The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-10-31
From The augusta Geo Coastiiutionaiis
CONVENTION OF MERCHANTS.
WEDNESDAY,, Oct. Is, 1887.

CONVENTION OF MERCHANTS.
WEDNESDAY,, Oct. 10, 1887.
The convention met pursuant TO adjourn
ment, and was called to order at IL o'clock by
the chairman.
The President called on the Select Com
mittee for their report, whereupon the Hon.
George McDuffie, the chairman, rose and
read in clear and impressive manner the fol-
lowing report and resolutions.
The Select Committee raised for the pur-
pose Of ascertaining and reporting, what mea-
sures will, in their opinion most efectually
contribute to the accomplishment of the great
object Of this convention, ask leave to submit
the following:
REPORT
The Committee are deeply interested with
the Importance of the duty assigned them,
and have bestowed upon it all their limited
time would permit.
They regard the presentderangement Of the
currency and exchanges of the country, how
ever, we may deprecate its cause and deplore
its immediate effects, as furnishing an occa-
sion, which, if wisely improved, will relieve
the staple-growing States from d state Of
commercial dependence, scarcely less re-
proachful to their industry and enterprise,
than it is incompatible with their substantial
prosperity
The staple-growing States, while they pro-
duce two-thirds of the domestic exports Of the
United States, import scarcely one-tenth of
the foreign merchandise which is received in
exchange for it. Almost the whole Of the
foreign commerce which is founded upon the
productions of our industry, is carried on by
the citizens Of other States, causing their
cities to flourish, while ours have been sink
ing into decay.
In the opinion of the Committee, the period
has arrived, when our citrzens are invoked
by the united voice of interest and patriotism
to put an end to this voluntary tribute, amount
ing asnually to something like ten millions of
dollars. 1t is believed that the quota Of Geor-
gia and South Carolina alone amounts to not
less than three millions of dollars. II may
not be disguised, however, that this extraor-
binary and unequal state of our commercial
relations, had its origin, more in the fiscal
operations of the Federal Government than in
any supposed deficiency in the industry and
enterprise Of our citizens. The high duties
imposed by the tariff of 1916 upon the pro-
auctions of Southern industry, and the still
liIOTc tHOIIuOuS uuueS luipOScu ny tuoSc VI
1924 and 1928, combined with the unequal
system Of depositing and disbursing the reve-
nue. thus collected, almost exclusively in the
Northern cities, operated as bounty to the
commerce Of those cities, which the most
persevering industry and enterprise on our
part, could not have overcome. Great and
obvious as were the natural advantages of our
Southern cities, they were more than counter
balanced by these operations Of the Govern
ment. And whilst we stood amidst the ruins
thus produced by misgovernment, many of our
own citizens were utterly unable to account
for the phenomenon, and some Of our charita-
bic neighbors supposed it to be owing to the
curse Of heaven upon our domestic institu-
tons
Every practical man, however, will at once
perceive that the deposit Of almost the whole
of the Government funds, in the banks Of the
Northern cities, was equivalent to loan OF
like sum without interest, and that the I'M
mense sums disbursed by the Government at
the same points, operated even more decid-
edly to give those cities an undue ascenden-
cy One Of the most obvious and salutary
consequences which we may confidently anti
cipate from the reduction of the duties and the
withdrawal of the Government deposits from
the banks, will be the restoration of the
Southern cities to condition of comparative
equality in the business Of foreign commerce.
In fair and equal competition, it cannot be
doubted, that they will be able to exchange
our domestic productions for the manufactures
of Europe, by direct trade, more advantage
ously, than the Northern cities can do it, by a
circuitous process, involving intermediate
transfers and agencies, all increasing the risk
and expense Of the operation.
The staple-growing States never can be
practically independent and enjoy the full
measure of the bounties which Providence
has so abundantly provided for them, until
the commerce which is founded upon their
valuable productions shall be carried on by
our own merchants, permanently resident
amongst us, whether they be native or adopt
ed The pursuits of commerce must be IL
beralised, the commercial class must be ele-
waited in public opinion to the rank in society
which properly belongs to it. The avocation
of the merchant requires as much talent and
is of as much dignity and usefulness as any
other pursuit or profession; and the senseless
prejudice which would assign to it an inferior
rank, has been blindly borrowed from those
ancient republics and modern despotisms,
whose policy it was to regard war as the
only honorable pursuit. As agricultural pro-
ductions, which find their market principally
in foreign countries, constitute the almost ex-
elusive source of our wealth, the mercantile
is as Indispensable to our prosperity as the
AGRICULTURAL. Their interests are inseparably
identified, and whatever affects the prosperity
of the one, must have a corresponding inhu-
encc on the other. How much, then, does
the general welfare of the siaple-growing
States depend upon diverting into the pursuits
of commerce, large portion Of the capital,
tho character and the talent. which have been