Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-10-21

owing 20 the failure OF eur Chamber of
Commerce to properly instruct them as
to subscriptions Of stock, were placed in
8 position OF painful embarrassment,
growing out OF the adoption of the report
Of the COMMITTEES on General Business,
presented BY Gen. MALONE, As follows:
The Committee charged with preparing
business for the Convention, and to
whom was referred the report of the
COMMITTEES appointed by the Bristol Con-
ventiCu beg leave TO say that they have
e~cusideredthe recommendations mGdeby
the Bristol Convention, and recommend
their approval and s8opti0a eythis Con-
venliOn, and il fartheranoe thereof pre-
posethat subscription of 1900 900 be here
and now INSIDE, by the severn, Interests
REPRESENTED IN this body, under the act OF
the General Assembly OF Virginia iHeor-
porating the q international Commercial
Compsny OF the city Of Norfolk ~ and
for this purpose, they herewith submit q
form of subscription for the signatures of
subscribers; snd further, your Commit
tee, st the instance of the Board Of Trade
OF Norfolk, recommend the adoption OF
the following resolution
" Resoyued, That this Convention halls
with great pleasure the interest mani
tested bv the Wsstera and Northwestern
states IN the Water-line Communication
batweeR the Valley of the Mississippi
AID the Atlantic Ocean, by way of the
Ohio, KanaWha End James river; and IN
view of the Importance Of this work to
the whole country, THE Convention looks
forward hopefully to its speedy compile
tor Gs an Improvement OF great and
immediate national importance"
In presenting this report, Gen. Malone
remarked that " It was an admitted fact,
that the productive of the
country interested il more than ample to
sustain the enterprise now about TO inau-
gurats a scheme for the interchange OF
cernmoGitieg with Europe and our eastern
Atlantic cities. The entire exports OF the
United States for the year 1856
amounted 70 over three hundred and ten
millions, Of which the Southern
States exported, direct, over one hundred
and fifty millions, to say nothing
of the amount exported through eastern
cities. The imports necessary for the
South for the same period amounted to
over one hundred and bhifty-one millions,
Of which she only imported over twen-
ry-one millions. Sne paid eleven mil
lions for the services OF middie-men, and
10 outside commissions on tbesame three
Millions mere. Ia 1860 the value Of
Northern productions were one huDdrsd
and siSty-fOur millions, and o. Southern
two hundred and eight millions, while
the imports o. the North were three hun
bred ald tRenty-0ne millions, and of the
South forty millions. But, it needs no
-. ,ACar fF,aE --V,- a,aEf-r -,
sesses the means for conducting d.
rset trade with Europe. The question
bef9rs this body is, shall We agree
Cor the organization OF the Steamship
C1mpRny, andthe immediate establish
ment Of The service. These make Up the
sun and substance Of the problem you
nave to solve. II is within the compass
of the ssgsFRl interests OF Virginia and
T5nuessse to make up the small amount
OF capital necessary TO establish DIRECT
trade, which viii securet3 both q degree
Of PROSPERITY not ether wise attsinabie.
The COMMITTEES would as soon doubt
their own Individual loyalty to the
scheme Rs 90 think that such q response
would not be made by sill sections as to
place the contamination of the
enterprise beyond peradYenture.
It's success depends OF making
!. the common caufs in the cost and
Of the entire section over
its beaehcisl effects Will be felt
40 other plan viii protect the interests of
I'll parties. The Goumittee recommend
he policy Of inviting the leading Amer
Steamship Liue IN charter and
steamers sailing under the Brit
.sh flag. They think three hundred
thousand dollars enough for present pup
poses, and to form the basis Of more ex-
ended operations hereafter
MIR. PHILLIPS, cf Tennessee, applauded
Gen, Malone fur bis seal and enterprise.
cut stated that there was much yet TO be
done TO improve the railroads between
MS point and Bristol. He was net in
Of taking stock in the steamship
Inc.
To which Col William Lamb, of Vir-
yinia, responded ss follows:
"Aud slow me, In the outset, TO say
! was very much surprised to hear a
Gentleman from Tennessee arise and tell
IS that bis people did not expect to sub
TO this steamship company. / can
lot believe that he represents 81 the Dell
sgates from Tennessee. The gentleman
aid he was q delegate to the Bristol Con-
7entiOn; and what was the Bristol Con-
called for? Why It was to raise
steamship line to run direct from Nor
ok to liverpool, Certainly, il they ex-
Jected uH in Norfolk 10 raise that com
)anY, there was no need ofour travelling
to BdstOl TO do it. fCTies of that's
o. And besides, was not the gentle
nan the chairman Of the business COM
nittee th8t reconnended the Appoint.
aent OF tbis very committee to get this
a-A -. v.fea uuL-,-94.0- -
am incorrect, | hope he will cOrreat
ne II notI must repeat that / am 81.
oaiehed that he should open this cause /
y stating that Tennessee viii not ioin
Virginia in Lhis great scheme. :
"By the way, I want 60 say In regard toll
ONE of the gentlemen from Tennessee
akiDg a share for each OEe of their chill.
reD, that when l went to Knoxville, L
as before almost every door at least
childrRus }l2e oldest OF whom were :,
andy able to Keep The youngest out of
be fire. daughter, But in that case
on can take one for yourself and one
n the old woman
J. r Clapp, from Memphis. wa of the
thata constructive reflection had (
cast upon the delegation from Ten
essesaby the gentleman from NORFOLK.
oil. Lamb. hssdido not believe that IT. {
-ss individual sntegpriss that sustained !
Ich enterprises as was advocated. In
is opinion. eOpceRTsted capital was {
ecessary, and Memphis was disposed to !
D as much for the advancement of the /
.lterprise as any other location. He did {
OF believe thar the dslsgafi0n was sad
10 make the contribution. and {
time 10 consult their constilu -nts. I
Col. Lamb arose and stated that there I
no purpose 10 view TO reflect upon I
but urged The Importance Of Z
to thescapital stock, asked i
matter ofvital necessity to secure :
70 success of the enterprise. j
A gentleman freEn Memphis~asled
the proper legal provisions had q
zen made by the Interpretations of the {
International Commercial C0mpany.n {
Col, Lamb answered 1he gertIeman's
ga s5srss nos5Gan as sA