Norfolk day book. [volume] (Norfolk and Portsmouth Va.) 1868-1880, 1869-05-27
Senator Sprague ON the Cot
tom Tax.

OA ooleSuay AaSt senator
Sprague delivered an address
before the Memphis CONNER
cial Convention, from which we
take the following extract
4 stated in my place in Con-
gress, when the tax was on
cotton, that if it was not taken
Oft it would drive Sea Island
cotton out of the market entire
ly in a couple ofyears. I tell
you, southern friends, that if
you don't come to the rescue
soon cotton will cease to be a
profitable article of produce
England is doubling her pro-
duct of cotton in her Indian
possessions, and, with France,
is CO. operating with the King
of Egypt to raise a large sup
ply of cotton in that country
which is said to be a better
staple than the best ever sold
in the New Orleans market.
In Brazil they occupy the same
position; so that we are to have
many competitors in the rails
ing OF cotton. We must, there
~
fore, increase the produce of
our lands so as to successfully
compete with these countries.
The position is alarming, but
if | shall succeed in urging
you to take some steps in this
important matter, l will be re-
paid for my coming to Mem
phls: The country at the
present time is like Spain be-
fore its fall. 1t had been
powerful nation, and had COM
plete power of all the West In
dies; but where is she now?
Let those who read history
answer the question. They will
bear me out. This may also
become the condition of the
United States, if you do
not exercise more self-depen-
dence. You imagine that by
your own strength of arm you
may and can maintain the sit
uation and avert all this F.; but
I tell you there is a power you
cannot control unless you bring
a power of sufficient force and
strength against it, and that
is the money capital which is
working night and day. It is
this that has made England
and France powerful. Before
England controlled this vast
capital power, she was torn
nearly asunder by dissensions.
Disturbances were frequent.
ana she was always In a state
OF revolution. The monopoly
was broken up, and the money
is now used for the furtherance
of industrial objects.
Through this means Eng
land has been enabled to con-
troll one-thrid of the trade of the
globe. In England anarchy
is but name, and the House
of Lords, although heredita-
ry, is also but a. name, and the
same may be said Of the nobili-
ty of the country. The people,
from the time l have referred
to, have prospered, and the
want of it gave us our civil
war. Ifyou had had the pow.
er J have alluded to you could
hold slavery, but the money
power would have been in the
masses. They would have
been found mutually aiding
each other, while the black man
would have been held in proper
subordination. What however
has been the consequence l need
not tell you; you all know. We
took our law from the father
lands, but in doing so we turn
ed the money leaf down. Those
of you who have read history
know that l am telling you
what is a portion of history. I
did not intend to make a speech
to you when 1 arose. 1t was
only my intention to thank you
for the very cordial reception
you have given me, and to ex-
press the hope that the greatest
harmony would characterize all
your deliberations. will again
say that the money capital
ought to be used for promoting
the best interests of the coun-
try; for carrying on the trade
and building up the country
instead of keeping it concen-
trated and centralized. There
i L