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THE WEEKLY SUN,
„ o: ifAS PS WOLF. THOMAS GILBERT.
THOS. GILBERT L CO.,
PROPRIETORS.
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„l the sender. Address,
Thos. Gilbert & Cos.,
Columbus, Ga.
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CHEAP TRANSPORT A TION.
The subject of cheaper transportation
for the West is now engaging much at
tention in the commercial circles of New
York city. Though there is a proposition
to add more tracks to the Erie .Railroad,
the better opinion seems to be that New
York can only obtain cheaper freights by
improved water lines. Os these only two
arc presented us available. One is the
enlargement of the Erie Canal and freeing
it from tolls; and the otheris the adoption
of the Canadian route of which we have
heretofore spoken. This route contem
plates the connection of the upper lakes
with Lake Ontario by means of the Wel
land Canal in Canada (now in use, but
said to need enlargement), then the use
of St. Lawrence river and Lake Cham
plain, and a short canal connecting Lake
Champlain with the Hudson river. This
would be as short a water line to New
York city from the States west of Ohio as
the Erie Canal route, and would not
have so much eanallirig, and probably not
so many locks. The Senate’s Committee
on Transportation is now in Montreal to
examine this Canadian route and to report
what arrangements can be made for free
transportation by it.
It is only by a combination with the
friends of one of these Northern routes,
that any Southern scheme for inland wa
ter transportation can hope for adoption
by Congress. Ordinarily, “log-rolling”
to procure the passage of two or more
distinct measures through a legislative
body is reprehensible. But in this case
both projects will be of national concern,
and both designed to facilitate the trans
portation of the products of the great
West to foreigp and domestic consumers.
We hope that the combination of inter
ests will be strong enongh to secure the
adoption of one Northern and one South
ern water line, and of course we prefer
the “Gulf Coast water way” for tho South,
ern lino. Whether such a combination
can be effected or not, and whether it can
lie made strong enough or not, we hope
that no Southern Congressman will prove
so recreant to liig section as to favor any
appropriation for a Northern water route
unless he is sure of a sufficient Northern
support for a Southern route also. The
time has come for the South to demand a
more equal sharo of the aid of tho Fed
eral Government, and this transportation
movement is a very proper and promising
one upon which to make tho stand.
‘•WHO BURNED COLUMBIA?”
This old question has been revived by
(ion. W. T. Sherman, who writes a letter
to the Washington Chronicle, supplemen
ted by a number of individual statements,
the object of which is to throw tho blame
upon the Confederates, notwithstanding
the late positive testimony of a Federal
officer that the Union soldiers burned the
city. We copy only the concluding sen
tences of Gen. Sherman’s letter, stating
what he regards his certificates as estab
lishing:
I herewith inclose copies of thoir writ
ten statements, together with tho official
reports, which explain the whole affair.
These witnesses go back to a time three
quarters of an hour beforo the entry of
tho head of Stone’s brigade, nnd about
two hours ahead of the time I personally
reached the piles of burning cotton, of
which there were many, and I invite your
careful perusal of their statements, for
they are positive that the}' saw rebel cav
alry soldiers ripping open bales of cotton
and applying tire. They also saw rebel
soldiers plundering the stores on Main
street, which Gen. Hampton attributes to
our men; and they further positively as
sert that Hampton had already gone out
of Columbia, so that he could not and did
not see his men apply fire. Now Hamp
ton admits that the cotton was rolled out
in the streets “for the purpose of burn
ing,” but that he forbade the burning lest
the tire should extend to the houses; and
1 reiterate that, no matter what his orders
were, the men of his army, either his rear j
guard or his stragglers, did apply the fire,
and that this was a sufficient cause for all
else that followed.
Why is it that (ten Wilson does not
eowo to the front and prove that the
“rebel soldiers” burned Columbus, with
its many thousands of bales of cotton,
its warehouses, factories, foundries, grist
mills, Jko? Was the burning of Colum
bia any more an act of heartless and bru
tal vandalism than the burning of the fac
tories of Columbus that gave employment
to suffering women and children, or the
gristmills that supplied the people with
breadstuffs ?
We will state the reason why the Fed
eral officials are so anxious to fasten on
the “rebels” the burning of Columbia,
but are at the same time so willing to
accept for themselves the responsibility
of burning so large a part of Columbus.
British citizens had a large amount of
property destroyed at Columbia, and are
trying to recover damages from the Fed
eral Government, while thore was but
little foreign property in Columbus.
Therefore it is that Federal officers admit
the burning at Columbus by their orders,
but shrink with horror from the atrocity
of burning Columbia, and seek to throw
the blame on the Confederates. It is a
question of dollars and cents that pro
longs the inquiry, not one of principle
or right. It is time that it was settled,
and as no practical good can ensue from
keeping up the agitation on the subject,
we move that Sherman be voted thanks
for his magnanimity and generosity in
not burning Columbia, and Gen. Wilson
receive equal praise for restraining his
soldiers from the destruction of private
property in Columbus!
EERTII.IZEK AT OUR DOORS!
Mr. J. M. Frazer. Secretary and Treas
urer of the Mobile and Girard liailroad,
yesterday sent us a large and flue speci
men of marl from the line of his road.
It is a conglomerate mass, of w hich shells
of various kinds form the chief ingre
dient, and is no doubt fully as rich in
fertilizing properties as the phosphate
rocks of South Carolina. Indeed we
have do doubt that it is precisely such a
mass as that from which the South Caro
lina phosphates are prepared. The local
ity from which this rock was taken is
about a mile from Seale, or Silver Run,
and Mr. Frazer informs us that it abounds
in great quantities there.
Now, here seems to be a capital open
ing for an enterprise that will furnish our
planters with an abundance of an excel
lent and cheap fertilizer (none better or
more lasting for sandy lands,) and at the
same time keep the money spent for it at
honie.i The last mentioned is an impor
tant consideration. Let us not be so silly
as to spurn or ignore the riches that na
ture has laid at our feet, and send our
utouey abroad for what we can so easily
°Btain at home. Let the phosphate beds
at our doors be developed and into use .'
I alley had received np to Tuesday
"‘bales of cotton this season, against
Tear ° r corresponding period of last
VOL. XV.
THE FINANCIAL CRASH.
Its Causes The Resources of the Coun
try-
I The immediate cause of the suspension
! of Jay Cook & Cos. is authoritatively stated
to have been "their efforts to bolster up
the Northern Pacific Railroad Company
with heavy cash advances. They were
the agents for negotiating loans for this
company, and many were the tempting
and alluring pamphlets, circulars, adver
tisements, Ac ~ which they circulated,
setting forth the advantages of the road
and of the country through which it was
to pass. The truth is, it is a railroad for
which thero was no legitimate demand
whatever, for the convenience of either
settlers or commerce. The country
through which it is to run is mostly a
desert waste, and is not likely to be well
settled for many years to come, for the
reason that it is so far North that only
the small grains can be raised as field
orops, and there are many more inviting
sections of the country for even these
crops yet unsettled. The route of the
road is some five hundred miles further
North than that of the Union Pacific,
which is blocked up by snow a part of
every winter, and on which passengers
sometimes suffer severely from the sever
ity of the weather. A good deal of non
sense about the modifying effect of “iso
thermal linos” was resorted to, to prove
that this route, though farther north,
would encounter milder winter weather
and be free from the obstructions to the
Union Pacific. But the experience of
last winter and spring was sufficient to dis
pel this delusion. Reports of surveying
parties and their animals freezing to
death, even in the spring months, were
sufficient to overthrow any subtle theories
based on “isothermal lines.” Notwith
standing tho uselessness of this Northern
Pacific Railroad and the rigor of the cli
mate along its proposed route, the Fed
eral Government made to it the largest
grant of lands ever made to any work of
the kind—2s,Boo acres to the mile, or
58,000,000 of acres for its whole length 1
Jay Cooke & Cos. undertook to negotiate
its loans, pledging these lands as a part of
the security, and setting forth in glowing
terms the mildness of the climate, the
fertility of the soil, and the future teem
ing millions of settlers that would make
it the grand trans-continental road of the
country! They may have repeated the
tale so often and so positively that they
at length got to believing it themselves
and put their own money into it too free
ly, or they may have been deceived by
reliance upon its other resources. At all
events, they went too far for safety in
sustaining it, and their suspension was
the consequence.
