This means business.  In the North the farmer raises his crop on his own capital, and turns it over unencumbered to the merchant for the public.  The credit system prevails in the agriculture of the South, and brings another precarious element into the already hazardous occupation of cotton-growing.  A new party appears in the cotton-merchant.  He is not merely the broker, yielding the proceeds, less a commission, to the planter.  Either, by hypothecation on advances made during the year, he secures a legal pre-emption in the crop, or, by initiatory contract, he becomes an actual partner of limited liability in the crop itself.  He agrees to furnish so much cash capital at periods for the cultivation and securing of the crop, which is husbanded by the planter.  The money for these advances he obtains from the banks; and hence it is that in every cotton-crop raised South there are three or more principals actually interested—­the banker, the merchant and the planter.  This condition of planting is almost invariable.  Even the small farmer, whose crop is a few bags, is ground into it.  In his case the country-side grocer and dealer is banker and merchant, and his advances the bare necessaries.  In this blending of interests the curious partnership rises, thrives, labors and sometimes falls—­the planter, as a rule, undermost in that accident.

The Millefleur and Rottenbottom plantations are famous, and a hand well over the crops raised under such shrewd, experienced management as that of Colonel Beverage is a stroke of policy.  Therefore, as the bankers and jewelers have been polite, so now the cotton-merchants are civil; but the colonel is shy—­an old bird and a game bird.

Shy, but not suspicious.  He chooses his own time, and at an early day walks into the business-house of Negocier & Duthem.  They are pleased to see the colonel in the way of business, as they have been in society, and the pleasure is mutual.  As he expounds his plans they are more and more convinced that he is a plumy bird of much waste feather.

He has taken Rottenbottom and Millefleur, and is going pretty well into cotton.  He thinks he understands it:  he ought to.  Then he has his own capital—­an advantage, certainly.  Some of his friends, So-and-so—­running over commercial and bankable names easily—­have suggested the usual co-operation with some reputable house, and an extension, but he believes He will stay within limits.  He has five thousand dollars in cash he wishes to deposit with some good firm for the year’s supplies.  He believes that will be sufficient, and he has called to hear their terms.  All this comes not at once, but here and there in the business-conversation.

The reader will perceive one strong bait carelessly thrown out by the auriferous or folliferous colonel—­the five thousand dollars cash in hand.  The immediate use of that is a strong incentive to the house.  They covet the colonel’s business:  they think well of the proposed extension.  Cotton is sure to be up, and under practical, experienced cultivation must yield a handsome fortune.  The result is foreseen.  The cotton-house and the colonel enter into the usual agreement of such transactions.  The colonel leaves his five thousand dollars, and draws on that, and for as much more as may be necessary in securing the crop.