Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1869-01-20
Meeting Of the chamber Of Commsres.

To the Senate and House of Representatives
of the Congress of the Uuited States:
The Chamber of Commerce of the city
of Memphis, believing the reclamation OF
the overhowcd lands of the Mississippi
to be fraught with interest to the whole
country, beg leave most respectfully to
submit this memorial to the Congress Of
the United States.
The alluvial lands subject to inunda'
ton by the Mississippi river are about
$4,000 square miles, or 10000, 600 acres
of land. Formed by the washings oil
many centuries from the entire region
drained by the Mississippi and its tribu-
taries, constituting more than half Of the
territory of the United States, combining
the salts, mineral properties and en-
riching elements of the immense regi on
thus drained, they may properly be
classed with the most valuable and fer
tile lands on the globe.
Since Holland, once vast morass or
swamp, the greater part below the Level
of the sea-.
by the energy OF Its inhabitants, MAS
been recaimed--the sea and the rivers
which penetrate it held in bounds--we
do not permit ourselves to doubt that the
overAowed lands of the Mississippi, by q
proper system of levees, can be effectu-
ally and permanently reclaimed.
Allowing one-fourth part for lakes,
rivers and forests, the remainder which
can be reclaimed and cultivated is about
canal to the acreage of the present cultl-
waited lands of Maine, New Hampshire,
Vermont, Massachusetts,, Rhode Island,
Connecticut, New York and New Jersey.
In 1860, although the area opened
cleared and cultivated, compared with
the whole, was about as the seam Is to
the garment, they produced two hundred
and thirty-one thousand hogsheads OF
sugar, fifteen million gallons molasses,
and near one million bales, or one-hfsh
of the entire cotton crop of the United
States. 80,
The levees heretofore constructed, did
not afford ample water way-they were
badly located and insufficient BY the
depreda.ions of armies they have been
destroyed, and this country, once SO pro-
ductive, contributing so largely to our
wealth, commerce and prosperity. now
lies comparatively uncultivated and rap
idly growing into jungle. The people
living in this valley, wrecked in their
fortunes, are wholly unable to rebuild
them, nor can the States in which they
lie assist them.
Believing that the wealth Of country
depepds upon the wealth and prosperity
of its citizens, we doubt not that every
section of the country, and every interest
will be promoted by causing these over
flowed lands to be reclaimed, and the
culture of rice, sugar and cotton ex-
tended.
For remedy whereof, we respectfully
ask that the Congress of the United
States shall aid this great measure, by
nassing an act or resolution making 1t
The duty of the President, or some other
officer of the United States, to indorse
the bonds of the States of Mississippi
and Louisiana for $40 100000 each, and
for the State of Arkansas for S5,O0O,O0O.
Whenever said States, or either OF them,
shall by law or laws authorize the issu-
ance of said bonds for the amounts
named in sums of one thousand dollars
each, payable in thirty years from date,
at New York, or some other commercial
CITY. with coupons for semi-annual inte-
rest at the rate of six per cent. per an
num. and shall in the act or acts OF au-
thorizing such issues, provide tax on
the productions and lands within the
limits proposed to be reclaimed, sutii-
Gent to pay tbs annual interest, and
sinking fund annually, sufficient to pay
the principal at maturity.
With this Endorsement and guarantee
the money esn be obtained and the levees
rebuilt.
For the following reasons we believe
the Congress of the United States will be
fully justified in granting the aid re-
quested: =.
|. These levees rebuilt will guarantee
the security of labor-increase the pro-
duction of cotton and sugar immensely
in time TO come five fold.
2. By referring to the statistics of the
country it will be seen that whilst our
ANNUAL productions exceed S2,OOO,O OO,-
OOO but q very small proportion, inclu-
ding cotton and TOBACCO, hude a En-
ropean market, those States, like our
selves, having regulated to create home
market for bresdstpfs, importing only in
seasohs Of scarcity,
By referring to finance reports 1t will
be seen, by excluding gold for the years
1866, 1867 and 1868, that cotton consti-
tutes one half in value of our foreign
exports. By referring to the same. table,
Ii sill be seen that our importstions are
increasing beyond the ratio OF the in
crease Of population. Discarding frac-
tions, in 1916, with population OF zu,-
coo 600 enr narts exceeded Sl2l. 600
900. 10 1866, with population of about
$4,000. 600, our imports exceeded S437,-
OOO, 900 In q period of twenty years,
from ls46 to 1865, our IpBortstlons have
increased nearly fourfold, whilst our
population for the same period has not
increased 10 like ratio,
Economists, orators and statesmen
may protest against the extrayagant and
excessive importationS of the people, but,
10 spite Of protests, importstions will 60
on. They may perhaps be regarded as
the inseparable concomitsnt Of an en-
lighteued, refined and highly prosperous
people Our annual importstions, the
Interest on the bonds of the United States,
railroad companies, cities aud counties,
held abroad, must be met with exports Of
products or coin.
Every bale Of cotton exported for its
value, is q bag Of gold or sterling ex-
change on London or any other rialto of
commercial States
During the war this article Of export
was cot of Specie, as in 1854, exceed
ing $l00,0O0,000, took its place, and
gold was selling in the market at 27s3.
Ia the miRds of 6nanciers, this gave rise
to the gravest spprehensioBs. In the
midst Of war, and contrary to its nssges,
we we're compelled TO open commercial
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