With the suspension of Jay Cooke A
Cos. fell the values of all the bonds with
which they were connected, and nearly
all other ruilroad bonds declined in sym
pathy with them or on account of the
panic caused by tho failure of Cooke A
Cos. The depreciation of these bonds
caused the suspension of other banking
establishments that were “carrying” or
“bulling” them, and shook public confi
dence in all others. Hence the contagion
of suspension and the alarming spread of
the panic.
The members of the New York Stock
Board, on Saturday, undoubtedly “laid the
axe at the root of the tree” in closing the
Stock Exchange. It would be a good
thing for the whole country if it could re
main closed until the angel Gabriel ooiues
down and rolls away the stone. And if
the Produce Exchange could be closed
for a like indefinite time, at New Y’ork
and Chicago, the “bottling up” of these
two agencies of mischief and disturbance
would greatly assist in restoring a healthy
state of trade and preventing an early
repetition of the crash and the panic.
The New York papers are already count
ing the resources that will enable the
country to sustain this convulsion and its
commerce to right itself after the storm.
The World of Friday states them thus:
“Commencing with the Ist of September
we have to export for the ensuing year
3,000,000 bales of cotton at $75 per bale,
50,000,000 bushels of wheat at $1 50 per
bushel, 30,000,000 bushels of other grain
at 75 cents per bushel, 200,000,000 gal
lons of petroleum'at 15 cents per gallon,
500,000,000 pounds of provisions at 8
cents per pound, and 250,000,000 pounds
of tobacco at 8 cents per pound, to say
nothing of many minor articles. If the
Administration will bo faithful to its
pledges and resist any further increase of
of currency the existing state of affairs
will hasten the return to specie pay
ments."
Claiming for the Southern States all of
the cotton and two-thirds of the tobacco
in this schedule of assets, and conceding
all of the balance to the North, we have
$2:18,500,000 of Southern products and
only $153,000,000 of Northern products
enumerated, as the means as relieving
the country from this embarrassment.
Thus it appears that our abused and mis
governed section is the Hercules called
upon to drag the wagon from the mud
into which reckless Northern driving has
stalled it. Os course the Southern Her
cules will promptly lay his brawny shoul
ders to the wheel, for the Northern Deja
nira has him completely under her control.
But how much better for us would it be,
if we, in a state of commercial independ
ence, could apply our vast and valuable
productions to the building up of our own
prosperity, instead of the relieving of the
financial commerce of the North from
pressure and embarrassmentWe can
so apply it in the early future, if we will
only lay hold of the opportunities that
will be offered —if we will only cut loose,
as far as possible, from commercial and
monetary systems now made the sport of
gambling speculators and corrupt credit
mobiliers, and establish direct commer
cial relations with Europe. Will this les
son be altogether lost on us ?
GETTIXG XO BETTER.
It is not to be denied that the tele
graphic intelligence of yesterday is far
from encouraging, so far as regards an
early subsidence of the financial panic.
The general resort to their thirty or sixty
days notice by the Savings Banks —even
by one or two that were previously re
ported as having overcome the rim by
prompt payment —and the determination
to issue ten millions of dollars more of
loan certificates, show that the panic is
not so easily managed as it was at first
thought it could be. It ia needless to say
that these are merely devices to postpone
the day of settlement. The banks may
in the meantime gain strength by calling
in their resources, but to do so they must
press their debtors and make money
tighter; and this very policy of recupera
tion will in all probability have the effect
of forcing more suspensions. We would
that the immediate prospect looked
brighter, but we must give expression to
our honest opinion that the outlook is
threatening and discouraging.
The failure of Clews & Cos. has had the
effect of quickening the panic, if it was
subsiding. It will intensify distrust of
American securities in Europe as well as
at home. What great banking house of
the North can now b 8 regarded as secure
—Jay Cooke, Fisk & Hatch, Edward
Haight & Cos. (who had charge of all A.
T. Stewart’s gold business), and Henry
Clews & Cos. having all gone by the board?
The Southern people should bear in
THE WEEKLY SUN.
j LQ ' it is the effect on business and
| the pressure for collections that are to be
: feared here, not the destruction or great
, depreciation of the currency. The Gov
ernment makes people take the currency,
: and it holds its own bonds to indemnifv
j it in case it has to redeem the issues of a
. broken National bank with its own notes.
\ This may seem to be a tyranical course,
j but it sustains the value of all the curren
j cy so long as the Government’s own credit
is good. We of the South, therefore, who
! are very little concerned in the deposits
| in the banks, and still less in the stocks
that have depreciated, may rest compara
: tively quiet. If we can only get the
money, we need have no apprehension
that it will prove worthless in our hands;
and our cotton is a commodity that will
command money anywhere— real money
if we chose to demand it and had com-
I inercial r- lations enabling us to require it.
NO MORE OF OUR RAILROAD
BONDS FOR EUROPE.
Henry C. Carey, of Philadelphia, well
known as a voluminous political writer,
and chiefly on the subjects of finance and
a Protective Tariff, has been interviewed
by a reporter of the Philadelphia Press
in regard to the effect of the suspensions,
and here is a part of what he said:
A railroad bill was recently presented
to the Constitutional Convention. It was
deemed necessary that it should be inves
tigated, and Hon. William D. Kelley and
myself took atrip, lasting over two weeks,
to Minnesota and Duluth. We looked
into this Northern Pacific Railroad, and
came to the conclusion that anyone liv
ing 1,600 miles from its starting point
who dubbled in its stock would get his
hands burned. It has taught the country
a lesson, which probably"" would not be
aided by this excitement, but it has been
a desirable lesson. My idea is it has
served to break down all probability of
all railroad credit abroad, and will there
by prevent the creation of any more for
eign debt.
Reporter. How so ?
Mr. Carey. Why, look at it. There
were $30,000,000 of railroad bonds held
in Europe, upon which no interest was
paid. Anybody will tell you that the sale
of railroad bonds is at an end. They
cannot be sold here, for the people are
opposed to them. The enormous expen
ditures of these railroads have made a
demand in the West for enormous quan
tities of goods. But if those roads are
not made, the money will not be spent,
and the people of the West would be en
abled to buy goods here and elsewhere.
Then, again, we have been running in
debt to Europe about $250,000,000 a year
for the last eight years, ever since the
close of the war. There are hardly any
Government bonds now to sell. Why,
the banks absorbed nearly $400,000,000,
which were deposited in the Treasury.
There are hardly any Treasury bouds to
sell abroad, and this affair will preclude
the possibility of selling any more on any
contingency.
* * * The tendency has been here
tofore, especially in the West, to make all
railroad improvements in advance of the
wants or wishes of the people. The obli
gations are never considered, and this last
suspension will teach all sections of the
country care. No more railroad bonds of
whatever nature can be sold advanta
geously in Europe after this. Tho fact
was shown in case of the Midland, South
Canada, Kansas, and every other half-fin
ished line. Managers who have been
hoping to sell will find that they can’t ne
gotiate their bonds abroad, and that the
sooner they stop the attempt the better.
I think the better policy now is to allay
excitement, and to create confidence.
