Cheraw gazette and Pee Dee farmer. [volume] (Cheraw S.C.) 1838-1839, 1839-04-26


and should urge US on, with renewed zeal,
energy and perseverance.
5h. Resolued, That the following mea.
sures are IN the opinion fthis C: invention,
necessary TO be adopted for the purpose Of
cnsurlng our success, wiz
lst. That the commercial capital and
credit oft the Southern and South western
States should be so extended and enlarged,
as TO enable our merchants to carry on
the business of direct impor,ations on an ex.
Ienslve scale, and on the most advantage
Gus terms.
I'd. That for this purpose, Il Is highly i'm.
porlant that portion Of the capital aow ab.
sorbed in other pursuits should be directed
to commerce, for which the strongest in.
duccments are now offered by the passage
of laws in several Of the States, authorizing
the formation of flimted CO partnerships, and
from The reasonable assurance that such 10.
vestments will be as profitable as they mus.
be beneficial to the community.
Sd. That our Banks should extend all the
aid in their power to this trade. and afford
the necessary facilities for carrying it or
successfully. by enlarging the capital and OK.
'nding the credit of those who may eneae,
in It. 10 the utmost cx,ent consistent with
the safety OF thes: institutions and the pub.
lie welfare.
4lh. That the proper efforts should also
be made to bring in foreign capital and cred.
it, in aid Of the resources of our own coun-
try, and that for this purpose suitable agents
should be sent abroad to induce foreign capi.
talsts and Merchants, to establish agencies
and 10 form CO partnerships in our cities, with
the assurance Of their receiving cordial
welcome, and Jealous support.
5th. That similar efforts should be made
TO bring about cooperation, between our
Merchants and Capitalists, and those Of Eu.
rope, for the purpose of Immediately estab.
fishing lines of Packet Ships and Steamers,
whereby regular communications, at stated
periods may be secured-and tina, all other
proper measures should be adopted 10 effect
as speedily as possible, this all important
object.
9Th. That in the opinion of this Conven-
ton, it is essential to the success Of any
scheme ofdirect importation, that demand
should be created in our own Ports for all
the goods so imported, which can only be
effected by opening free communications
with the interior, by an extensive system of
Rail Roads, Canals, and Turnpikes, by
which the Merchants of the interior may be
enabled to lay in their supplies on better
terms than they could procure them from
any other quarter.
7;h. That Committee Of five be appoin.
ted in each Of the States represented, 10
carry oul and effect as far as practicable, the
measures recommended by the Convention.
6;h. That We regard the trade between
the Ports Of the South western States and
all other ports ofthe Union, as governed by
the same principles which are applicable to
our foreign trade, and while the same shah
consist in the direct exchange ofour produce
tons fer those of other States, as entitled to
our support. But in this, a, 10 the foreign
trade, we regard direct. importation in
our own ships. through our own resident
Merchants, as essential 10 enable US to enjoy
all the benefits of this intercourse.
7rh. That among the measures auxiliary
to the importan, objects we have in view,
this Convention cannot but regard as of deep
interest and importance, the adoption Of tho
proper means for introduc ng commercial
education among the youth Of our country
the training them up to habits of business,
and thereby es ablishing body of Msr.
chants, whose every interest and feeling
shall be identified with the country which
has reared and sustained them.
9Th. That in the opinion of this Conveu.
ton, the establishment of Southern Re.
view, under the direction of able and learn.
cd men, 10 be faithfully devoted to the pro.
motion Of science and Literature, and also
to the defence of the institutions, the vindi-
cation of the rights and the development Of
the resources OF the Slave.hoIding States is
an object Of the deepest interest, and one
which should command the cordial CO Oper.
alton and support OF every ciIzn OF these
States.
MITCHELL KING, Esq. read the following.
REPORT ON THE TAXATION OF COMMERCIAL
CAPITAL.
Your Committee are deeply convinced
that much ofthe Legislation ofthe Souh. in
stead offoStering and encouraging, has ten
ded 10 discourage and aepress commerce.
The same princI Piles which in England have
sustained e corn laws of that country,
have prevailed here. Tne Legislative
power has been chiefly in The hands OF the
agricul,uris,s. They have been accustomed
to pay tax on their property, according 70
ITS estimated value. Their capital 10 fixed
and cannot escape from the impost. They
have naturally enough considered, that cap.
ital invested in trade ought to contribute ito