Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-10-14


We people Of the South are strangely inconsist-
ent in our conduct. We are constantly struggling
against he growing power of the North, and striv-
ing to maintain political equality in the Union.
We feel that there is no security for our section
oept in its Rblity to protect itself from aggression
and wrong. Already, tWo-thirds Of the Northern
States have assumed an attitude Of deadly hostility
towards the institutions Of the sOuh and MAORI
ty Of their people manifest no disposition to consd
er our interests or respect our rights We know
that while this sentiment continues, the asoendency
Of the North is the suBjugation of the South, and
We should consequently exert all Of eur energies to
strengthen and sustain our own section. We
should convince the nations Of the earth IS well
as the Northern members Of this oonfederaoy, that
We are able to support and protect ourselves. But
instead Of adopting this manly and independent
course, We have been, in a commercial point Of view
mere tributaries to the North We have erected for
her throne Of commercial supremacy. We have
thrown our wealth in her lap to purchase own
humiliation We have transferred to her the ascend
ency which our agricultural advantages would have
secured to rs, and built up her power until it over
shadows and controls us. New YORK has become
a commercial autocrat, which levies its taxes upon
the trade Of the South and derives its revenues from
the productions Of our soil It is the great
toll gate, through which our imports and our ex-
ports pass. New York merchants are our agents
and factors. New York bankers direct and control
our financial operations The price of our exchange
the business Of our banks, nay, the credit of the
Southern States, is regulated in New York. And
Why is this? Because We allow the city Of New
For1 Ia all IL, l.
our supplies for US.
The production of cotton might have given to the
slave holding Statess sovereignty over the whole com
mercal world The markets and manufactures of Eu-
rope are forced to rely upon them for this staple
Without it the commerce Of the world is Frustrated
and labor loses at once its employment sad
support. But the South refuses to WELD the
soeptfe which nature has placed in her hands
She voluntarily resigns her supremacy to the North
and psys tribute to the power which she has Great
ed She tears off her royal robes and binds the
badge of servitude upon her neck.
Thus, our section, which might occupy an attitude
Of dignity and power, is reduced to condition of
commercial dependence and inferiority. The bal
of trade is against US, Exchange is against u.s.
and the bonds Of almost every Southern State are
selling below par both in New York snd Europe,
while Northern States, whose financial condition is
no better than ours sell their bonds at q premium
The State Of Tennessee alone, with it's credit en-
tirey unimpared it is will pay three millions Of
dollars to New York and European brokers on her
bonds now issued while the bonds Of Pennsylvania,
q repudistipg State, nearly always command pre-
MUM. These are the results of our present sys
TEN Of trade. We cannot export for ourselves
nor import for ourselves, but must pay Northern
merchants to do these things foru US. We allow New
York to conduct our commerce, reap the profits of
productions, and tax heavily for the foreign
goods which We buy.
To remedy these evils Col PAYNE, in q series
Of letters which VIC are now publishing, sug
gests direct trade with Europe. We see no
reason why this suggestion cannot be adopt
ed We have the best harbors in the world, and at
points which are perfectly accessible from all parts
Of the country by railroad or river. It would cost
less to send our goods to Charleston or Savannah or
Norfolk or Mobile, than to New York, while the
voyage from several of those ports to Europe is
some days shorter than from New York. We shall
save to ourselves by this system all the extra cost of
transportation, and the rich profits which New York
merchants reap from the Southern trade, while we
shall relieve the South from its commercial depenN
dence on the North, and cease to build up a polit-
cal power that may hereafter trample upon and
crush US. We invite particular attention to Colonel
PAENE's very intereOting letters on this subject
We will publish the third of the series to morrow