Everything to-day is working for good,
und the general impression is that this
fitful scare will work good. I shall make
a speech in a day or two in the Constitu
tional Convention, when my views will
be given in extenso.
HON. 11. B. HUBBARD, OF TEXAS.
Another “Official Misnomer.”
Stewart Cos., Ga., Sept. 15, 1872.
Editor Sun: As editors are supposed
to know everything, and what they don’t
know, they should know, I send you the
following:
Hon. R. B. (Richard Bennet) Hubbard,
Democratic candidate for Lieutenant Gov
ernor of Texas, is a native Georgian,
born in Jasper county, Ga.; was in col
lege at Mercer University, Penfield, Ga.,
your humble servant being a member of
the same class. Mr. Hubbard is about
43 years of ago, and on leaving college,
twenty years ago, was a fine natural
speaker and was a young man of much
promise.
And, in speaking of “official misno
mers,” as you did some time ago in ref
erence to “Fox Valley” or “Fort Valley,”
I will say to you that “Cotton Hill,” Clay
county, Ga., is in the same fix. Dr. Jno.
G. Gilbert, who was among tho first set
tlers of the place, nearly forty' years ago,
being prominent among the petitioners
for the postoffice, named it “Cotting
Hill,” but the officials mistook “Cotting”
for “Cotton,” and the place has since gone
by the name of “Cotton Hill.”
Very respectfully,
J. B. Gilbert.
COL. HOOVER IN REPLY TO COL.
LAY.
Opelika, Ala., Sept. 22, 1873.
To the Editors of the Herald :
Pardon my troubling you in reference
to the correspondence between Col. Lay
and myself. That gentleman has done me
an injustice, (unintentionally, I have no
doubt,) by publishing his last letter to
me, and omitting to state the fact that it
was immediately upon my receipt of it
returned to him through the mail. It was
with great regret that I pursued this
course, and no personal disrespect was in
tended to the Colonel; but owing to the
fact that his letter contained expressions
(induced doubtless by the necessary hur
ry of his reply,) which, by the rules of the
Code, had to be considered discourteous
and inadmissable, I was compelled to re
turn it and deprive myself the pleasure of
answering it. I aui pleased to be able to
clip a copy, which I place in my manu
script work entitled, “Down the River;
or, Recollections, Ac.”
I remain, very respectfully,
Geo. W. Hooper.
THE STATE DEBT OF ALABAMA.
The report of the Auditor of the State
makes, by official statement, the direct
State Debt nine millions, seventy thou
sand, four hundred and fifty'-one dollars.
Add to the item composing this direct
State Debt, according to the Auditor’s
figures, the two millions of straight bonds
for the Alabama and Chattanooga Rail
road and the three bnndred thousand dol
lars for the Montgomery and Enfaula
Road, nnd the direct State indebtedness
amounts to $11,360,441. Add to this
amount the one million of bonds
issued by the authority of the Legislature
during Gov. Lindsay’s Administration,
and we have the sum of $12,360,441.
Add to this result the Educational fund
debt, and surplus revenue fund, $2,501,532,
as stated by the Auditor, and amount reach
es $15,161,973. Add to this result the $4,-
800,000 of indorsed bonds for the A. A C.
road, now discredited for non-paymeut of
interest, on which the State stands as first
endorser, and which have thus assumed
the character of a direct debt, and we
have $19,961,973. To this add the two
millions and a half for which the State
has become directly liable, by non-pay
ment of interest, advanced to the Mont
gomery and Mobile Railroad and the to
tal exceeds twenty-tico millions of direct
Debt for which the State is at present
liable. We forbear to mention other
sums, and we make this simple statement
only to expose the insolence and ignor
ance of one of the Radical papers publish
ed in this city .—Montgomery Advertiser ,
21 It. _ m
The Democrats of Atlanta, or Tuesday,
nominated James D. Collins as their can
didate for Clerk of the Supeoior Court
Vote : Collins 569, Halsey 127.
COLUMBUS, GEORGIA, TUESDAY, SEPTEMBER 30, 1873
TREMENDOUS GALE AT APA
LACHICOLA, FLA.
Four Warehouses, a Block of Stores
and Three Saw Mills Demolished—
Oranges and Fences Gone—lnjury to
Shipping—Good Fishing Ground—Boss
5130,000.
From Mr. Henry Moore, clerk of the
steamer Farley, we gain the following
particulars concerning the late storm at
Apalachicola and the heavy losses caused
by it:
A heavy southeast wind arose Friday
morning, 19th, at 2 o'clock and continued
with hours.
THE BOAT,
at the commencement, was “Sluice’
about fifty miles above Apalachicola. The
wind was so violent as to drive the boat
to the shore, and impede her progress.
The cabin had to be lashed to the lower
deck to prevent its gbeing blown off.
Fortunately the steamer was behind time.
Had she been at the bay she would cer
tainly have been lost. Where she was the
storm blew the bark from cypress trees as
cleanly as if shaved by a knife. Torrents
of rain fell, damaging some dry goods
for Apalachicola houses. The steamer
left Apalachicola at 3 p. m. Friday—and
hence had timejto learn the full extent of
the disaster at that place.
THE TIDE,
increased by the force of the hurricane,
ran over the wharf and flooded all the
stores on Water street, greatly injuring
stocks on the first floor. There are no
cellars in the place. The following
MERCHANTS
were mostly damaged: E. Labatiel; H.
Brash, dry goods, (lost most); F. J. Eg
bert A Cos., R. G. Baker A Bro., A. M.
Harris, A. J. Murat A Cos., John Cook—
all after Brash being grocers.
loss co SHIPPING.
Ail'the oyster boats and fishing smacks
are bottom upwards; four large lumber
barges,’’one'vvith a pile-driver on board,
and the two steam tugs—Hudson Pet and
Ella—were blown ashore.
GOOD PISHING GROUND.
A great many fish were blown ashore
and not a few big moccasins were killed
on the wharf. Several negroes caught
strings of fine trout.
HOUSES BLOWN DOWN.
The steam saw mill of Davis, Richard
A Cos. was demolished; and
that of Cottrel damaged; and that of the
Pennsylvania Tie Company had a tin roof
and smoke stack blown off.
The Bucknam .warehouse lost a roof
and side; the Pedee is„'partially,‘aml the
Mitchell and National wholly ground
ed. All were of brick.
What is known as the Columbus Block
—it having been owned of
Columbus—composed of seven or eight
brick stores —is fairly
The upper"jstorylof J. I.JGriffin’s old
store is gone. Osmon’s dwelling house
had its top blown in.
Twenty dwelling-houses are
blown down.
The market~house“is halftone.
“Saint’s Rest,” the (residencejof Capt.
Dan Fry, is uninjured.gbut his fonces and
orange trees are among the ’things that
were.
PRIV ATE Yt ROUNDS
wore badly injured. All the orange trees
and fences'in the place are down. There
were many splendid trees in the city.
The streets are full of oranges.
THE LOSS
is estimated at $150,000 to $200,000 —
that is the estimate of oitizens. No lives
were lost. Mr. C. E. Hochstrasser, of
Columbus, lost a briek store.
APALACHICOLA
was once a very important point. It is
situated at the head of the bay of that
name. Many of the merchants and citi
zens of resided there. It
was once a very importantj'cotton port,
and in 1865-6 received 120,000 bales.
Since it has become a noted lumber and
fishing point, and’its population reduced
to some two thousandisouls. Our boats
now connect there with New Orleans
steamers. This loss to the people is im
mense.
THE STORM
is said to be the most terrible which has
ever vißited that portion of the Florida
coast.
LETTER FROM A LADY.
The School Exhibition Near Talbotton.
Talbot County, Sept. 19th, 1873.
