Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-10-07

profits upon both experts and imports
are given up almost exclusively to a centralized
Northern power The cotton planter upon the
banks Of the Rio Grsnde is IS much subject TO It's
dominion as the farmer who lives upon the Hudson
or the Connecticut He no sooner transfers the pro-
ducts Of his labor to the unpreeBding steamer than
In most cases il is made subject to Northern orders
is taxed with Northern agencies, and 10 made 20
contribute to Northern domination. Nor can thaJ /
same planter out Of the sosnty residium that ne re-
ceives purchase yard Of foreign goods Eltheut uh
dergoing the process Of taxation. The importing |
merchant Of New York must have has prohts-ihe
iobber Of Philadelphia comes in for his share-com
missions are to be paid Of-the article must oe
taken coastWise in American, which means Norlherh
ships Ia foreign vessel is net allowed 20 DO SO even
without ohargel-and all these mulupheu anu lo5
the most part, unnecessary burthens are e1acteu
from the planter who receives, in the end, little or
nothing for his products Let it be further remareu
that these multiplied burtheus upon our commerce.
do not terminate the grievances we endure.
The products of the South, amounting 10 nun
dreds Of millions per annum, are useu IN loIln'os
basis of credit for the North thereby giving 10 the'
eotion the almost exclusive control Of Southern h
nauces The English capitalist having but niue IN
tercourse with the South, is Psesiay lnteresteu N
sustaining the credit of the North Inc usueIs
of that section are his immediate customers anu
his interest becomes identified with thelfs' IN the
extensive transactions growing out OF american
t-ads ,bo Sontb and West are rarely heard from.
II matters not whether the parties deal IN the ooac-
co of Virginia the rice of South Carolina, the COT"
ton of Alabama or the grain OF the MISSISSIPPI Val
lev il is found in a Northern bottom, ana It's SAFE
regulated by Northern operator Inc producing
interest is thus thrown into the back ground alto
gatber II is no wonder that the foreign merchant
IS anxious for the credit Of his immediate customers
and tremSles At the report of a Northern failure.
should q Nashville or q Memphis merchant 60 by
the board or hundreds Of Southern planters fall
into Insolvency, It matters little so long as Inc
Northern dealer can maintain his ground and meet
his enrsRements The intimate commercial rela-
tions between Northern and foreign traders begets,
of necessity an interest to sustain each others as
well as the credit of the immediate sections in which
thew are located AS legitimate consequence Of
this connection It is not surprising that fud
Northern securities commanding attention. foreign
markets Northern railroad bonds are often nego-
tiaed upon satisfactory terms, while the same char
aeter of paper from the Scu would Eails TO com
mand the slightest attention Southern States, such
as Virginia, South Carolina. and Tennessee, that
never failed to meet contract or to redeem their
pledges of faith, are shaved upon their bonds at
discount of Is to 80 per cent, while the bonds Of
Northern States, having better claims to co1h-
dence are readily purchased at par or at premium
| in the market.
AS illustrative of the disadvantages at which the
South Is pAC6Is may hurry GoeuLASN tAol ~
the time Tennessee completes her system of improV
! ments she will have been shared on her bonds not
less than three millions of dollars. And why is this
so? Capital as you know, is always controlled by
cold, calculating aud selfish policy. 1t is the inter
est and sound policy too of English capitalists 10
sustain the credit Of the North, because they are
identified in the common enterprise of monOpoliziDg
/ the trade of the Western world. The Northern
capitalists Of course cooperate in building up the
credit of their immediate section, and the products
of the South are used for that purpose, while they
| become an instrument Of oppression to the very
country by which they are furnished In the whole
operation the North is sustained but the South cp-
pressed by commercial exacing of the most ruinous
/ character The South by her humiliating policy
has been the principal contributor to the aggregated
wealth of the North, and in return for this she is
| kindly placed at its mercy.
In All that have said, let me not be understood
as accomplishing or grumbling at our Northern friends;
by no means The commercial vsssalage OF the
South is but the penalty which she pays her own
unwise and thriftless policy. On the contrary, the
Capitalization of trade and capital at the North are
but the legitimate fruits of well directed energy
enterprise. Let us not then forget that our "mls,
fortunes have been shaped by our eWn policy ana
that evils can only be removed and commercial
| independence" secured by timely and reasonable
exertiOns.
! The founder of our Republic while fully appreN
catng what was due to all sections was keenly alive
to the interests of the South and sbOred anxiOusy
! to secure for her position Of emnence in the com
/ mereial world that was clearly marked out by
nature itself. The struggle for independence had
no sooner terminated, than his great mind was &C.
cupied in devising schemes Of improvement that
| would concentrate the Western and Northwestern
! trade upon the waters of the Chesapeake Bay. In
! 1884. Washington commenced an extensive cores
pondence with the leading men of Virginia, and
| urged upon them the importance Of improving the
navigation of the Potomac and James Rivers. and Of
~, Of lie with
the tributaries of the Mississippi. He argued truly
that the trade of the North West as far as Detroit
and including the valley of the upper Mississippi,
could by such means be directed tohe Virginia sea
ports as the most direct and Convenient outlet to
/ Europe But this comprehensive and patriotic plan
was not consummated. The James River and Ken
/ hawa and the Chesapeake and Ohio canals commenc
ed at later date, are but partial filling up of the
outline that was sketched by the father Of his cOun
try. The prize for which he struggled was borne of
by other hands.
It was reserved for Dewitt Clinton to consummate
the grand WashiDgonian idea of uniting the Eastern
and Western waters, By means Of the Erie Canal
This great work while it will be monument tC
the genius and foritude Gifts originator performed
the higher Office of making New York the CONNER
ciaI centre of the Western world. Every subsequent
| Improvement at the North has been an additional
contributor to its wonderful growth.
While sir we shall advocate direct foreign trade
from the South, 'let not be supposed enthusiast
enough to imagine that New York will ever be other
wise than the great central mart Of country Nc
Southern man can be selfish enough to wish, or silly
enough to believe, that any course Of Southern
policy would deprive New York of her present posi-
ton in the commercial world. The idea Of direct
trade from the South, contemplates no war upon
New York or any other Nothern city. 1t is apology
dictated BY sense of Southern interest. 1t seeks
not to destroy the old but to open up He1c channels
of trade, not to diminish competition but to increase
it, and to profit by that competition which such a
policy would create. In short it will seek to restore
the trade of the South to its legitimate channels,
and to aU for our section that degree of commercial
independence which her agricultural productions
and their immense value to the world will so well
enable her to maintain. shall resume this subject
| in my next Respectfully yours,
Memphis, Oct. 2, 1858. r. G. PAYNE.
The London Times strongly advises the purchase
Of the Great Eastern for the Royal Navy to be used
as a floating ram; observing that ten years hence,
when the ship is no longer saleable Parliament will
I'LL al n