If this proves a financial success, as seems quite certain, they propose to establish a banking-house in Greenville, and lend money at an unburdensome rate of interest--6 per cent.

is spoken of.
The trouble heretofore has been--I am quoting remarks of planters and steamboatmen--that the planters, although owning the land, were without cash capital; had to hypothecate both land and crop to carry on the business.

Consequently, the commission dealer who furnishes the money takes some risk and demands big interest--usually 10 per cent., and 2{half} per cent.

for negotiating the loan.

The planter has also to buy his supplies through the same dealer, paying commissions and profits.
Then when he ships his crop, the dealer adds his commissions, insurance, etc.