Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1857-08-15

Pm the New YORK Dali Nrvs-1
Southern capitalists are moving for fhe cen
s~truction Of a splendid steamer of s0oo TINS
burden, to run monthly from Baliimore and
Norfolk to England. and it is said that a fifth
.srt Of the amount required has been pledged
BY Southern gentlemen doing business 10 this
city. It is also esiimsfed that the passenger
and express freight business Of Baltimore,
Washington. Richmond, and Norfolk viii Re
sIafcie, to support the steamer and insure
twenty per cent. to the stockholders II Ibis
"a correc,, the merchants and real estate own
.rs Of those cities viii have a double iuduee-
pens to come forward with the necessary
funds to put the enterprise on a sound working
bssis.
These projects may be carried out, because
It is both practicable and paying, and not ?
mere grandiloquent dream, and the South is
,bundantIy able to build a steamer suited r.
is requirements, and has commercial routes
suuv competent tc sustain it. There shout
be nc difficulty in forming the proposed CON-
oany with a capital stick Of s7Ooooo, divide
into l 400 shares Of $500, each share to beas
attached six passage coupons. These coupons
sp,itle the holder to one free saloon passage
every year for six years, which, at the mode
rate estimate Of 500 secures the shareholder
% per cent. o. his investment, independent OF
he dividend arising from the general earnings
Of the steamer.
This novel feature Of insuring the stock
/ holders the hrs. and safes. share in the prof ?
of the steamer connends the plan to favor and
/ confidence. and two hundred shares are engage
by men OF Southern c~onnsxion in this CITY
According to the proposals an estimates this
magnificent foar-whseled steamer is to com
! 5ine all the latest improvene nts, and will b.
superior to the Persia and Vanderbilt in size
and ecomuodsHoss, aud the eOutra actors guar
uty to run her 400 miles a day with less thar
he average Of fuel required By those noble
ocean steamers.
Politics should have no share in this noblf
enterprise, but the leaders Of this movement
/ declare that they are actuated By two motives
First. " To enancipate the trade and travei
Of the South from its paralyzing dePsndeaet
on Northern m0nopolists"
Second. "To promote a direct immigration
Of manufacturing industry and capital into IL
ample and inviting eot-On-grOwing regions o.
the Sorth-"
We wish success to the project Of direct
$ can communication between Europe and on
southern ports, for we sincerely believe Che
prosperity of each and every section Of the
country will advance the prosperity of ID,
~ - - .b,s 4 r.-r5hr5
an Of sectional interests is the best guaranty
Tor the harmony and Permsnsnes Of tbe Union.
There is no reason WIN the Empire CITY
the great msdiating centre OF and
production, should object to the South iuv-t-
a direct manufacturing and ni.ing immi
grafton into her vas. fields Of natural wealth.
At present the South mauifests q decided
disposition to aef, and if it will discard tbe
Ehols circle Of transient, im7raetiea5ls, ard
unpaying schemes however allurihg they may
be in their magnificent PrOPortions-snd a6op
a sober, cOnnon-ssnse programme, it vii re-
9uire bat a moderate sxertiOn of business ener.
~ and persistence 70 secure a permanent sys-
TEN OF steam Communication with Europe.
There is 20 doubt the South possesses within
itself the means to create and support a steam
er Of the first class from ports 50 favorsblg
placed By nature as Blltinore and Norfolk, Il
hey will concentrate upon it with any degre,
u business-liks directions; bat, as one Of it.
own writers has observed, "southsrn enter
prise seems to labor under a chronic iafrmity
Of purpose"
Noble projects are formed, and are for a
time sustained with talent and nberalisy but
shen the strain Of labor comes the protectors
weary Of well doing, and at the crisis of 6nsI
Effort the capitalists, thePress, and the people
are of in Chase Of SON new idea, and the
matter ether drops suddenly into the gulf If
oblivion or is quietly taken up and perfected
by some working bee Of this @hiye Of northern
-nonopolists " for his own peculiar advantage.