The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-10-14
luG LOUISVILLE eoamgReAL goaVGsTms.

lHG LOUISVILLE COMMERCIAL l0aVGsTI0g.
Report OF Committee on Observation-Disclosures
buttons Inviting Govcrunert Atd for AmerI-
can Transatlantic steamers--SeCretary Bout
wells Financial Policy Condemned.
LOUISVILLE, Oct 10 1869.
The Convention met at ten A. NJ After PRAYER
the Committee on Permanent Organization reported
az foows--Charles NJ. Thurston secretary, and one
vice president assistant secretary from each
State. The committee recommended that the Con-
vention appoint tho following standing commit
tees, cacn composed Of one member from each
State represented The Southern Pacific
Railroad; second. Railroads Generally; third Direct
Trade with Europe fourth, Emigration; dta Finance
and BANKING; sixth, Manufactures and Mining;
seventh Mississippi Lsvees improvements; eighth,
Tennessee River improvements ninth. River Eaviga.
ton, Canals and other improvements; tenth, Agri.
culture; eleventh, Continuous Water Line Couultl.
nication between the Misslssipp River aud tue At
antc Seaboarj; twelfth, Removal OF DISTINCTIONS
TO Cheap and Easy Outlet through the Mississippi
and Gulf; thirteenth Imports.
On motion or MIR, HIIJIARD the subject or protce-
ton OF labor ana the reduction OF taxation was
made an order OF business.
ERASTUS BROOKS, or New York. offered a resolu-
ton recognizing the necessity OF tri-weekly line
or mail steamers between this country and the
southern and northern ports OF Europe. Also. with
view TO procure sucn assistance from the federal
government as may be necessary for It's lnalnte-
nance, that the government be memoraiizcd to ad
the project by direct subsidies by awarding To the
SAID line the foreign mall contract, said line OF
steamers to be bult with American capital anu 10
be manned and oicered by American ssamen eXcu-
sveiy.
A. p. CLARK OF New York, said he Ind The honor
TO represent in the Convention the Mediterranean
and Oriental Navigation Company of New York, and
he wished TO read and Offer 10 the Convention, 10 he
placed on the records OF the proceedings, number
or letters from our foreign Ministers approving OF the
establishment OF the line which lie represented. lie
asked to submit the following for adopton:-
Whereas the Mediterranean and Oriental steam Naviga
line steamships between Norfolk other Southern
erransan ports Southern Europe and through the suez
Canal to the asI Indies Whereby he ges, staple Of the
and Switzerland and large Immigration be
Re Of rapid safe rson ana Of an srsns sass
q aborers accustomed 70 the culture OF cGon a5 and the
owned BY Amereens now pies between the ports o. the
the establishment OF An American line Of stes manned
and e a oy Se h1 Ia " ana a
md VIII be powerful engine 10 restoring our commerce %
South class Of emgrant very essential 70 her welfare
Resolved, In view of the combined opposition Of pow
erfu foreign steamship lines which now monopoize our
ths Convention heay.approvs Of the eets Of tue Meder
mend 10 The Legislatures Of the Southern States to aid and
assist The company by egsaton Offering bounty for emil
6e paid state bonds bearing not less than SIX cent
interest," payable IN twenty years. which togeher with the
deposited oorm sinking fund Tor The benefit OF the aaid
Reso2ea Thai ibis Convention recommend 70 tho United
Postmaster 10 give to the company HE convey
Of he mails g said Foreign por,s during The corPorats
tonds running twenty years and bearing in'eros, ROT 70
Southern States bonds and such postal money De.
posted accrung aforesaid to be sinking fund FOR
said company. Referred tho Committee Foreign Affairs
Mr. LoTH, OF Cincinnati, offered the followng.--
Whereas the Secretary Of the Treasury has Of late made
q sci a q s o sEd IN sna ~
high Premium ana whereas We .nch az
y s WSd sse asss d''0's q the legitimate
Thereorc be resolved That the honorable Secretary
the Treasury be requested 70 dssist either IN
ceiling the reserved GOLD coin, or IN buying The nyelwen
seaos 10 oaer on shs market and sell al high prepu
Eod col tar currency wniSn prns pSe b oeo mnn 1 ~
So world that the the United satoa
p sfof show own that so Be
eereary Of the treasury should buy the hvewen bonds
for il these redeematie in gold the govern.
ptun, OF Them and continue 10 take tatm ~
be hoaora6o 70 pursue and would grespG
Of bringing tho avewsn,es up TO gold par ana oe % ld
three cent and cal IN or sI per cent bond, Z = INC
Se n ourrenss wSy buy them asGch high prsaan
soverumenl msncs s the earliest moment and ray
currency 70 BIO legal tender also 10 20 receivable a.
about ,wohiras payaSio IN gold and ,hI currency
Either o. tbese methods would relieve commerce ens
,ata and manufacturing interests q the country from
misery o. reckless speculation Referred to tho Com
! General HIRAM WALBRIDGE, OF New YORK INTRO
| duced the following resolution, Ha desired 10 pu
IL Immediately on its passage, but the rule OF refer
! ence TO q committee was insisted upon the IMAM
concurring:-
Reaoved That this Convention heartily approves TIE rcccn
snle on gold by the general govern
mont tho thanks Of this Conversion are hereby
to The prcsdent United States Tor his prompt authority
10 the Secretary Of the Treasury 70 take sch
would prevent or the hnanoss cfs wnich wa
raa erangna Ali the channels trade and but for suck
acnn vond nave resulted wide spread commercial disas
! Ter In every section Of our extended country
Il 9TH introduced relating
TO the Southern Pacific Railway, direct trade, &c.
| All of which have been acted upon BY the Memphis
Convention. -.
| MIR MCCABE. OF Arkansas offered the following
| resolution, which was adopted by unanimous
vote amid great applause, the members fising Y
their feet
Resolved That this Convention representing every Sat
Unon deeply sensible OF the oas sustained
whole In the demise Of TIE late crPreseu
| Franklin Pierce aud sympath1ng with bis fanny ~ thei
bereavement hereby tender 10 them the profound con
| doenco OF the American people,
The Convention then adjourned