Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1862-07-11

DEPARTMENT OE DlAlhf :
Richmond, Va, May 10, 1852. j.
SIR: In answer to your communication o.
this morning, 1 have the honor to state that this
government has no desire to destroy any cotton
| belonging to n~eutrals, but on the contrary, Is
/ willing to extend to it full protection while IN
its power provided, the like protection can be
] made effective, when the cotton may fall into
/ the possession of the enemy. The past conducl
/ Of the United States, and the passive attitude Of
neutral nations, whose rights have been Vlolateo
by the United States, have satisfied US that /
/ cotton belonging TO ~neutrals be allowed to fall
into the hands of the enemy, it will be seized
and appropriated by them regardless OF neutra
\ rights, and that neutral powers will fail to afford
any protection to the rights Of their subjects
when thus violated.
II, however, as you suggest, any official as
| surance shall be formally communicated by the
/ government Of any neutral nation to this ma
ton, Of a nature to satisfy US that cotton be-
longing to the subjects of such neutral nations
shall be effectuallY protected against seizure
and appropriation by the enemy, II allowed tC
fail into his possession, this government VII
nave no hesitation in issuing instructions to re-
| frain from the destruction of such cotton, even
when exposed to seizure by the enemy.
l am your obedient servant,
J. p. BENJAMIN, Sec. Of State.
g. G. Baylor, Esq, Richmond, Va.
Commenting upon this letter the Mobile Regis
ter devotes to it near a column of sound and
reasonable remarks and suggestions, which we
cannot DO better than substitute for any Of
cur OWL. The Register says: Taken in all
its bearings, this is perhaps the most i'm
portant State paper which has yet emana-
ted from the Department for Foreign Affairs
and has, we understand, been duly cOmmunica-
ted to the diplomatic corps at Washington, and
ere this is fully known in Europe. We propose
to outline the more important features of this
decision of our Cabinet as they involve the pO-
ifcal, commercial, and financial interests Of the
COME derate government and the Southern peo-
pie.
The position Of Mr.. BENJAMIN is in exact &C
cordance with the spirit of the Paris treaty of
1856, so far as the commercial rights Of ~neutrals
are concerned. Nj. Golden, in his late COM
munication to the Chamber of Commerce Of
Manchester, England, has, as our readers are
aware, fully elaborated this subject. Mr.. BEN
yA,INE's letter commits The Confederate govern
ment to the great principle of commercial free
dom and civilization laid down at Paris, and
thus takes the Southern question out of the mar
row and limited position which it has heretofore
occupied in Europe. By doing SO, our Secreta,
~ Of State has very wisely given the great pow
ers q basis Of Intervention, which enables them
to act, not upon an American issue, but in the
interest of all nations. That the action viii be
speedy and decisive, we do not for a moment
doubt. The question Of recognition and armed
Intervention is no longer an American question.
As the foremost champion of the commercial
rights of ~neutrals during wal, we make allies
of England, France, Spain, Prussia, Belgium,
and Holland, and the other manufacturing and
commercial States, as against the blind hate and
inOrdinate greed Of the mObocratic North.
has most opportunity raised the issue for
in in q manner very offensive to foreign ma
lions, and the protest of the British, French, and
consuls of New Orleans viii serve to &C
c~elerate the action of the great powers. The
question has reached its crisis abroad.
Stewards silly boast that be would furnish a
supply by conquest, has been dissipsted
by the action Of our people in the Mississippi
valley. The South now stands before the world
with her capacity for political independence
again gloriously vindicsied on the bloody field
before Richmond, and a~ntagonizes the CONNER
,ial barbarism of the North with open ports,
rec trade, and the commercial rights of neu-
gals.
Commercially, Mr.. B%ENJANnN's letter is Of
he first consequences to our people. The posi-
ion of our government is practically an iusur-
.nce Of the crop against war risk, and secures
hereby the immediate convertibility of the sta
DE. Indeed, large quantities of cotton have
changed hands on this basis, and prices
re rapidly advancing, With the sale Of the
.rop for neutral account for future delivery, the
lie blood of prosperity is again poured along
he various channels Of domestic trade and in
lustry. The sale of the Gotten crop enables
n parties to meet their obligations, strengthens
and public credit, and stimulates eHter-
Prise. Nor are the financial consequence the
east important part Of the conversion Of the
,rop. The cotton must be paid for, and no man
It all acquainted with the necessities Of Eng
and and France, but must realize the signif-
fact that London and Paris cannot posi-
by pay for our cotton crop in specie. 1t must
1s paid for, therefore, to an enormous amount,
n goods. This necessity involves open ports
IS a consequence because, without unrestrict-
d import and export, the heavy debt of Europe
be cancelled. The exchange ~transac-
ions involved in his transfer Of the cotton crop
or neutral account, win, as a matter of course,
,e made Independently Of New York. In fact,
new financial channel, deep and broad, is cut
S it were, at one blow. The basis of the fnan.
ial and commercial independence of the Con-
ederate States is securely laid if our OWE mer-
hsnts viii do their duty. Direct Importation
nd expectation should follow the 6ow and
bannel Of direct exchanges.
We would say a few words, therefore, to the
merchants Of the South. In this great revolu-
ion, there is a plsce for every man, and every
nan should be in his place. Instead of shaping
transactions with the view of speculative
ans out of the necessities Of the people, our
lerchants should bend their energies to the
establishment of direct trade with Europe, nor,
efoTe peace is proclaimed.
The commercial independence of the South
an only be achieved by the combined efforts
nd timely preparation Of our mercantile class
While our brave troops are enduring the hard
hips of camp life, and pouring out their blood
u the achievement of our political i~ndepen
ence, let it not be said that our merchants, with
cupidity inherited from the Yankees, remained
t home doing nothing for the accomplishment
that grand work which is peculiarly their
lission, employing their capital and skill only
| the business Of speculation and extortien
he opening of our ports aud the interfering Of
commerce is now, in all human probability,