The true Democrat., 1854-10-25

already laid down, $1 25 per bale of cotton Memphis, however, meets this by claiming, strange to say, higher prices than New or!eans: she alleges, in support of this claim, certain ar guments based on orders from the up-country, exchanges, &c. &c, but that all of these com bined fail to exert disturbing influence on the relations of this subordinate agency to the great cotton-mart of the world is, all argument to the contrary notwithstanding, established irresista1: bly, in the one fact within the knowledge ofI her cotton to New Orleans This cuts short all discussion on this head But in stating this it, must be observed that trade is supposed to be in healthy condition at Memphis: for of course in that state of things the prices of Memphis must be less than the prices of New Orleans-- the point of final sale-by the cost of freight, insurance, handling, storage, interest, profit Trade may, however, not always be in healthy state at Memphis; and then of course the prices tat Memphis are not controlled by those of New Orleans they may be to the planter ruinously low this year, and to the merchant ruinously high the next Last year for example: the Memphis prices are said to have been higher Relatively of course) than those of New Or leans; and the serious embarrassment felt there at this time may, in referring back to unsafe speculation last year, be held to give an en- dorsement of this assertion. While, therefore, as c constant element in the rivalry of the Mis- sissippi, Ouachita and Red River railroad with the Memphis road, cannot entertain for mo- ment this claim of superiority in Memphis prices this claim is entitled to serious conside- ration as an element of occasional application. One- half cent per lb. over and above the prices justified by the necessity of resale in New Or leans would fully cover all inequality in the two lines of carriage and places of sale-difference of carriage, insurance, drayage, interest, &c.,, Sc. A sober state of things throwing the business of the southern section of the State on the line of economical outlet to the ultimate market, an excited state of things might at any time divert all the business from that economical outlet; and therefore, while # it ,0ere tue only outlet from the southern section at ,Ooun generally cucumber
 tue shipper aoi tar equal to $1 25 per bale of cot ton, this Memphis connection endangers at every fever throbo of speculation, in Memphis the proftabeness, and perhaps the very maintain tainance that line of constant economy in the southern section-the Mississippi, Ouachita and Red River railroad.
 | The Memphis road therefore presents under the claims put forward in its support c constant fatal opposition to the Mississippi Ouachita and Red river railroad; and under the strict facts of the case presents to that road an occasional op- position which affecting it at that weakest part of all roads ill a new country-the receipts, pla-l ces the Mississippi, Ouachita and Red river railroad even after construction, in the most serious danger. There is in the conclusion be
 it observed no assumption of premises no flights of fancy; it is the logical result of indisputable facts and figures.
 The Memphis road occupies a position of hostility to that other member of the State system, namely; Fort Smith, Little Rock and Helena railroad. am aware that this road is in legal technically and practical management made up of two distinct parts; but the unity of purpose in those two parts having led to their simultaneous appearance in the consideration of the question of the economies of our carrying trade, l shall still continue to regard them, as they are in fact, unit. The general reasoning applying to the rivalry of the Memphis road with the Mississippi, Ouacfnta and Red river road apply with equal force to this case but in order to make those reasonings special to the question in hand l must furnish the figures ex- pressive of the precise relation between the Memphis road and the Fort Smith, Little Rock and Helena railroad Little Rock in this case as Fulton in the former case, is the point where this rivalry commences the Memphis road pre- sents at that point to the producer freight-car- riage to New Orleans, over 40 miles of rail- road and 800 miles of river, the Helena road presenting to him a freght-carrage over 100 miles of railroad and 700 miles of river- Waiving the disparity of cost of construction standing against the Memphis road, the ship maent from Little Rock 6y ,0ay of Memphis rather than by scay cf Heleaa, levys perpetual tar on tue producers cf tue Uhoe northern section of tue
 State from White riuer acest,card to Me hlaiaa Nation equal to te cost cf transporting their aohole products over 40 miles of raihovd aud 100 miles cj gtver-anaounting even noa0 to some hundreds V thousands cf doltcvs. Is this fancy or is it fact? Which is the merchants balance, ask you?-for that like this is the result of simple arithmetic.
 have therefore now disposed of the oppo- siton presented by the Memphis road under the first claim set up for it, the shipment of the State products, to those two roads for the ac- complishment of that shipment which has been suggested by the result of industrial economy the Fort Smith, Little Rock and Helena rail- road, and the Mississippi, Ouachita and Red river railroad. Next shall consider the rela. tions of the Memphis road, under the second claim set up for it, to the Cairo and Fulton rail- road H
 0T The estimable wife of the Rev. MT. Z.