Mr. Local: In the Weekly Sun of
Sept. 9th, there appears a notice of
“School Exhibition in Talbot County.”
It was so very partial and constrained in
character as to make the people interested
in said school believe your correspondent
was more inclined to “poke fnn” at them
than otherwise.
“Country dinner" servers are extreme
ly sensitive while entertaining eity guests;
and such, perhaps, was that correspon
dent. He should not have “left Hamlet
out of Hamlet,” by not giving the instruc
tor’s name and the exact studies of his
school.
True, neither of them seem destined
to “fill the trump of lame;” yet, the one,
Rev. T. A. Brown, is known throughout
this region as a good and faithful teacher;
while the other, “Matthew’s Chapel,” is a
Methodist church situated in the district
familiarly known as “Rough Edge”—a
misnomer, by the by, for a clever, hospita
ble community.
It may confer the greater prestige,
though, to say it is some seven or eight
miles from Talbotton, which is, as you
“believed,” not very far from that foun
tain of all intelligence.
Like poor, blind Bartimeus, it has long
“sat by the way-side begging,” yet its
friends are now saDguine of its ultimate
aud thorough renovation, as some eight
hundred dollars have thus far been sub
scribed for the purpose.
And right here it might not appear ir
relevant to ask help from the ‘'bun” as
well as from all its (the Sun’s) revolving
planets and satellites. It has not been
regularly kept, up as a place for training
“young ideas,” which fact ought to make
the performances of its pupils the more
worthy of praise; aud while those you
mentioned did do well, there were others
“among the train” of thirty-six scholars
who deserve “honorable mention” in the
name of the “fond parients:”—Little
Alice Hail, aged six, commenced in the
alphabet last March, walked out before
the large audience and read about the
“Birdies” in a distinct, though child-like
voice. Masters Kelltun, Carlisle, Hughes,
Jordan, Crawford, Morgan and Walker
were all passable declaimers and first rate
students. Their pretty sisters read beau
tiful extracts with quite an easy grace.
Miss Lucy Carlisle read Poe’s Raven.
Jeifio Dew berry rendered “Pulaski’s Ban
ner” in a striking manner.
Time and space, however, forbid any
further particularization. This may prove
even more “tiresome than a twice-told
tale, vexing the dull ear of a drowsy man”
as such notices and newspaper puffs are
so numerous these times. S. N.
Another Railroad Complication.
Henry C. Semple, Esq., as solicitor for
the holders of the first mortgage bonds of
the Mobile and Montgomery Railroad
Company, has filed in the Chancery Court
in this county, a bill of foreclosure, and
asking for the sale of the railroad to pay
the $2,500,000 of first mortgage bonds,
the interest on which the road failed to
pay in November and May last. We learn
that there is also a second mortgage on
the railroad track and equipments, and a
first mortgage on the land donated by
Congress. We are sorry to say that
neither of the mortgages provided for
the payment of the wages of the em
ployees, and the bill filed does not Beek to
make any provision for them.—Mont
gomery Journal 23 d.
Memphis, September 24.—Nine yellow
fever cases yesterday.
NORTH GEORGIA COTTON.
Some More Interesting Facts About It.
Editors Atlanta Constitution: I desire
to notice briefly the comments of the
Columbus Sun on my hurried article in
reference to cotton growing in upper
Georgia. In that article I asserted that
i cotton growing here could be made more
remunerative than in middle or South
western Georgia. I still think so, but at
the same time do not advise the cultiva
tion of cotton to the exclusion of other
crops. My theory is this: That the yield
of corn, wheat and oats can be increased
at least one-third by planting from one
j third to one half the tillage crop in cot
ton, from the fact that the farmer will
have the advantage of an unsurpassed fer
! tilizer in this cotton seed, for these crops.
' There is no room for doubt about the land
i here producing twice or three times as
j much cotton per acre as the most favored
lands in Southwest Georgia. In proof of
I this, I mention again the case of Mr.
Thomas A. Williams, who lives only a few
miles south of Ringgold. He reports
through this week’s Catoosa Courier, that
he has already picked 1,320 pounds seed
cotton per acre. The land upon which
he planted is very ordinary ridge land.
The cost to him per acre for fertilizing, is
not as much as the average cost in the
cotton belt. His average this year will
not be under 2,000 pounds seed cotton
per acre. Where is the land in South
western or Middle Georgia—even among
the “brag patches” that will come near it?
The cultivation of cotton in Northern
Georgia may lessen the acreage in com
and wheat, but it will, in my opinion, in
crease the yield, and the cotton crop with
us will be the surplus crop.
A few old fogies among us say that all
will be ruined by an attempt to cultivate
cotton; that we have not labor enough
now to cultivate our grain crops. My re
ply to that is this : That the laborers now
here will be glad to remain among us
when they become satisfied that cotton
can be made remunerative. In addition
to this thousands of farmers and labor
ers will be attracted from the worn out
lands of Middle and Southwest Georgia,
and from the Carolinas, as soon as these
facts are made known.
Powerful revolution is now going on
in our midst—a revolution which will
make ours the most prosperous of any
section of the sunny South. Every
mountain is literally crammed with min
erals and attracting the attention and pur
ses of American and European capitalists.
Our smiling valleys only want systematic
and judicious management to become as
productive as the far famed valley of Vir
ginia, or the blue grass region of Ken
tucky. Great as has been Georgia’s
proud record in the past—great in the
arts of peace and war—l look forward
with a steady unbroken confidence to a
still great and very near future when her
fair brows will be decked with an iron
crown, an emblem of strength wrought
firm in her own mountains, by the strong
arms of her own sons; the brightest and
best jewels in that crown will come from
her fertile valleys. B. F. C.
Ringgold, Ga., Sept. 19, 1873.
THE PANIC.
Upon this subject the New York Bulle
tin, a recognized authority in financial
matters, says:
At last we have “the beginning of the
end.” Following a war attended with uni
versal financial and commercial derange
ment, we have had an unbridled specula
tion in almost every' branch of business.
In the industrial and commercial depart
ments, the evil seems to have worked its
own cure without any conspicuously disas
trous results.
Not until within the last few days, how
ever, have we seen symptoms of a break
ing up of the great railroad speculation—
by far the most important development of
the general inflation consequent upon the
war. The construction and equipment of
25,000 miles of railroad, within the last
four years, at a cash cost of not less than
$600,000,000, was obviously an anticipa
tion of the transportation wants of the
country so excessively in advance of its
requirements that the outlays could not
fail to bring ultimate disaster upon the
promoters of some of the new roads.
Those roads last in the field were calcu
lated to suffer almost irrespective of their
merits; for so soon as the public began
to suspect that railroad building was be
ing overdone, there would be an indis
criminate distrust of the securities issued
by the new companies, and consequent
difficulty of negotiating them. This dif
ficulty has existed for a few months, with
certain of the weaker enterprises; and the
companies or their financial agents have
consequently issued large amounts of pa
per, in the hope of being able to negotiate
the companies’ bonds to cover the notes
as they matured.
The hope of selling the bonds has been
disappointed in many cases, and hence
the late difficulties among new companies
which have come to the surface in Wall
street. We have to wait the immediate
effects of yesterday’s events upon the
banks and bankers of the interior, who
may suffer through Jay Cooke A Co.’s sus
pension, or through the discountiug of
paper, and watch for the later effects
which will appear when that paper ma
tures, and when the new roads find that
their power of borrowing is gone.
We have also to await the response of
London, which will be shocked at the
failure of a Syndicate banker, and which
will feel anxious as to the fate of certain
of our railroads in which large amounts
of English capital have been invested
within late years; and we have also to
hear the response from Berlin and Frank
fort, where also large amounts of Ameri
can railroad securities are held. When
the echo comes from these quarters we
shall be better able to estimate the length
and breadth of the crisis through which
we are passing.
