New-York daily tribune., 1865-10-27

fOru lIPl
of some of these States the following PARTICULARS
have been collected. South Carolina, A'OOWo; MIS-
souri, 35 900; Tennessee SsO0OO0i uo gueranteeu'
- 800 0Oo North Carolina ssOo 100; ueopga soa ~
900; Arkansas, 100000; Nirginia, XII ,2ooVo;
Louisiana ~, 0O0; total &23WnUo 10 these
figures must be added at least a2oOoo 70 represent
the debts Of the cities, counties, ranroa's pshs' ahu
other corporate bodies But IL does not include the
bonds of Mississippi which, with the arrears, no"
amount to a4OOJ 600 dnd which must De se,lcd some
day) neither does il Dciude any variety vi Ibaeo'eu'
ness arising ont of the war; but The st only represents
those detts which for more than quarter OF aeehtuy
have b existence The total amount OF theso arrears
cannot b. less than S4W0Oo. Inc aggIega'e @ 60 OIL tns
ibis OF these States is not less than w. ana
xnerience has show that the longer tue settle
ment of the debts OF States which have become emDar
r1ssed is DELAYED the greater the dieuty thc enihofl
ties ind in resumipg tneir former enviabe POSITION ana
the worse the terms offered TO the bondhOders and
the slower the return Of the pubic credit On these
debts for nearly 30 years the dividends have been PAID
with amount of regularity that had never Known the
slightest suspicion of default. The money had been
borrowed for pnblic purposes; bad been wisely
and iudcously oxpended the public works we're repro
ductve they exist still. ard thongb IN many instances
Injured by the war yet not 10 great an extent Dul
that few months will restore them " their Original
position In reviewing c.; position we must not allow
any desponding feeling 10 arse that the ehange rom
slaves into freedmen will in any way lower the ability OF
the States TO pay the interest on these debts must
not suppose that second Jamaica Will arise IN the
States There is marvellous difference between them
In the West India Islands the owners were absentees
who oay regarded their properties being the means
from whence they could draw large incomes. ihe
owners cared only for their rights, and dsregarded
their duties here the is dissimilar as possible
The owner is in the midst Of his people and whether
they are slaves or free they ore the same faees oound
together by mutual dependence and each reqnflhg the
other for the joint progress OF ootn. Inc hmeicanS
are not nation 70 encourage soth and have no nten'
ton of freeing the negro TO permit him 10 become uh
idler or one less productive than heretofore lhere
are many other points to which must dIaw your az
teut.on as giving grounds for hope Formerly labor
vas derogatory in the South and in consequence hcre
was large class too proud TO work; VINO were CON
sumers but not producers; VINO were oi no aut
10 the BODY potic This class will hereafter either MI
mere important position, or be superseded by more
energetic people from the North aud from Europe'
Another element Of prosperity VIII be that the uo,-
ernlnent national currency will permeate the cotton
States and i'll the vacancy arising om the wltnurawai
of the insecure bank notes issued by The numerous 70
called tankS This currency, being equally valuable IN
every part Of the Union. will stimulate production.
trade and commerce 10 an enormous degree paper
currency is "a necessity In new country. Aholne'
