The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1859-02-25
Memphis.

To visitor, after an absence of three
years, the growth of this metropolis of
Western Tennessee seems almost magical
1t is at present the most fourishing city of
the West By her bold enterprise and rapid
accumulation of wealth, she is making her
self one of the great foci of radiating rail-
roads, which place her in direct commune
ton, in about the same number of miles
and hours, with the cities upon the North
ern lakes-with Mobile and New Orleans
on the Gulf-and with Savannah, Charles
ton, Norfolk and Baltimore, on the Allan
tic. She is also casting her eyes and push
ing the arteries of her trade West, with the
design of being one of the first to seize upon
the commerce of the Pacific coast The
railroad to Little Rock will be completed in
two years. The company has been CONSOLE
dated with one building road from Little
Rock to Fulton, ON Red river; thence it
will be pushed forward to junction with
the Southern Pacific Road.
In ls45, Memphis and Evansville started
upon a career of commercial prosperity,
about equal in numbers and apparent local
advantages. Our rival-prospercus and
successful as we have been-has so far out
stripped us, as almost to lose sight of u.s.
The great value of the product of the coun-
try around her, has heaped her lap with
enormous wealth. She will export this
year nearly 100000 bales of cotton, worth
at least $4,000, 900; the aggregate of her
whole commerce cannot be less than S45,-
100000; we are boasting of less than
Slo,000,000, and with that amount deem
ourselves very fortunate. She manages
debt of S3,0oo,ooO, with more ease than we
do one of 100000. Lots on all her prin-
cipal streets, range from $500 to 81, 900 per
front foot; building lots, half to mile
from the business centres, sell for 500 to
5000 per front foot. Ground for suburban
residences, two and two and half miles
from the contre of the city, sells for 81 900
to $500 per acre. Rents for business
houses on all the principal streets range
from $1,000 to $4,000 per annum. The
city boasts of the most magnificent and ex-
tensive retail dry-good stores in the Union,
and with having one, if not two, of the
most extensive, elegantly furnished, and
best conducted hotels in the country. 1t is
certain that the Gayoso House excels the
celebrated st. Charles in New Orleans, in
all its appointments both in elegance and
for comfort.
The unexampled prosperity of the cotton
interest has given an unwonted stimulus to
all commercial interests connected with it.
The planter, when enjoying large returns,
is liberal in allowing large profits to all who
deal with him and Memphis has shared
literally in the generous patronage of the
country around her and no where have
the profits of business been so great as that
realized by her merchants the past few
years. They have become almost intoxicat-
ed with prosperity, and have advanced the
prices of property to point that seems vision
airy and extravagant to stranger; and are
indulging in speculations of future growth
and prosperity which they think more tina.
Justify their present demands and invest
ments for future advances were neve
more active than at present, high as prices
are.
The citizens of Memphis have been TIN
architects of their own fortunes. Withou
her numerous diverging lines of railroads
she would have plodded on in the pace o
Vicksburg, Natchez and other river towns
Her able press, and a few far-sighted anC
public spirited citizens like Gov. Jones, be
gan, in l849, the discussion, and finally in
augurated the railroad system, which ha
placed her in direct railway communication
with the two principal ports on the gulf
with all the Atlantic cities from Florida t.
Maine, and those along the shores of tn
Northern Lakes, and made her one of tn
chief central points on the lines of inter
communication between all parts of th
Union-of which her citizens fiatter them
selves, she is to become the heart, and
send the impulses of commerce to its mo'
distant extremities May naught occur
mar this vision of future greatness. Tn
in her loyalty to the Union, and firm in hi
old Wing faith, she is worthy of the destin
to which she aspires. s.
Legislative Proceedings.
In the Senate on Tuesday, the Senate bi