcellus I*. Foster, of Augusta,
Grand Worthy Counsellor.
■ Mrs. J. G. Thrower, of Atlanta,Grand
Worthy Vice Templar.
Samuel C. Robinson, of Rome, re-
oloeted Grand Worthy Secretary.
Eldridge, of Cobb county, Grand
Worthy Treasurer.
M. M. Landrum Grand Worthy Chap
lain.
On the question of secession from
Right Worthy Grand Lodge of the
World, on account of negro affiliation,
the following resolution was passed:
Resolved, That until such conference
can be had and concert of action he
agreed upon, this Grand Lodge suspend
all affiliation and connection with the
Right Worthy Grand Lodge of the
World.
From tbo Auguala Chronicle and Sentinel.
Henry Clews & Co*
Henry Clews & Co. have gone down
amid the disaster and wreck of the
storm which is sweeping over the
stock jobbers and gold gamblers of Wall
street. The name of this firm is fami
liar to the people of Georgia. It will
be remembered by those who come after
us—not, however, for the good that it
lias done, hut but for the infamy asso
ciated with it in evil deeds.
As Governor Jackson, in the good
old days of purity and honesty, drew
down fire from Heaven which con
sumed the evidences of the Yazoo
fraud, so the hand of retributive justice
has overtaken the ungodly plunderers
and thieves who have been feasting and
rioting in the money wrung from the
oppressed and suffering South; and
Clews & Co. are among the number.
We rejoice not at the misfortunes of
honest men, no matter how wide
apart we may differ upon political and
other questions; but we do rejoice
when the magnificent swindler and suc
cessful cheat is overreached, and caught
in the trap set by his own hands for
the capture of the unsuspecting and in
nocent. Little did the stock jobbers
and bond brokers of Wall street think,
when purchasing the promises to pay
of carpet-bag governments, that they
were sowing the wind which would
reap them a whirlpool of destruction.
But the day of reckoning has come
sooner than expected, and, like the
thief in the night time, caught in the
act of his crime, fear and trepidation
and shame and confusion, overwhelm
them.
Who in Georgia weeps for the failure
of Henry Clews? No tears will be
shed. No heart will sorrow. No sym
pathies will well up in the breast of
Georgians. The prince par excellence of
bogus bond negotiators, the instigator
of the Bullock fraudulent bonds, and
the friend and supporter of KimbaU
& Co. in all the rascally manipula
tions for swindling the State during
the carpet-bag regime, his failure will
cause no regrets in Georgia.
From the Savannah to the Chatta
hoochee—from the mountains to the
seaboard—the hearts of all true Geor-
gains rejoice that Henry Clews, who
aided in robbing the State by the nego
tiation of fraudulently issued bonds,
has gone down in the WaU street whirl
pool, never, let us hope, to rise again.
The financial agent of the State, during
the administration of Bullock, the
house of Clews & Co. negotiated
the bonds of the carpet-bag Legislature.
And now, verily, they have their re
ward, and who of us will gainsay that
it is not a just and righteous one?
The miU3 of the gods grind slow
ly, hut surely; and Clews & Co.
have been crushed between the upper
and nether millstones.
And this is what the Columbns En
quirer says about him:
“Henry Clews has gone up.” This
expression is being ntteTed to-day
throughout Georgia with no little satis
faction ; for while all regret the recent
financial troubles, and Jay Cooke has
the sympathy of the countfy, the peo
ple of this State particularly feel that
there is a retributive justice in the fall
of this unprincipled man, who made
mnch of his ill-gotten gains from an
impoverished and conquered people.
He was the jackal that fattened on
the helpless, and without feeling, saw
his companion Bullock plundering the
State for the benefit of both. They
made money, they piled up Georgia’s
debt, and they thought themselves for
ever secure.
“The mills of the god’s grind slowly,
but they grind exceeding fine.” Bid-
lock to-day is a penniless fugitive, who
he once lorded; and BnXf*
his colossal fortune - C
air, and instead of symZvL'H
grets, he hears the plaudits of ^ 1
he tried to ruin; and now flU*!
down the “served himfiS^j
gians will be taken upbrtL
land. J Uie *
After all, it pay 3 to do as
as possible, even if it does noth! ^
great fortune an opposite com!^
promise. 11
A outlier Railroad Fraud
Henry C. Semple, Esq"^*
for the holders of the first,
bonds of the Mobile & J[ 0 “,
Railroad Company, has fil^
Chancery Court, in this count/
of foreclosure, anil asking for,’
the railroad to pay the $230rji
first mortgage lionds, the hJ
which the road lias failed to '
November and May last
We learn there is also a
gage on the railroad track anil
ments, and a first mortgage on 11/
donated by Congress. We are.,
say that neither of the mortgage j
vide for the payment of the * J
the employees of the road, a.T
bill filed does not seek to raah
provision for them.—Montgomm
nal, 23d.
