IN regard to Island 74,which is situated not far from the former Napoleon,a freak of the river here has sorely perplexed the laws of men and made them a vanity and a jest.When the State of Arkansas was chartered,she controlled 'to the center of the river'--a most unstable line.The State of Mississippi claimed 'to the channel'--another shifty and unstable line.
No.74 belonged to Arkansas.By and by a cut-off threw this big island out of Arkansas,and yet not within Mississippi.'Middle of the river'on one side of it,'channel'on the other.That is as I understand the problem.
Whether I have got the details right or wrong,this FACT remains:that here is this big and exceedingly valuable island of four thousand acres,thrust out in the cold,and belonging to neither the one State nor the other;paying taxes to neither,owing allegiance to neither.One man owns the whole island,and of right is 'the man without a country.'
Island 92belongs to Arkansas.The river moved it over and joined it to Mississippi.A chap established a whiskey shop there,without a Mississippi license,and enriched himself upon Mississippi custom under Arkansas protection (where no license was in those days required).
We glided steadily down the river in the usual privacy--steamboat or other moving thing seldom seen.Scenery as always:stretch upon stretch of almost unbroken forest,on both sides of the river;soundless solitude.Here and there a cabin or two,standing in small openings on the gray and grassless banks--cabins which had formerly stood a quarter or half-mile farther to the front,and gradually been pulled farther and farther back as the shores caved in.As at Pilcher's Point,for instance,where the cabins had been moved back three hundred yards in three months,so we were told;but the caving banks had already caught up with them,and they were being conveyed rearward once more.
Napoleon had but small opinion of Greenville,Mississippi,in the old times;but behold,Napoleon is gone to the cat-fishes,and here is Greenville full of life and activity,and ****** a considerable flourish in the Valley;having three thousand inhabitants,it is said,and doing a gross trade of $2,500,000annually.A growing town.
There was much talk on the boat about the Calhoun Land Company,an enterprise which is expected to work wholesome results.
Colonel Calhoun,a grandson of the statesman,went to Boston and formed a syndicate which purchased a large tract of land on the river,in Chicot County,Arkansas--some ten thousand acres--for cotton-growing.The purpose is to work on a cash basis:buy at first hands,and handle their own product;supply their negro laborers with provisions and necessaries at a trifling profit,say 8or 10per cent.;furnish them comfortable quarters,etc.,and encourage them to save money and remain on the place.
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--6per 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 10per cent.,and 2per 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.So,taking it by and large,and first and last,the dealer's share of that crop is about 25per cent.'
A cotton-planter's estimate of the average margin of profit on planting,in his section:One man and mule will raise ten acres of cotton,giving ten bales cotton,worth,say,$500;cost of producing,say $350;net profit,$150,or $15per acre.