Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1869-05-18
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To the foresight and craftsmanship
of the lamented JAMES c. JONES
Memphis is indebted for her first i'm
petus in the careero of growth and eom-
mercial prosperity which has for
twenty years characterized her.
Shortly after he took up his residence
here he urged upon the people the
construction OF plank roads asaneceS-
sary means Of encouraging the farmer
to come to this market with his pro-
ducts and here purchase his supplies.
Supported as he was by an earnest
and sagaciOus population, it was not
long after the subject was first mooted
before, in every direction, plank roals
were built, farms We're multiplied all
along them, population Increased, city
lots advanced in value, receipts of
cetton were doubled and quadrupled,
and the city entered upon the career
that afterward enabled her to rival
Chicago III rapidity Of growth. This
was in the year 1917, when all over the
Union commercial panic and failure
were running credit and seriously in
~terfering with young communities.
But even this great improvementover
the old mirydirt roads of pioneer days,
with all its increase of trade, popula-
ton and wealth, did not satisfy the
ardent statesman. Every trip to the
East and West reminded him of what
steam was accomplishing for these
sections, and he lOnged to subject the
giant power to the uses and purposes
of his feIlow-citizens. He threw him
self into the work heartily, ably sec
Onded by the people, who, although
owning but s., OO0, 900 of taxable prop
erty, readily subscribed one-tenth of
it (S500,00O toward the construction
Of our great railroad to Charleston.
How that One-tenth has multiplied
since, and mainly by the Charleston
and other railroads, let the S3j, 600. 600
or moreo of taxable wealth of our city
tell to-day.
From 1850 to 1860 the growth of
Memphis was something wonderful.
The census reports, and the statistics
of population published in the latter
year, showed that while Chicago, st.
Louis and Cincinnati had increased
upwards ofone hundred per cent. in the
preceding decade, Memphis had in
creased nearly three hundred. Her
taxable wealth kept pace with the
growth OF her population. In 1850 it
was s., 600, 600, and in 1860 IS, OO0 900,
out of which she had subscribed, in
addition to what she gave to the
Charleston enterprise, 81, 900, 600 to the
Memphis and Ohio, Mississippi and
Tennessee, and Memphis and Little
Rock Railroads. In 1860 her popuia-
ton was estimated at between $500
to 10000, now it is put at a low esti-
mate at 1900, showing thatnotwith-
standing the war and the consequent
interference with and disturbance to
her trade, especially with the interior,
she has continued to increase rapidly
in population and to make steady
gains in wealth. Her taxable property,
as estimated for 1869, is So 00O, 600, an
increase Of nearly s2s, 000, 600 as com
pared with 1861, and an increase OF
S25, O08, 000sinee 1862. TheannuaI report
Of the Comptroller, made in January
last, gave her liabilities at s 416, s7s62,
and her assets, talI first elass) as S702,-
90S II in excess, not including her pub
lie squares and promenades, that viii
never be required for the purposes of
assets, worth many hundred thOus-