reat point In favor is the fact that large poiuo
these debts are held in the States which have Issued
them al therefore heir own people are interested ia
the resumption Of the payment OF tie dividend I.e
basis Of our operations il 20 fund ell the arrears up 10
tho presen. date and II needfnl absolutely something
mcre in adyance) into bonded debt bearing the same
rate Of interest the original loans Dui ha'us 'e
coupons payable in London, with such SINKING lund ~
shah insure tie payment Of this new deOt WHINE ~
yeqrs isIre OF Justice ought 90 mention thht
! ihis settlement emanrtcs from corporation 10 tEe
Stlte aud not from ns. We find the corporations are
/ alive thtr position, Dut, vel, Tue "a
deb,od States baye made sign and this is the reason
wby we propose 10 take the initiative. Ia seiecIlne
your committee beg 10 point out tbhi II y ehehcy
desirable that the gentlemen nominated shouiu nave
some .pecaity when particularly tits them for the -
alton Either the individual chosen should have The
81 Ing ~ Rsrsonsy seen res,osn. & 10 'ss 4.
dusntial interest in these dc6ts. In majority Of the
naHes which shall submit 70 yoa these Two special & ~
earlier years resided upon or In the HeghDorhood oi
inany Of the spots which have become famous as tho
batteGeids Of the eSOu'h-FredercEsburg Chanceil0rs
Vile Richmond. Chattanooga and the valleys Oi 'ir
ginia North Caroline. Georgia, and Alabama. ! now
beg 70 introduce you Mr. George GOwsn, OF the firm
OF Gowan MAYS whose firm for two generations has
been intimate with this particular subject and asO d.
Black who is an American and deeply interested In
the rceum.tiQn Of tle payment Of the dividends.
d.. Gleek begged 10 Say 81 woi1s aooui hls own
part o. Amsrica-he Southern States. 1t ~as thought
that Il. negro mast be there. and that nothing bat
black labor would DO there's but that was great mis-
tale The Slavery that existed In the southern STATES
was cursed from the beginning OF time 10 the preseh,
day lclcersl but ut length that land was JelNered
from what Lad been thought 10 be 80 valuable, bu'
which Was really the sost Infamous influence tat ever
fell on any society Hear. hear EnIopean ehigra,
zion and The labor of white hands In tho Souib hhd
been stoped by tne existence OF negro slavery All thc
agricultural operations tic South had been performed
by slaves and the country as 1t existed before tIe
Instead OF receiving the amount OF cotton they
obtained they should long ago have douDleu ,hat
amount II tie energy 81 whit" men not hiIald oi
was abolished men of energy and influence would go
among ein and In a few years larger quantities oi
cotton and tobacco wOuld bo produced hna were pro-
duced before 1t appeared rom The official rotnfhh IRON
Warrington that tho States which had been recently
Slave States the produce IN the year loO amounted TO
2 600 OOO bushels OF wheat 400 OOOOOO bushels OF IN
dian corn - COO 90 bushels Of oats Of rye aud soe
other prodacts tie produce very little under that
amount OF peas aud beans there were 1900 OOO bush
els, butter 100 600 600 n; WOOL 100000; rice 2oo'
coo ODO and tobacco 400 600 900 h And they had been
nj, In led vi
cattle IN proportion 10 their population than any Otbcf
part OF Tie world. He asked cou. the country be IN
salubrioas that produced such an amount as that
Along the sesbOafd among the Sea Islands ana
swamps, was 80. and 10 but the negro could i've
aud work there. but in almost all parts OF the
interior the country healthy. That salubroas
country freed from the Of Slavery and the great
and heavy weight thus placed upon it, was far better
hitea ihan any other portion Ct the world for ire pro-
ducton OF cotton. Was il possible that that country
could be kept back when labor was made honorable.
and It's developed azly but with energy
lie said these few words 10 the opinions that
seemed TO prevail regarding tho Southern States.
The Chairman proposed that the following gentlemen
be appointed committee with power to add TO their
number To represent the holders Of stock aud bonds on
which the interest is now unpaid-namey Mr.. l.. IL.
Hazlewo0d Mr.. Scholciield, M. T.. Mr. Geo. Gowan.
Dr. Black. and the Chairman (AlI. Hazlewood).
A Bondholder-How do you pro. ose TO carry out
your intenionsf
circulars 10 the Governors TTcasurcrs Of the StaIs
inquiring how they propose TO meet demands. We
will tell them that fthey ere prepared 10 fnnd the ar
renrs and pay of the amount within reasonable
period we as a committee are prepared to recommend
YOU 20 accept these terms We tbink II very important
t. have the div dends the new stock payable In this
country. .
A bondhoder hoped that every tconsideration would
be extended to the Southern States In consequence Of
their present condition.
The resolution for the appointment OF the committee
was unanimously adopted.
The Chairman then proposed the following resolution:
That in consideration Of the committee giving their
fl.a nf ms
and undertaking the issue Of the new bonds commits
sion OF one overdue coupon dividend, bearing half