Disastrous as the immediate effects of
the orisis may be, yet it will clarify fi
nancial affairs of much unsoundness and
leave us in a far healthier condition. The
panic has long been regarded as inevita
ble, and when it is past, confidence will
be relieved of one of its heaviest draw
backs. Fortunately this is in no sense a
commercial panic. It is purely a specu
lative orisis; and it will affect mercantile
interest only so far as it may weaken a
few merchants who have taken a share in
these operations, or where it may weaken
country banks which afford support to
the traders of their district. The first
thought of the community, after the cri
sis is past, will be that we have thereby
got rid of an element of weakness and
of chronic distrust; and upon that convic
tion confidence will quickly revive, and
the effects of the panic will be soon for
gotten.
THE PANICS COMPARED .
The New York Herald of Sunday makes
the following suggestive remarks con
cerning the causes of the several financial
panics of late years:
This panic has been entirely different
from any that preceded it. In 1857 the
evil effects of the storm were felt all over
the oountry. The banks generally sus
pended, and even those which were sol
vent beyond all question being compelled
to adopt this course as a precautionary
measure. Business was prostrated, and
the suffering was intense and universal.
Black Friday was entirely confined to the
Stock Exchange and the street, and bad
no effect one way or the other on the great
question of “moving the crops.” This
panic is only similar to the Black Friday
affair in being confined to the street.
That was a conspiracy; this a blunder
certain to result from reckless specula
tion. It is not easy to determine which
is the more criminal, for that was wicked
in design and this in victimizing many
innocent people. That was a subject for
homilies, but it cleared no rubbish away
and taught nobody what to avoid; this is
a wholesome lesson, and it buries the
mythical railroad enterprises which were
its cause in the same grave with the men
who fell under their weight. And it must
not be forgotten that Congress is partially
responsible for the present condition of
things, for, to a great extent, these worth
less railroads were projected merely to
seize upon the public domain, with the
consent of the national legislature, and
victimize the people into buying bonds of
companies which have plenty of land, but
no money. If, in addition to sweeping
this worthless stock from the market and
from the lists of reputable bankers, the
publio lands, so unwisely appropriated,
oan be recovered the Btorm will become
almost a matter of rejoicing, if not an
actual blessing.
THE FINANCIAL PANIC.
THE BANKERS IN COUNCIL.
New York, Sept. 20. —The officers of
the banks and the Clearing-house Associa
tion, at their meeting this afternoon,
unanimously resolved that until the first
of November next any bank in the Clear
ing-house, who shall issue to that bank
certificates to the amount of 75 per cent,
in cash value, such assets and Jsuch certi
ficates shall be accepted in settlement of
Clearing-house differences, in place of le
gal tender notes.
They further resolved to pool all their
legal tender notes, and make a common
cause against any attempt to break any of
their issues. These certificates will be
carried to the fullest extent of assets of
banks, if necessary. The practical effect
of the issue will be to economize the
legal tender notes, these certificates tak
ing their place. It is an expansion of
bank credits and facilities, but not of ir
redeemable paper. Banks to vriiicli 1 !
certificates may be issued will be charg- i
ed in addition to 7 per cent, interest one
quarter of one per cent, to defray expen
ses consequent on carrying out this plan.
A member of the Government Commit
tee of the Stock Exchange, when ques
tioned this evening in regard to closing,
said that bankers had begun to refuse
each other’s checks, and it was useless to
attempt a continuance of business under
such circumstances. Under the rules
every member of the Stock Exchange was
obliged to recognize any certified check
upon any bank on the clearing house, but
affairs were in such a state that a man
who deposited a certified check and drew
against it did not know how he was stand
ing. The members of the Government
Committee, at 11 o’clock, unanimously re
solved upon closing of the Exchange by
11:50.
The day closed with a better feeling
among the banks and with the belief that
affairs will mend early next week. The
closing of the Stock Exchange is generally
applauded, and the opinion is expressed
that the Governing Committee should,
after making some arrangement for a set
tlement among brokers of contracts fall
ing due to-day and Monday, keep the
Exchange closed for a few days. The
bank statement is not out.
PRESIDENT GRANT.
New York, Sept. 21.—Gen. Grant ar
rived here at five o’clock this morning,
Secretary Richardson is expected here to
morrow morning. Drexel, of Drexel,
Morgan A Cos., Henry Clews and George
Opdyke were among those who called on
President Grant this evening. Senator
Morton is in town and it is said he will
be present at conference to-morrow.
Ho attended the meeting of bank presi
dents at Clarion House on Friday.
The corridors of the Fifth Avenue Ho
tel were again crowded to excess to-night,
and.tho financial crisis formed the subject
of general conversation. A slight run on
the East Side savings banks is expected.
Washington, Sept. 22.—Grant is at
Willard’s. In the coutr*' -u.cming
the President called at the Treasury De
partment and had a conference with Sec
retary Richardson. The result of it may
be inferred from the fact that subsequent
ly the Secretary stated to the agent of the
New Y’ork Associated Press that the Pres
ident will do any thing within the law,
but in no particular go beyond clear legal
authority, to maintain , e the safety' of the
Treasury Department, and protect the
credit of the United States from the in
fluence of the general financial embarrass
ment.
,TAX COOKE A CO.’S DRAFTS.
Who Will Fay Them.
New York, Sept. 22.—Holders of drafts
drawn by the undersigned correspondents
of Jay Cooke A Cos., are referred for
honor to the banks and bankers set op
posite their respective names. Drafts
drawn against money deposited since their
suspension will be paid onj presentation
to Jay Cooke, McCulloch A Cos., London;
to Drexel, Morgan A Cos.; Home Insurance
and Banking Cos., Galveston; to Ameri
can Exchange National Bank; Planters’
and Miners’ Bank, Oartersville, Ga.; to
National Banking Cos. of Georgia; Hop
kins, Dwight A Trowbridge; Deposit
Savings Institution, Mobile; to Metropoli
tan National Bank, New York.
The Evening Post says: The day clos
ed with an established improvement in
general feeling. One day more with stock
exchange closed will, it is thought, put
every body in such a eond’ * *
tho exercise of reason is concerned, that '
it will be prudent for tl < brokers to again
begin business. This iii « ternoon money
lent on tho street as ...s J per cent.,
that rate having been p..si by distressed
brokers.
President Vaile, of the Bunk of Com
merce, said this evening tLi.t confidence
had been very greatly improved. He
thought the action of the Government in
buying five-t wen ties had been highly ef
fectual in loosening greenbacks.
THE SAVINGS BANKS.
New Y’ork, Sept. 22.—-When the doors
of Irving Savings Bank, No. 96 Warren
street, were opened this morning a crowd
of depositors rushed in, clamoring for
their money. The paying teller immedi- I
ately set to work and commenced to satis- 1
fv the demand. When the majority,
however, saw how willingly money was
being paid out, they became quiet and
left. Up to 2 o’clock the bank had paid
about SIO,OOO, and received a considera
ble amount in deposits. At present the
excitement has completely subsided.!
At the Broadway Savings Bank, No. 4 j
Park Piace, business was being transacted
as usual. Little or no excitement pre
vailed. The amount paid up to 2 o’clock
did not exceed SIO,OOO, while a propor
tional amount had been received.
Bank officials do not anticipate a run. j
Shortly after the Bowery Savings Bank
opened its doorthis morning, a large num
ber of depositors began arriving, and it
soon became evident that there was going
to be a run. The trustees met and de- i
cided to pay all demands, as they did not
believe that the run would last. The
trustees stated that nearly all the deposi
tors drawing out their money were those
having small accounts. The trustees say
that they have got $12,000,0000f Govern
ment bonds, and about $200,000 in New
York and $1,000,000 in Brooklyn which
they could draw on immediately. How
ever, if the run lasts, they will take ad
vantage of the thirty day notice clause in
their by-laws, but will even then pay oat
sums up to two hund .Ired
dollars, so as to save their depositors from
any inconvenience.
