Liberty advocate. [volume] (Liberty, Miss.) 1835-1866, 1837-12-12

. 'an1 yet supply the merchants of the into
rior on terms more advantageous than they
can obtain from the Northern importers
They have every natural advantage in the
competition, and are invited by every mo
tive, public and private, to embark in tho
business and reap the rich harvest that lie'
before them. 1t cannot b8doubted tha
the merchants Of the interiN will give
them preference, since, to nle motives
of interest, those Of patriotism would b.
superadded.
y Among the measures which will mos
: efectually promote the grSat object which
has brought this Convention together, uonC
are more prominent than the completion
of great works Of thermal improvement
tby which the Southern Atlantic cities arr
to be connected with the Valley Of the
Mississippi. In aid of the individual cap
ital and enterprise engaged in these works
1T is believed that the patronage of the
States interested, might be wisely anC
benefcialy bestowed. Their completion
would greatly promote the system of di
rect importations through our own sea
ports; and these importations would great
iy promote the completion Of the work in
question. They are parts of one great
system, and will mutually sustain each
other. If Georgia and South Carolina
with that harmony and concert of action,
which the inseparable identity of their in
terests so strongly recommends, would
bring their undivided energies and re
sources to the completion of those lines of
communication connecting their Atlantic
cities with the nayigable waters of the
West, the day would not be distant when
our most ardent hopes and sangulne anti
cipations would be realized.
The Committee beg leave to suggest to
the Convention another measure, which in
their opinion, would be eminently con-
ducive to the great object which we have
in view. One of the obstacles in the way
of establishing system of dir ct importa-
tions, is the want of the requisite capital
applicable to that object. The country it
believed contains a suficiency of capital,
if motives could be presented to give it a
proper direction. To effect this, the Com
mittee can suggest no measure, which, in
their opinion, would be so effectual as a
law limiting the responsibility Of co-part-
ners to the sums which they shall put in
to the copartnership. A large portion OF
the capital to which we must look for car.
rying on the business Of direct importa-
tons is in the hands of planters, and men
of fortune who have retired from bust
ness, who would be willing TO put portion
of their surplus capital into importing CO.
partnerships, under the management of
men of character and capacity, but would
never consent to make their whole for
tunes responsible for the undertaking.
If they actually contribute certain
amount of capital, and the public is APP
priced that their responsibility extends
no further, it is obvious that the credit Of
the concern will rest upon the substantial
foundation ofthe capital paid in. Nothing
can be more fair as it regards the public,
and nothing would be so effectual to direct
the capital and enterprise Of our citizens
into channels where it is much wanted.
The Committee think it would be expedi-
ent to memorabilia the Legislatures of the
Southern and Southwestern States on
this subject, and recommend to the Con-
vention the appointment of Committee
for that purpose.
Another measure which would greatly |
facilitate system Of direct importations,
would be the formation of connexlon
and correspondence between some of our
banks, and some of those in England, by
which each should have standing credit
with the other. This would enable the
banks here to furnish the merchants who
might wish to purchase goods in England,
with letters of credit, upon receiving ade-
luate security: the bearer Of such letter
having to pay interest only from the time
he actually drew the m oney to pay for his
purchases; this would prevent the loss Of
interest which he would incur if compelled
o provide himself with money before he
Jet out on his adventure. Cotton pur-
;hasers from England would derive some
benefit by obtaining similar letters from
he banks there, upon those oil our banks,
With which they should have an establish
ID credit.
If in addition to these facilities, our
,anks would establish agencies in Europe,
md advance a limited amount upon cotton u
unsigned to them, it would greatly con-
ribute to accomplish our common object,
y enabling our citizens to export their
wn merchandise without the Intervention
f Northern agency
In concluding their report, the Commit
&c cannot but express their strong con-
lotion, that the success Of this great i'm !
rovement towards the emancipation ofthc 6
;tape growing States for their commercial 9
rammels, will depend more upon ndlvidu- =
Enterprise sustained and supported by an {
public opinion, than upon any y
MEASURE Of legislation, however important I
hese may be. The business Of direct I'M
.-.to.;,,ns Y,,uct hn commanded 1T once 7