Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1866-01-04
ON CHANGE.

S&N S&&&&AA A-
We have a sincere conviction that we are
amiabIe. In addition to tbs, II the late war
has bequeathed 70 Us one moral which subo-di-
mates every other doctrine Of It's inculcstloE, 10
Is to avoid alteration. Two reasons for this
obviously suggest themselves One is, that we
might get the worst Of 1t. The other need TO;
be stated, the first being satisfactory. This
natural, and thoroughly educated desire for
peace, has been sorely exercised by the Pred-
dent OF the Nemphis.& Charleston Railroad.
Il is sufficiently embarrassing 10 be taken to
task. when one has wfllfully erred, but to be
suubbed for what we fondly supposed was a
praIseworthy act, is enough TO arouse the fallen
humanity within US.
In an article published some time since, with
reference 20 the trade OF North Alabama. we
offered several statements. which bore repr0seh-
fuuy upon the Memphis & Charleston Railroad.
Statements OF a similar character had reached
US before, but In the instances under review
they were avouche by 50 respectable a wit
ness, that We decided to allow them a public
expression. The purpose which that publca-
ton contemplated, could hardly have been
I nlisconceived by Mr.. Tate. except on the IN
founded suspicion hat he was personally I'm
peached. The general tenor Of the article, and
It's express declaration show that the Injustice
Of awarding an ez-pare judgment, never en-
tered into its design. On the contrary, the
Memphis & Charleston Railroad was Invited.
and even invoked, TO vindlcate Itself from
charges, which seriously injured Memphis. II
they were true, and which grossly t-aduced It's
own fame, II they were untrue. Reports were
in popular circulation, which reelected a con-
siderable dissatisfaction with the management
o. the Memphis & Charleston Read. We col
lated these reports, and opened oar own col
umus TO the road. as a channel or defence.
surely this evInced no spirit, inimical 70 It's in
terests. We claim to be free from all bias, hos
tile 70 Il, or Is president We own no stock in
any rival route-a circumstance we sincerely
regret-and We certainly have no Ill viii against
Mr. Tate. So far from Il, vi only know that
gentleman by character, as a capitalist, and a
capitalist is an object, 20 which we always lift
our cap with respectful Difference.
Our surprise may therefore be wei imagined,
when on our return to the city, we read the
communication published in our absence, over
the official signature Of the President o. the
Mem phia & Charleston Railroad. One portion
Of II, we perused with unahected pleasure. We
refer 70 that part, which presents a comparative
table Of the tariffs, prevailing on the different
roads connected with Memphis. We congrstu-
AkaM a AhAE AHE1 AaA@H AEAAa4HE N0AA@AAs ~
suming these figures as a basis, It is put beyond
debate, that the Memphis 4 Charleston Rail-
road Is the cheapest route which has to 90 with
this city. Il furnishes a triumphant vinulca-
u0n Of bis road, and himself. which would
seem to be his cardinal purpose and LIencss
the voice OF detrsction, IN a manner at once
summary and conclusive. This Is precisely the
1sn0seneTt, which our obnoxious article sought
70 PROVOKE. We were anxious TO see the road
divest itself Of the odium, which q falsely-in-
splred public opinion attached 10 it, and we
adopted as we thought a. the time, the shortest
and most satisfactory method to achieve It.
Ead Mr.. Tate furnished rs with the facts TO
which we now allude, instead OF presenting
them himself, We should have published them
with pleasure, and urged them with honest
zeal. II in the course 81 the argument, it be-
came Necessary to diverge into an episode ofhiEi
eminent public services, the history OF those
services would perhaps have fallen with more
potent effect coming from the pen Of a third
party. This however is matter OF taste, which
We do not assume 10 discuss
That feature Ct his article which particularly
excltss our amazement. Is the theory on his
part, that ve were actusted by an elaborate de-
SIRE to impuzR himi individually. We were IN
der q genera. impression, that the Affairs Of a
railroad were entrusted 10 It's directors, and did
not suspect that the president absorbed ali min
isteriaI functions. Mr.. Tate however appears
20 consider, that no rejection can be aimed al
the road, which is not directed personally
agsins; Lim. IA fact, a disinterested person
upon reading his Communication, might not
uuraturslly INFER, that Mr.. Tate and the
Charleston r R. were convertible terms, each
being but a convenient SYNONYM Of the other.
