Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-04-10
DDM EtSTIC.
2l9ron he 8agNc.a CHrnaHie of .37rit o.
MERCHANTS CONVENTION.


DOM ESTIC.
ysrorn ne 8agNsta Ihro.,icis of 97ril5,)
MERCHANTS CONVENTION.
The Convention et yesterday at 10 ciocS sccofuing
to previoas adoarnmert.
The following additional Delegates appeared, register
ed their names, and took their seats:
cofunJas-5 s. Csihoen, Josn Il. Howard A. r
Clayton.
gasealeose Ma.-A NJ Robinson.
S. Pe,sr's Parish Pearfort Bist., S. C-I, LsrHgue.
syamiugtox ". C-Wxter Gwyan.
Sranssoiok-A L King.
Fas.tteoiite, ~ CIV Winslow
Washington Co-Wm f. PoureF.
.Mecon-L L. Griffin
WasnesSOro'-John Whieese.d, VIM Fyae, John c.
Peythess
Edg.feid-John c. Allen.
Ckariessoa-Thos Bennett, Chas. Lown6es.
Mt Robinson, Of Tuscaloosa, presented the proceed
ines Of the citizens Of that place. aPproba,oy of the ob
jects ofhe Convention which read and, on motion
Of Mr. Van Laadingham ordered to be catered en- the
minutss Of the Convention.
Gen. Hayne, from the COMMITTEE OF 81, made
lengthy report OF great cesness and ability, the sub
iect Of The objects Of the Convention accompanied by
set of resolutions. The report beag read,
Mr. Memminger rose and addressed the Convention
in speech Of considerable engh, and of eminent ADJ
lily, the which have conspired 10 break down
the direct foreign trade Of The South and the remedies
be resor,ed revive it.
Judge Lones:.eet followed Alr. Memmngcr, and ud
dressed the Convention for some time.
proposed substitute for of the resolutions OF The
Committee, to recommend the incorporation OF
Bank in the South Of 40 millions capital but after
discussion between Mr. hliscn, Me. Cumming aud him
self he Withdrew it,
After good deal Of discussion upon The different
solutions and amer ailments offered 70 them, they were
finally passed 10 che following form:
l. Resolped That direct trade is The natural channel
OF communication between nations which offer to each
other the best market for their natural productions; and
that the intervention Of third party must operate as
tax upon the exchanges between them.
2 Resoiosd, That Inc Southern and South western
States Of this Union afford those staples with which
purchased nearly the whole foreign imports Of the
try; that they the Of large portion OF
these imports and ought naturally themselves to furnish
the channel through which the exchange &c made; hut
occasion have their citizens been found incapable
Of maintaining themselves in fair competition with other
sections and that the diversion Of tis< trade from
natural channels aust have been brought about by the
unequal action Of the Federal Government or by the alb
straction of our people towards other pursuits
8. Resoiced, That in the opinion OF this Convention
such state Of things should longer continue; that
the present condition Of the commercial relations OF The
country, and The disruption OF the existing channels OF
trade afford opportunity of breaking down The tram
tneis which have long feered commerce, and Of
restoring TO the South its natural advantages: and that
it is incumbent upon every man, who has at heart the
good OF his country TO lend his best exerons 10 the pro-
motion Of these objects and 10 establish trade upon
sound and permanent basis.
Resolced That this Convention is fully aware Of
dlthcues 10 De overcome IN OF lnPr
enterprise but nothing daunted thereby and fully rely
ing upon the public spirit and Jealous cooperation of
their fellow citizens, they are determined to advance
with untring perseverance; and with that view, do
estiy recommend the adoption of the following
l. That effort should be made 10 atfoId to the i'm
poreIs and purchasers at Southern seapors, the
facilities which offered else here and with this view
il recommended that the Banks in the sespos should
Immediately apply portion of their respective capitals,
70 the purchase Of foreign exchange and 10 the procure
neut of credits funds in Eurnpe and that they should
afford the Of the 10 the importing merchant
upon discount collateral pledge of such good paper
he may take from the merchants Of The INTERIOR and
that this accommodation be afforded well upon paper
having more than six months TO rum upon that ha
wing ess; and that the Banks Of The interior cooperate
by collecting and remitng the proceeds Of such paper
to the banks the coast that they maintain the cred
il Of their bills and keep down the exchanges by redeem
ing their paper at the seapois aud that on the
other hand, the Banks n the Southern Atlantic cities
make arrangements by which the notes Of all OF them
shall be at par IN each
That with view to the important subject Of equal
izng the exchanges between the Southern,
States and Territories, this Convention earnestly recon
mend 10 the various banks OF the principal cues OF Tue
two States, such may be conveniently located, to
receive the bills of each other in their general business
and to adop such for nts nj short
periods they may deem suitable and proper the banks
against whom The balance should fall TO furnish funds
for settling the same or TO pay an interest OF s PEI
from the period Of settlement and that committee OF
FIVE be appointed take such as an their Jnog
men, will carry fully into effect the preceding recon-
mendaton. =.
s. Ths, the merchants Of the South and South west
be earnestly recommended to give preference to the i'm
por,ers in their markets. and that they afford them
al opportunity Of fair competition with other sections,
by making their FIRST calls for purchases at Southern and
South. western seapots; and on the other hand that the
merchants at the ssaports shall forthwith set about in,
porting such stocks Of goods. will ensure, at fair
rates supply the demand from the merchants Of the
interior.
a That On earnest and united effort should be made
10 draw home the capital invested by the South IN banks
and companies abroad; and 70 employ the same, toge-
,ber with such surplus capital exists at home, in mer
camille operations; and that with this view men OF in
Auepce and character be earnestly invited 10 afford the
benefit Of their example, by entering into Limited Part
nershps under the laws lately passed BY the States of
Virginia, South Carolina Georgia, Alabama Tennessee
and Florida. =,
< That this Convention cannot but view with deep
regret the neglect of all commercial pursuits which has
hitherto prevailed among the youth OF our country ana
which has necessarily thrown It's most important inter
ess into the hands of those who by feeling and habit are
led into commercial connexions elsewhere lhls Con
yenon therefore, cannot too earnestly recommend Tue
speedy adoption by all their ellowcxens OF measures
10 introduce commercial education among our youth 10
tr,n them up habits of business and thereby to es
tablisb bndy of merchants whose every interest anu
feeling shall be centered ia the country which has reared
and sustsined them. .
R,soiped, That this Convention is of opinion that
ON. ss.bshmen by manufacturers in forcing countries
r enc;ea in the chief Southern ports for the sale Of
th Cartons articles exported by them to The u States,
,,d eonduce 10 the restoration Of the direct foreign
go of the South and that similar establishments for
the s,e of domestic manufactures would also be desra
Bile. L. .o;,. !
o. nsrs an addIess 10 the people of the Southern and
$500, States urging upon them the expediency