Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1861-07-25
MEETING A. MERCHANTs EXCHANGE

MEETING AT MERCHANTS EXCHANGE.
A large and respectable meeting Of mer-
chants, and gentlemen connected with the
cotton trade, was held yesterday at the Mer-
chants Exchange, the president of the assOci-
alton, Mr.. Hunt, in the chair. Col. Titus,
from the committee appointed at the meeting
on Monday last, presented the following
resolutions which-after a discussion in which
several Of the gentlemen present participated
were unanimously adopted:
WHEREAS, The Confederate States Of Amer
lea, now contending for the inalienable right
CT self government, il q war ~unjustiv wagcd
by Abraham Lincoln, president of the United
States, need the liberal sympathy, aid and pa
triotism Of all Of her citizens 10 this the hour
OF her troubles. And, whereas, the expenses
OF establishing, maintaining and carrying on
all governments must eventually be paid by
the people thereof now, therefore, we, the
merchant citizens of Memphis, and the people
Of North Mississippi, West Tennessee, Arkan-
sas and North Alabama, having a unity of
commercial interests, by our agricultural and
mercantile relations through the city Of Mem
PMS, are DESTROYS Of doing all in our power to
assist The Confederate Government, and at the
same time relieve the people as far as possible,
il bearing the necessary burdens incident up
on a successful prosecution OF the var there
fore,
Resolvsd, That we most cordially promise
and pledge ourselves to second, aid and assist
the Government Of the Confederate S ates
in all her laudable sndesvors in pTosecut-
ing this war, both with men aud money, and
for this purpose do respectfully and uBhesitat-
iDgly petition, request and advise the Con-
fedeTats Congress, now assembled at Rich
mOEd, TO pass a law by which the Government
shall become the owner, a. a fair TsmUnerative
price, OF the entire cotton and tobacco crops
grown this year within the Confederate States,
she paying for the same in Confederate
bonds, bearing s per cent interest, payable
semi-annuaiiy,) having not less than twenty
years to run, or in Government drafts or
treasury notes. at the option Of the planter,
And VIC would recommend the Government sf
ter thus purchasing TIE crop Of tobacco and
cotton to store the same in convenient ware
houses at the usual marts Of trade, holding the
same to be sold in whole or part whenever the
existing blocEades shall be removed from her
ports or she NAV deem It advisable so to DO,
always supplying her own citizens at a fair
price with whatever amount Of cotton or to-
b6cco they need for home manufacture.
Resolued, That the cotton and tobacco crops
thus purchased is the true representative Of
labor, which is he real bona f9s wealth Of q
nation sRdis equal, if not superior, to a metallic
basis for q paper currency ciTcuiation-wheTe-
fore we deem it advisable and request the Gov
eminent to issue drafts OF Treasury notes OF
large and small denominations which shall be
receivable by law for all dues to the COnfed-
crate States, and made as}far as practicable
The circulating currency Of the people: the
amount Of such issues being regulated by the
necessities Of the Government and the amount
Of productive labor thus held in public ware
houses.
Resolved, That We hope and believe by FOL
lowing SOM such plan as is here indicated,
the people will have a good, sound and sufi-
cieBt currency for ali necessary and practical
bic purposes, equal, IL not better, than the
present bank note system Of the c0untry-that
the productive energies Of the different States
viii be stimulated and the Government viii be
enabled 10 borrow from the Agricultural re-
sources cf her own people, c sufficient amount
of money to carry on the war 10 a sue
cessful termination: and at the same tim
bind all her citizens by Interests both patriot
and pecuniaTily to uphold her individual
nationality.
Rssolrsd, That We FL Their recommend that
the Government, in the employment Of it's
agents 70 purchase tie cotton and to-
baccO crops, will instruct and authorize them
TO adopt all necessary pTecaution to protect The
against the marauding Of the enemy in
whatever marts they may be stored.
RssoIDsd, That, feeling every confidence in
he Justice and liberality Of tie Government, |
We cheerfully conlde to them the responsibility
Of fixing the price Of cotton and tobacco, sub
isct TO the classification Of intelligent factors,
suggesting ten cents per pound TO Be a fair re-
munerative price for middling cotton, and sew
en- cents per pound for average crops of to-
baccO.
Resolved That in indicating a price for cot
ton W. have fixed on such figures as would
rule from o. to Is cents, according to ciassif-
cations averaging about ten cents, which we
is about The average Of the last two crops.
BesolUeis That the secretary Of this meeting
be instructed to send a copy Of these resolu-
lions 20 the President, Vice-President and Sec
-etary Of the Treasury Of the Confederate
with a request that they be at once
LAID before The Congress now In session, and
That the city press OF Memphis be requested to
the same.
The following resolution was presented by
Trezevant, but was afterward withdrawn
By him:
ResolEed, That the several State legislatures
Of the Southern States, be respectfully request
ed to take into consideration the policy of
giving these treasury notes such q circulation
ss they would ohtSin in the community, if
at par, in payment Of State dues and
debts.