Vow we blush 10 confess, that ~. Tate was not
in our mind when the article in question was
<ritten. We wrote under what We conceived
% be the iustiEations OF a public duty, and be-
came aware for the first time, when we read
Nj. Tate's letter, that We were running an IN
conscious tit against tRe rsciitude OF his OH
cial life.
We repeat thea, that so foreign 10 our mind
is The idea OF proclsimiIE q crusade against the
Memphis & Charleston Railroad, that we are
rejoiced 70 sec It purified from sspersion, and
hold sur columns always open, 10 advocate its
interests, and thus contribute 20 its prosperity.
And 81 for its respected president, we deem il
not impossible that it shall yet fall to our lot,
to compose a euiogisric biography OF him, COM
memorating his great services IN behalf of
Memphis. These OF our cotemporaTies who
have published M. Tats's communication, viii
sincerely obIge us by according a similar favor
to this, our reJoinder
Exchange.
The partial activity which New York Sight
exhibited on yesterday, has acquired to-day a
more general dominion A briskness Of move
ment g its characteristics At nearly all Of the
counters, and although none OF the heavy
transactions, which we're q spasnodic feature
Of yestsr6sy, appear IN tp-Gays marke., the
operations ara nevertheless sufficiently impos.
Ing and numerous, 70 diduse q cheerful tone
- 10 $500 HI
count, and the selling rate. generally, at par,
although rising In exceptional instances, 10
per cent. premium.
The improved quotations Of New Orleans
sight, have not been Illustrated to-day IN any
considerable trausacllous. - movement on
the whole Is sluggish, and only trining opera
tons in IL are reported to as At its previous fig
ures buying at par, and selling at per cent
rrsmium.
Pine Bui,s re are grleyed 70 relate. are grad
ually becoming extensively dun, and even city
scrip-ish. Holders have ceased to offer them
at the couHters, and the counters sympathet-
caily abstain from dispensing them. We have
again 10 report, both New York and New Or
leans, under a nominal head. Five-dsy Bills
on New York = per cent OF, Ten-days54 =, FIJI
teen days ! per cent, and Thtty-days "a per
cent 81 FiEs-dsy BILLS On Hey Oheaasl PEI
cent. on, Ten-days "a Fi~foeen-days ~, and
Thirty-days per cent on
Loans.
The stream OF applications for discount IS
continuous, and heavy, and va are glad 10 an
nounce, that the response on the part Of the
Bank grows 8 little more reciprocal Quite an
array q operations age tepoHed to-dsy. q IN
changed quotations, Prime F1ys-days Paper Is
taken az = Per cent. discount Ien-days az y,
F~ineen-days7 q, and ~Thiry-days at I per cent
discount
CITY Scrip presents an aspect OF Unsuitable
dnlaess a. the asriHal elts % bgying, and
% selling.
s~even-Thlrties offer no pnseomly boast, over
the fallen fortunes OF their near neighbor in
distress We therefore quote them nominally,
at % bHying, and Is selling with accrued in
tersss.
Generally speaking Gold Is duh, manifesting
Itself in small transactions, ai a buying, and IS
selling. Exceptional TO the above, we were ad-
vised Of one large buying operation, ct 49,.
Silver exhibits to-day 3 marked Improvement
In demand, and we are notified Of considerable
~trans@esons a. iram - e & buying, aud 20
selling.
Uneurrent Funds
The threatening cloud which has lately over
eanopied the horizon OF southeen money, be-
gins to disclose a vague Suspicion Of silver lin
ing The improved requsst adverted UPON yes
teraAyl has lost nothing OF its promising tone,
sha al OF TIE transactions reported to-day, ex-
hioi great nrmnsss 81 rgnae. In none oftbem
however, was there any appreciabie variation
In TIE quotations previously submitted.