The Union Dime Savings Bank, on the
corner of Canal street, is besieged by a
vast throng. About two hundred were
around the doors, which are closed. A
placard in the window announces that as
many persons as are in will be paid off
to-day. The bank is amply able to meet
the run, having on hand $1,500,000 of
cash. They will sell $500,000 of bonds,
the proceeds going to reinforce their cash
for to-morrow’s rnn, they not exacting the
sixty days notice accorded by their by
laws. There are ninety thousand deposi
tors with this institution.
The New York Savings Bank on Sixth
avenue has a run of one hundred dol
lar checks, all being promptly paid.
The Greenwich has a slight run, which
is promptly met.
The Bleeker is paying all checks upon
presentation. A large line is in attend
ance.
The Atlantic is paying all checks of one
hundred dollars and less upon presenta
tion. Checks of a greater amount are re
quired to abide by the sixty day law.
AN OPINION FROM ’CHANGE.
New Y’ork, Sept. 22. —The stock ex- j
change remains closed to-day. A mes- '
senger from the Clearing House says j
every check passed through the Clearing
House will be paid. He says banks in no j
danger were never stronger.
SUSPENSION OF HENRY CLEWS j
«fc CO.
New York, Sept. 23. —Henry Clews A
Cos. have suspended. At present they
have no statement to make, save that a
temporary suspension has been deemed
advisable by the firm partners in conse
quence of the financial crisis in New York
and the general depreciation of new rail
road securities.
THE MONETARY PRESSURE.
New York, Sept. 24.—The ten million
i loan certificates are exhausted. The As
, sociated Banks will issue ten million more
| to-day. Bank of the Commonwealth sued
1 for collaterals which they cannot produce
on tender of t he amount.
New Y’ork, Sept. 24.—Carlton, Secreta
ry of the Union Trust Cos., has friends
who are in treaty with the Bank for set
tlement of his defalcation.
Henry Clews claims his securities are far
more than ample in ordinary times. He
may resume when the money market im
proves. His published list of correspon
dents includes twenty-four National and
State Banks and one hundred and fifty
eight private Bankers.
The Stock Exchange remains closed
until further orders. The sub-Treasury
}is offering no bonds this morning. Feel
ing excited. Western Union 62, bid 64.
Howes A Macy have suspended.
LATER.
The sub-Treasury bought one-half mil
lion bonds. Railroad Presidents are au
thorized to issue another ten million of
loan certificates. March, of Howes A
Macy, says all houses like theirs, having
a large number of depositors, must sus
pend.
YVashington, Sept. 24. —The Freed
man's Savings Bank is enforcing the legal
thirty days’ notice from depositors.
Wilkesbarbe, Pa., Sept. 24.—Brown A
Gray suspended. Attributed failure to
Henry Clews. The miners weie large de
positors.
New York, Sept. 24. —Suspensions :
Brown A Watson.
2 o’clock.—All is quiet about the Sav
ings Banks, throughout the city. No sus
pensions of payments have ocoured to
day. The Directors appear to be more
confident. Two and a half million of loan
certificates have been issued by the Clear
ing House. The Government bought over
$2,500,000 of bonds.
3:05 o'clock.—The streets are very quiet
at this hour. ~ The hopeful,
but rather gloomy.
THE PANIC IN RICHMOND.
Richmond, Va., Sept. 24.—The Dollar
Savings Bank closed this morning. Isaac
Taylor A Williams, bankers, suspended
on account of scarcity of currency, their
assets being double liabilities.
1 In both the above concerns the stone
cutters employed at the Government ston e
yard were.depositors to a large amount.
Considerable'excitoment in the neigh
borhood of the various banks. Run of
small depositors on the banks, but all are
holding out as yet, and will doubtless
weather the storm day.
The Freedmen’s Savings Bank requires
legal notice, as also other private institu
tions.
A general meeting of members of the
Chamber of Commerce, Corn Exchange
and Tobacco Association, and leading
merchants, will be held at one o’olock to
consider the,’state of affairs,
some measure to’strengthen publicYonfi
dence.
later.
Richmond, Y’a., Sept. 24.—The meeting
of merchants and manufacturers, includ
ing members of various commercial asso
ciations of this city, held at 1 o’clock, was
the largest gathering of the k n t ev- r held
in the city, and the greatest i. ierest man
ifested in the present financial ersis. A
series’ t of resolutions were adopted with
great unanimity, in effect as follows :
That the present condition of affairs in
Richmond has arisen from causes and in
fluences external to banking and mercan
tile business thereof, and is in no wise at
tributed to irregular operations or undue
exposure on the part of the banks or mer
chants ; that the banks of this city are at
present believed to be of undoubted sol
vency, and that no loss can result to credi
tors if the banks are allowed to
proceed as heretofore; that the meeting
deprecates the uneasy feeling prevailing
in the city and tending to produce a pan
ic and run on banks, thereby being likely
to cause their suspension as well as to ar
rest and overthrow all business; that in
view of the undoubted solvency of the
banks, and to prove their confidence
therein, the members of the meeting
pledge themselves to abstain from run
ning the banks and confine themselves to
strict, regular aud necessary checks and
drafts in course of business, making them
as limited as practicable and continue as
heretofore to make deposits, and that they
urge upon all persons having business
with the banks to pursue a like course of
confidence, thus avoiding the greatest
contingencies of prostration and disaster.
No further suspensions reported.
FAIL URE OF THE LONDON 110 USE.
London, Sept. 24.—Clews, Habicht A
Cos. have decided to suspend.
A Berlin dispatch announces the failure
of a bank in that city.
Clews, Habicht A Cos. are liable on ac
count of Henry Clews A Cos. for £240,000.
Their own liabilities are £64,000, which
they can meet, but not those of Henry
Clews.
THE PANIC IN CHARLESTON.
Charleston, Sept. 24.—Money is so
siringent here that no obligations are con
tracted and all business is limited in
amount. There is some demand for cot- ■
ton at low figures, but the difficulty in ne- !
gotiating exchange stops sales and the j
relief from that source is slow in coming.
Faotors would at a moment accept low
rates for most articles of produce. Pa
per falling due is renewed in full, or
with a small payment on account of cred
itors. Banks are disposed to be indul
gent. No failures have been reported.
The banks cash cheeks as usual and there
has not been the first symptom of a run.
LIST OE INTERMENTS.
Shreveport, Sept. 21. —No change.
The following is the list of interments to
day : Mrs. B. Swaback, .aged 34
years; Miss Alice C. Swan, 34 ; Sol. Ac
ker, 25 ; Miss It. Young, 14 ; R. Bell, 53;
D. Foreman, 23; O. T. Collins, of the
firm of Mundy A Collins, 38; Henry Al
len, 32 ;B. Clark, female, 30; A. Sheck
ler, 43 ; B. Defoe, 29 ; Mary Ann Goth
iem, 1 month ; Mrs. Nesbie, age not giv
en ; Jno. Young, 66 years, and two un
known.
Shreveport, Sept. 22.—The following
is the list of interments to-day: Otto
Shnur, aged 18; Bertha Hears, 20; Peter
Mochair, 38; Louis Eucrere, 43; Robert
Black, colored, age not given; Pines Cas
ein, 35; Albert Shade, 24 years; L. L.
