32 SEVENTEENTH ANNIVERSARY OF THE 



sionally beset us, do not the lessons of the past 

 teach us the virtue of frugality and the necessity 

 of a change in the relations which now exist be- 

 tween the factor and planter ? The former should 

 not incur obligations, startling in their amount and 

 beyond their control, when monetary disturbances 

 arise to distress them ; and the planter must not so 

 heedlessly avail himself of accommodations so freely 

 tendered. With cotton and sugar, rice and tobacco, 

 necessary for the world's consumption, in the hands 

 of the South, her influence would be paramount 

 over every portion of the world. In vain is it that 

 hundreds of thousands of fields grow white annually 

 with the harvests, if creditors own it before it be 

 gathered. If this goes on, the power placed in our 

 hands will be barren, and we shall find ourselves in 

 the hands of the domestic and foreign purchaser. 

 The memory of one reverse should, it might be 

 supposed, continue long enough to prevent the re- 

 currence of old follies, or the repetition of former 

 fatal mistakes. But it is a melancholy truth that 

 almost utter forgetfulness of past suffering succeeds 

 the dawn of prosperity, or if remembered at all 

 they are no more than the visions of a disturbed 

 sleep. Our labors suffer most from these monetary 

 disturbances, whilst we are the factor's debtors ; 

 but there would be no necessity for this if the 

 planters were free from heavy pecuniary obligations 

 to the factor. His marketable staples would not 



