The Rodney telegraph. (Rodney, Miss.) 1838-1840, 1839-08-22
: RODNEY, (aaiss,) THURspAfi AUGUST y, 1890

nfshins the banks with the means Of assist-
ing the efforts Of the enlefpfising.
{ Another argument which HIS boen nd |
dressed to the people Of the south il the |
supposed influence Of tho System III Great |
ing direct trade between the planting
States and Europe. This is based upon the |
notion that our trade will always pass thro'
New York. when we have currency s0fi-
ciently uniform to permit our merchants tol
deal there with facility. 1t is proposed,
then, TO open channel Of trade, which has
not been considered advantageous, by OBJ
structing that in which it has hitherto NOV
ed. The wisdom Of such plans is doubtful
at best; and to the southern people, the uni
form advocates Of free trade, il would seem
particularly Objectionable. But, in truth,
|even these distractions will not operate as
the advocates Of the sub-treasury propose.
Toprove this, a very slight view Of tho con-
dition Of the country will suffice.
The custom houses of the large importing
cities, and the land Offices, are the points at
which the revenues are principally collect
Led, the District Of Columbia, New York city,
and the military and naval establishments
are the places at which the Ear greater por-
ton is expended. Something, too, is collec-
ted at the post Offices; and this, after paying
the expenses Of mail carriage and collection,
is transferred to the seat Of government. 1t
| is undeniable, that the money collected al
the southwestern land Offices, and the little
which southern custom houses will afford,
with tho surplus from the post Offices, will
be speedily carried to the points of disburse-
ment. We of Mississippi have not, and it
is scarcely possible that we can have mill
itary or naval post, or any other establish
ment that can draw money from other States
to this, or retain what is hero collected.
And system by which largo amounts are
annually drawn from us, 10 be expended
elsewhere, must weaken, instead Of promo
ting, our ability to engage in foreign COM
tmerce. With sound currency, these drains
were made in renIittanccs through the
banks; under the paralysing influence Of
the sub-treasury, they must be made in
specie. Thus it is proposed, that our com
merce shall be established by system
i which depriyes US Of the means even Of or
! binary dealings with our neighbors.
4 But It is alleged, that the cotton crop o
mississippi may be sent TO Europe, and the
proceeds invested in the foreign goods re
quired for the consumption Of the State
) Doubtless, this Is practicable, to consider
] able extent. But it is no more practicable
| with bad currency than good one. In
+ deed, such state Of things operates pow
erfully against our means Of expectation
D by carrying 10 other States the portion o
: cotton necessary to meet the demands which
j . deprecated currency is inadequate 10 dis
3 charge. All the whole argument is foundet
{ on the assumption, that the planter who owns
. q cargo Of cotton is wiling to invest its va
J lue in traffic which he probably does no
understand, instead Of having II returned il
: form in which he can pay his debts, or i'm
7 lproye his estate. The history Of the worlt
] furnishes few examples Of such folly. Or
: If the advocates of the measure deem TIN.
y expectation too preposterous for public Gre
k dulity, and propose that the planter shall
E draw bills upon his factor, and sell them fo
: ready money ia the market, who will be tn,
: purchaser? None will believe that tn
g merchants of Mississippi viii bid as largely
q for such funds, as the great capitalists ofth'
: northern cities. The purchase ofthe bill
+ will give them the control of the proceeds
]. and trade will then be where it is now-il
!, the hands Of northern merchants, and they
Il will determine, as they now do, whethe
e cargoes shall come directly from Europe 4
d our ports, or indirectly through New Yorl
i'll and Boston. It would be foreign to our pre-
d sent purpose, to discuss the advantages Of
+ direct trade between our State and Europe