Scott, white, age not stated; Pierson,
(female) aged six weeks; Peter Kelly, 40;
P. J. Mitchell, age not given; John Shan
non, 21; W. Hecox, 64; Wifiis Jones, col
ored, 37; P. O. Phelps, 2ii; J. It. Perkins,
colored, (male) 3; Eliza Vinson. 37; J. B.
McKitrick, age not giver; It. D. Sale, of
the firm of Sale A Murphy, aged 54, and
Michael Farrell, aged 45 years. The epi
demic is on the increase.
FATHERS AND SONS KILLING ONE
ANOTHER.
Independence, Mo., Sept. 23. —Yester-
day, Jas. J. Chiles met Deputy Marshal
Jas. Peacock on the street, and slapped
him on the face. A fight ensued, during
which a pistol fell from Chiles’ pocket,
which was picked up by his son, 14 years
of age, who shot Peacock in the back, in
flicting a dangerous wound. Peacock
then shot Chiles through the head, killing
him instantly. A son of Peacock then
shot young Chiles, wounding him fatally.
ICE HALE AN INCH THICK.
Chicago, Sept. 20.—Heavy fro«f
throughout the Northwest last night, in
many places forming ice. The late corn,
tobacco aud buckwheat is injured.
Cedar Rapids, lowa. Sept. 20.—An
other heavy frost last night, which has
destroyed the little corn remaining. Ice
formed half an inch thick.
Clinton, lowa, Sept. 20. —Very heavy
frost last night; ice formed almost
throughout the city.
ROGERS’ LOCOMOTIVE WORKS.
New York, Sept. 23.—Orders for loco
motives for three months ahead at Rogers’
Locomotive Works cancelled; 583 work
men discharged to-day. It is feared that
500 more may be discharged.
MINISTER DEAD.
New Orleans, Sept. 24.—Rev. Father
Schneider, of St. Alphonsus’ Church, is
dead.
NO. 34.
LETTER FROM FLORIDA,
1 Ay OTHER LETTER FROM SANDY
MERLIN.
A Delightful Evening—A Fine Florida
Plantation—Cedar Key—Great Hauls of
Fish—Mammoth Squashes and Turtles
—Deer and Alligator Skins by the Bale
—A Fine Hotel Building—Gainsville—
The “Gulf Hammock”—Labor in Flori
da—lts Lands, Climate, Water, and Ca
pacities—Personal, <Stc.
Gainsville, Fla., Sept. 14, 1873.
Editors Columbus Sun :
While in Cedar Key, your correspon
dent was made the recipient, from nearly
a dozen ladies and gentlemen, of an in
vitation to be present at, and participate
in a dance to be given at the Exchange
Hotel, by the young gentlemen of the
Key. Asa matter of course, I attended,
and must say that I have passed but few
evenings more pleasantly. The young
ladies present—what shall I say of them,
so bewitchingly sweet did they appear,
and so charmingly graceful did they dance?
Their dresses w r ere models of elegance)
combined with a tasteful simplicity, that
was absolutely pleasant and refreshing to
behold in this day of fashion and folly.
I would like to describe those dresses, but
my regard for my reputation for accura
cy of detail, compels me to decline doing
so. I will, however, mention the names
of Miss Wreford, Miss McQueen, and the
Misses Barnes, who formed a beautiful
and vivacious quartette, mainly the ob
served of all observers. To one of the
Misses B. I am especially indebted for a
most delightful ovening. The dance was
prolonged until the cumbrous hours of
night, in answer to the whirling of Father
Time’s scythe, were one by one shorn of
their heavy proportions, and began to as
sume the shape of “wee sma' hours,” and
then, there was a gradual falling off, un
til the hall, which, a few moments ago,
was alive with music, dance and mirth,
became quiet as the “Silent City of the
Dead.”
While on our way to Cedar Key from
Manatee, we passed one of the most beau
tiful and valuable places in South Florida.
The place is on the Western Peninsula,
forming the west boundary of Tampa
Bay, and is situated about one and a half
miles from the waters on the Bay, on one
side, and the Gulf on the remaining two.
On it, there are ten or twelve acres in
cane, seven hundred orange trees, two
thousand banana, besides lemons, limes,
guavas, &c. Convenient as could be de
sired far fish, oysters and clams, one
could spend a life-time there, in perfect
indifference to the world and its cares.
This magnificent property is owned by
Mr. Louis Bell, Purser on the steamer
Cool.
Business, for the fall, in Cedar Key,
was opening finely when I was there, and
the merchants anticipated a fine run du
ring the winter. One great item in the
“commercial” life of Cedar Key is the
fish and oyster business. Fabulous fish
stories are sometimes told, and then again
there are accounts which appear so, but
are capable of proof. Capt. Willard, who
does the largest business in that line,
having several gangs at work hauling
seines, showed me his books, and upon
them I found one entry of a haul made by
three men, in which eight thousand mul
lets were caught, netting the men S2OO.
Another haul netted each of three men
two hundred and forty dollars. The
waters around Cedar Key are probably
the best, save Palma Sola Flats, in South
Florida, for fishing. While lam on this
subject, I may as well tell about all the
big things I saw. Among them, was a
squash, of the mammoth kind, which I
measured and weighed in propria perso
nce. In diameter, crosswise, it was 19
inches; lengthwise, 18 inches; in circum
ference, endwise, 55 inches, sidewise, 57
inches, and weighed even seventy pounds.
And Center (he is telegraph operator) says
that it was a baby compared to some.
Among the other huge productions of this
prolific country were two turtles—sea tur
tles—said to have weighed respective
ly 930 and 7'JO pounds. They were
caught a few days ago. I saw one pack
age of one hundred and seventy-five deer
and two hundred alligator skins, shipped
only a few days before seeing the big
squash.
To the right, as you face the Gulf, at
the Key, there is a high hill commanding
a grand extensive view of the water in
four directions. On this magnificent site,
a stock company of Cedar Key merchants,
in connection with Dr. Kobt. Hunter, the
gentleman who is erecting that magnifi
cent hotel on Sennabel Island, in Char
lotte Harbor, are going to build a hotel,
that will add greatly to the appearance of
and to the prosperity of the Key. The
house will form three sides of a hollow
square—that is, a front of 125 feet, and
two wings running back 100 feet, two
stories high, having 81 rooms, besides
office, parlors, &c. lam informed that
the good people of the Key intend to com
pete vigorously with Jacksonville, Talla
hassee and other larger towns which have
so long kept the lesser light of their sister
from showing. The air and water of Ce
dar Key being beyond reproach, I see no
reason why this hotel should fai 1 to do
well, especially as it is an institution so
badly needed. The hotels that are in ex
istence at present have excellent fare,
but very poor accomodations and ser
vants. There will be a rattling among
the dry bones when Capt. Willard, the in
defatigable Mayor and business man, gets
the new hotel completed. The daily train,
together with the almost daily arrival and
departure of Gulf and river steamers, give
the Key a truly business aspect. Leaving
the briny waters of the Gulf, I was whirl
ed at a rapid rate to this point, by that
self-same limber engineer and engine.
On our way we passed through that im
mense body of rich land, known as the
“Gulf Hammock.” This Hammock is 12
or 15 miles in extent and is one mass of
rank undergrowth and towering trees;
amongst which I saw the familiar hickory,
the various kinds of oaks; also the bay,
cedar, pecan and magnolia. The soil is
a richly colored loam, having a deep sub
strata of good clay and marl, and to all
appearance will never wear out.
This land will soon be put on the mar
ket, and will, no doubt, find ready pur
chasers. The pine lands of Levy coun
ty, like those of Manatee, and Hillsboro’,
are light, greyish sand, having but little
strength, except where you chance to find
something like a clay foundation. These
sandy lands can be made to produce well
of the orange, lemon, guava and sweet
potatoe, by cowpenning or application of
manufactured fertilizers. In their pres
ent condition they are comparatively
worthless, and a man will be doing but a
poor business to settle on them, when he
can get better. The Gulf Hammock, when
cleared, with the use of improved agricul
tural implements and an improved system
of labor, will unfold an era of wonders
in productiveness, such as even the most
sanguine Floridian never dreamed of.
