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THE WEEKLY SUN, „ o: ifAS PS WOLF. THOMAS GILBERT. THOS. GILBERT L CO., PROPRIETORS. terms of subscription. one copy, one year.. % 1 50 one cony, six months ] OO CLUB RATES. Three copies, one year, to same post oillce at $1 40 each 420 five copies, one year, to same poet- at SI 35 each «T 5 Ten copies, one year, to same post ..(flee at *1 25 each 12 50 Til een copies, one year, to same post office at £1 15 each 17 25 Twenty copies, one year, to same post office at #1 each 20 00 Subscriptions discontinued at the expiration of time. t All remittances must he by registered letter postoffice money order, otherwise at the risk „l the sender. Address, Thos. Gilbert & Cos., Columbus, Ga. ADVERTISING RATES: \,|vcrtisementsinserted at $1 persquare (ten lines or loss, in small type,) first insertion, and Oily cenis each subsequent insertion. 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.