As the time is fast approaching when the new cotton crop will be ready for market, we would say a word about the matter to southern planters. The probability is that the Confederate Government will pursue the policy of which we have been the constant advocate in common with several contemporaries—to-wit : Purchase the entire crop so as to exercise exclusive control over it, paying for it in Government bonds and Treasury notes. A resolution to this effect has, in fact, already been introduced into Congress snd referred to an appropriate committee for action.
However this may be, unless the Confederate authorities order otherwise, not one bale of cotton should be sent to any of the great cotton marts until there is some definite understanding in regard to that policy foreign powers intend adopting in reference to Lincoln’s paper blockade. The New Orleans factors, we notice, arc calling upon the planters to pursue this course, a fact which exhibits their self-sacrificing patriotism. Let every man who owns so much as a single bale of this invaluable staple keep it at home.
Should the usual quantity that is brought to this city alone—say 400,000 bales—be stored in our warehouses this fall, and continue to lie there without the least probability of a sale, the temptation offered the enemy to essay its capture would be extremely great, particularly as the staple will be very scarce throughout the North be coming winter. It would be tantamount, indeed, to offering the enormous sum of $20,000,000 as a bonus upon the invasion cf the Mississippi valley, and a successful expedition against Memphis. We merely throw out the suggestion to our planters, without pretending to discuss its manifest propriety, which is vindicated better by common sense than elaborate argument.
Memphis Daily Appeal, Memphis, TN