Labor throughout Florida is scarce and
commands, generally, high prices, rang
ing from sls to S3O per month, according
to the kind of work to be done. Colored
labor is the best for miscellaneous field
work. They have, however, a perfect
horror of “tackling” the roots of the saw
palmetto. Building is comparatively
cheap, from Cedar Key northward, and j
the timber is much better in quality, i eng*
ingin price from sl2 to sls. f' .uth efi
the Key, the quality is poor and brings
S2O to $25 —cause of high price—scarcity
of mills. I would advise all who wish to
look at land in Florida to go in the rainy
season, which begins about Ist of July and
lasts until September. At that period the
lands that are dry will always be found so;
while those that are not, will always at
that season be under water. By this plan,
one can see the worst feature of the coun
try, and hence will have no excuse for
saying he was deceived. The water, as a
general thing, is poor, and cistern water
should be used by everyone. It is far
healthier and cleaner. An industrious
man on or near a railroad line can realize
a handsome income the year round by
market gardening—in fact, there is hard
ly any branch of business that pays so
well. Land ranges from 75 cents to one
hundred dollars per acre, and a man can,
therefore, be suited according to his
means; though I must say these fancy
prices are for lands near the towns, but
even allowing great advantages thereto,
they are still too high. The best bargains
for purchasers are those for cleared and
improved lands. The cultivation of the
pecan is just beginning to attract atten
tion, and in my opinion nothing will pay
better, or more permanently than this
branch of business; though at first it is a
slow process, and consequently market
gardening has greatly the advantage.
The summer nights of Middle and
South Florida are exceeding pleasant, be
ing never sultry or close, as is often the
case in higher latitudes. As there are
plenty of stores in the country the immi
grant need not bother himself with axes,
tools or provisions. He can buy them
equally as cheap, as in the up country. I
made enquiries in order to satisfy myself,
Ac., found provisions and diy goods, if
anything, cheaper than in the interior of
Georgia and Alabama. This is due to a
purchase in the same markets usod by our
merchants, with the great advantage of
cheaper freights on the various lines of
steamships.
As I remain but a Bhort while here, I
am unable to give you any items of inter
est about the town. I leave in a few mo
ments for Savannah, Ga., whence I will
finish this letter. * * * *
Well, here I am in Savannah with noth
ing of interest to write you, save a men
tion of that prince of conductors, Capt.
J. D. Maynardie, of the A. & G. railroad.
Capt. M. is among the number of con
ductors who seem to be best pleased when
in the performance of anything for the
good of others, and we are glad at having
had the pleasure of meeting him. On
the train I had the pleasure of meeting
Capt. Willard and his most excellent wifo,
who were on their way to New York.
As it is the Sabbath I can say nothing
of the business of the city, but am told
it was never better, and during the busy
hours, everything lively, hurried and
bustle.
I forgot to mention that among the
many curious things that I have with me
are several pieces of the manatee or sea
cow rib; also, a manatee tooth, all petri
fied. The bone formation being plainly
discernible, there can be no doubt of
there being what is claimed for them—
especially, when we look at the shape and
sizes.
I leave for home to-night, and will call
on you as I go through Columbus.
Yours,
Sandt Merlin.
THE RESULTS OE THE PANIC.
The telegrams yesterday show that the
Panic is over; and we may now briefly
consider what will be its effects upon the
South.
In the first place, then, we may safely
assert that the storm has not reached
the South at all. All our resources are
untouched. Nor are those at the North
materially affected. A hundred or so
brokers and bankers have lost money on
their stocks, or have gone to the wail.
The great bulk of the capital and capital
ists of New York remain uninjured.
There will be abundant means to move
our cotton. The last thing which will
want capital to carry it to its places of
manufacture will be cotton. The cotton
factories of the North have not been
touched by the couvulsion; and they will
give us not a dollar less for our cotton, or
get a dollar less for it manufactured; whilst
Great Britain, our chief customer has
been entirely clear of these embarrass
ments. Under such circumstances, we
cannot conceive that the price of our
cotton, in the coming crop, will be in
least degree affected badly by the late
panic. All the means of transporting it to
its places of consumption, will be fully
adequate to our demand. The railroads
will run, whether their stock is owned by
one man or another; whilst to get the cot
ton over the ocean to Europe is exclusive
ly an affair of British and French naviga
tion. Ours is insignificant.
Sugar and rice interests will suffer no
more than cotton.
So far from evil to the South, we can
very well imagine that great benefits may
ensue from the experience this panic af
fords. New devices for the stability of
our currency must be obtained, or it must
be changed.
Cotton is specie. Its price is dictated
by the specie of Europe, where the great
er part of it is consumed. Whether our
currency is paper or specie, our interest
demands that we shall have, both in
selling and buying, an unalterable cur
rency. Our oredit system modifiod, and
a sounder system of prosperity in future
will be obtained. Such are the prospects
for tho South, it appears to us, resulting
from the Panic.—W. 0. Picayune, 23 a.
CAPT. a ATT’a HEATH.
Dr. Besgel’s Statement.
Special to the New York Herald.
Dundee, Sept. 20. —I had a long con
versation with Dr. Emil Bessel, chief of
the scientific corps on the late Polaris ex
pedition, and among tho rescued at this
port. I give the main points of his state
ment. Ho said :
We are much surprised to find from the
American papers that several rumors of
mischievous tendency, which I must char
acterize as silly and absurd, have been
put into circulation concerning the expe
dition, and particularly concerning the
death of Capt. Hall.
THE EXPLORES DIED A NATURAL DEATH.
It is just possible that the government
at Washington would prefer that we re
serve what we have to say for a graver
occasion, but we must emphatically con
tradict the statement that Capt. Hall died
any other than a natural death.
He died of apoplexy. He was ill about
a fortnight. He appeared in perfect health
when entering on the voyage. I noticed
nothing unusual in his health up to the
period of his illness.
The rumors that he was poisoned are
too absurd to be seriously entertained,
the rumor may have been founded on the
hallucinations of the raving patient.
ENGINEER SCHUMANN SPEAKS.
Emil Schumann, the chief engineer, in
the course of a conversation, said:
Captain Hall during his illness was in
continual apprehension of being shot,
but I was not aware that any one member
of the crew more than another excited
his suspicion.
Another phase of his mania was his de
termination not to eat or drink unless his
food was first tasted by some person.
This was mainly done by Hannah, the
Esquimau woman.
When he rallied and recovered for a
while the use of his intellect he would
say to Captain Buddington:
“If I die you must still go on to the
Pole.”
He would say repeatedly;
“It is my last wish that you strive to
reach the Pole. Don’t let my death be
a hinderance to the accomplishment of
this great undertaking.”
Preston Hesterly killed John Boothe in
Carroll county, Georgia, in 1865. He
escaped to Lauderdale county. Last Thurs
day, Sheriff Williams, Thomas White,
Deputy Sheriff, and Ed. Blair, constable,
went out to Hesterly’s house to arrest
him. They came upon him unaware in
his own yard with drawn pistols, and de
manded his surrender. He declined, and
sought to escape over the fence. White
pulled him back, when he made at White
with a knife, cutting him several times.
Blair shot him, but still he fought. White
then shot him, when he made for his
house screaming to his wife to hand him
his gun. As he ran Sheriff Williams shot
at him, when he fell seemingly dead.
The officers then departed, and Hesterly
has escaped.— Montgomery Journal.