Cgl
:tion fc
Teunessec Slotk S«|e.
The joint sale of Mesas.
Brown & Cockrill Brothers took
at the fair grounds at NashvDlej]
on Thursday, the 19th inst.
horses.
Blood Chief, jr., hr h a year,
8380.
Amount, jr., b c 3 years old,
Storm, b c 3 years old, $200.
Ideal, blk c 2 years old, Mr. }j
Columbia, Tenn., 8100.
Elliston, gr c 2 years old, J.T.
Nashville, Tenn., 880.
Idler, s c 2 years old, ThomasB.
son, Davidson county, Tenn.,
Jenny Bell, blk m 8 years oil
Dunn, Nashville, 8125.
Twin Fillies, bay and grey, 5
old, 8300.
Vista, gr m 4 years old, $19).
Ida, s f 3 years old, 8200.
Ella Barker, blk f, 3 years old.
Belle Dean, b f, 2 years old, jbj
Bay Filly, 2 years old, $90.
Bay Filly, 2 years old, 870.
Bay Filly, 4 years old, $155.
Sorrel Gelding, 3 years old, HI:
Income, b h, 4 years old, $270.
SHORT HORNS—BULL!.
Pat Maloy, red, calved in 1867
Calignia, red; 825.
COWS AND HEIFERS.
Pocahontas, roan, calved in 1SS
Beauty, roan, calved in 1871;
JERSEYS.
Xerxes, bull calf, calved FA
825.
Xanthiffe (imported), heifer, Hi
Little Button, calved October.
E. K. Wilson, West Point, Ga.,
DEVONS.
Abbess, cow, calved in 1370,81:
Aurora, calved in 1871,8105.
Acacia, calved in 1872,8110.
Juliet, calved 1871,875.
The property of Messrs. B. F. I
Cockrill.
HORSES—THOROUGHBREDS
Red Jackson, ch c, 2 yean d
Vandal; 8350.
Foeman, ch c, 2 years old, J. H
christ, Courtland, Ala, 8280.
Cumberland, ch c, 2 years cjggi
Jack Malone ,8175.
Vassal, br c, 1 year old, by Ii
dam Sadowa, by Jack Malone; W
ner, Nashville, 8460. 'he pc-
Victor, br c, 1 year old, by Vz j j, J j
8180- front o
Bay colt, 1 year old, 800. re( j J c.
Shark mare, b, 13 years old, 81-
Petemia, b m, 5 years old, y e ^
Jeanette, ch, 3 years old, $180.
Bay Filly, 1 year old, $125. HE,
Chestnut, g, 3 years old, $130.
TROTTERS. ougl:
Idol Forest, b c, 1 year old, d adop
Bay Filly, 2 years old, $200.
Dick Forest, br g, 3 years oil HKj.
Bay g, 2 years old, 150. H t
SHORT HORNS—BULLS. S9B c
Thorton, red and white, calnl prove j
1872; 845.
Fashion’s Duke, red, calvel
1873 ; 8190.
Duke Alexis, red and white,
March, 1872; 8110.
Combination, red, calved
1872; 8200.
Red Jacket, red, calved
1872 8120.
'Short Tail, red, calved AusaA
8130.
Lighting, roan, enfv" 1
IS72; 825.
Duke of Goodness, roan, cal'
tember, 1872 ; 860.
Victorman, red roan, calved
1871; 8100.
Third Duke of Richland,
calved June, 1871; $250.
Lucky Dnke. roan, calved M (
8100.
Fouth Duke of Richland, rev
Dec. 1871; 8200.
Duke of the Cottage, rei,1 wt ‘{SB
8100. »»
Thunderbolt, roan, calved M
890. ness ^
cows and heifers- deal m
Souvenir, roan, calved
1871; $160. cents fr
Forget-me-not, a red roan, Jj
May, 1872; 8150.
Victorine 2d, roan,
1872; 8300.
Tulip, red roan, calved SeP”
$155.
Cambridge Rose, red w#"'
Dec. 1871; $1010.
Irene 8th, roan, calved J® 1 '
9510.
c*lw
Farm, red and white,
1871; 8225. .
Range, red, calved Ait
$140. jgfr
Mith, white, calved Juty
Irene 6th, roan,
little Miss, roan,
Lucille,
Malindn Hudson, roan,
8100. ,. 1WB .,
Bettie,’ white, calved
$80.