The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1869-05-25
Senator SpraSuc Oh the Cotton Tax
oua the Condition OF the Country

ON "Wednesday last Senator Sprague de-
ljycrcd an address before the Memphis Com
mrrcial Convention, from with we take the
following extract
Il stated in my place in Congress, when
the tax was on cotton, that if it was not
taken off il would drive Sea Island cotton
out of the market entirely in Il couple of
wears tell YOU, my southern friends, that
If YOU don't come 10 the rescue soon cotton
will cease to he Il profitable article of pro-
ducc. England is doubling her product of
cotton in her Indian possessions, and,
with France, is co0peratin" with the King
Of Egypt 10 raise a large supply of cotton
in that country, which is said to be Il better
staple than the best ever sold in the New Or
leans market. In Brazil they occupy the
same position 50 that we arc to have many
competitors i'll the raising of cotton. We
must. therefore, increase the pro-
ducc of our lands SO as TO success
fully compete with these countries. The
position is alarming, but il ! shall
succeed in urging You to take some steps in
this important matter. will be repaid for
NY coming to Memphis. The country at the
present time is like Spain before its fall. 1t
had been powerful nation, and had COM
plrtc power OF all the West Indies; but
where i she now: Let those who read his
tory answer the question. They will bear
me out. This may also become the condi-
ton of the United States, if you do not cX-
crciSc more Sclt-dcpendcnce. You imagine
that by your own strength OF arm YOU may
and can maintain the situation and avert all
this but tell youtherc is power YOU can
not control unless YOU bring Il power Of suf
tici,llt force and strength against it, and that
j. the money capital which is working night
and day. 1t is this that has made England
and France powerful. Before England con-
trullrd this vast capital power. she was torn
nearly a~under 10y discussions. Disturbances
were frequent, and she was always In state
of revolution, The monopoly was broken
IN. and the money is now used for the furthe-
rance of industrial objects.
Through this means England has been en-
ahrd to control onesthrd of the trade Of
the .lohc. in England anarchy is but 4
uaur, and the House of Lords, although
hereditary, is also but Il name, and the same
may hc said Of the nobility OF the country.
The people, from the time | have referred
10. have pr0Spcrcd. and The want Of 1t gave
Il> our civil war. Ifyou had had the power
| have uIIudedtoyou could hold slavery, but
the money power would have been in tn"
masses. They would have been found mutu-
ally aiding each other. while the black man
would have been held in proper subordina-
ton. What, however. has been the con>c-
qucncc need not tell you-you all know.
We took our law from the tuihcrand$, but
in doing 80 we turned the moncy-lcaf down.
Those OF YOU who have read history know
thll am telling YOU what is now Il portion
al history. | did not intend 10 make Il
speech TO you when arose. 1t was only
my intention TO thank YOU for the very
cordial reception YOU have given me, and
To express the hope that the greatest har-
m0ny would characterize all your dcllbcia-
tion>. will again say that the money capt.
tai ought to be used for promoting The best
interests Of the country for carrying on
the trade and building up the country III
stead Of keeping II concentrated and cen
traliZcd. There Is danger TO our financial
institutions from this source, and it Is well
known to me that those capitalists who con-
troll the money are anxious to get Il stronger
Government than they imagine the present
one 10 be, rs they wish to protect them
selves and their ill-gottcn gains from the
people whom they have crushed. We have
even now in New York Il paper called the
FmpcriGIiSi. established for the purpose OF
openly arguing in favor Of IN empire. They
wish 10 strengthen their il-@otten power,
and control, us they are now doing, bust
ness, society, and the Government, whom
they have us completely under subsection a>
ever Il domestic negro was in white family
previous TO the war.