The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1869-05-28
Senator spragucl ON ythe Cotton Tax and
the Condition. of tho Countrx.

the condition OF the Country.
On Wednesday last, Senator Sprague de-
Eliyered an address before the Memphis Com
4 mercial Convention, from which we take the
following extract: I
I stated in my yplace in Congress- when
: the tax was on ootton,A that IFS was not
, taken OF, it would drive Sea Island cotton
out OF the market entirely in couple of
years. tell you, my Southern friends, that
II you don't come to the rescue soon, cotton
will cease to be a profitable article of pro-
duce. England is doubling her product of
cotton IN her indian possessions, and with
France, is cooperating with the King of
Egypt to raise large supply 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; go that we ere to haze Ha,.,-
competitors In the raising of cotton. We
must, therefore, 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, I will
be repaid for my coming to Memphis. The
country at the present time is like Spain
before its fall, 1t had been q powerful na
ton, and had complete power of all the
West Indies; but where is she now? Let
tIl those who read history answer the question.
--SJ VII oOol 'uo OuI. IulS may also be-
come the condition of the United States. if
you do not exercise more self-dependence.
lou imagine that by your own strength of
arm you may and can maintain the situa-
tlon and avert all this; but tell you there
Is power you cannot control unless you
Drlng q 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
vast capita! power, she was torn nearly
asunder by dlssensions. Disturbances were
frequent, and she was always in state of
revolution. The monopoly was broken up,
and the money is now used for the further
ance of industrial objects.
"ihrough this means England has been
enabled to control one-third of the trade of
the globe: In England anarchy is but
name, and the House of Lords, although
hereditary. is also but q name, and the same
may be said of the nobility of the country.
The people, from the time I have referred
10, nave prospered, and the want of it gave
us our civil war. If you had had the power
L have alluded to, you could hold slavery,
Du6 the money power would have been in
the masses. They would have been found
mutually aiding each other, while the black
man would have nav been held in proper subor-
dlnation. What, however, has been the
consequence need not tell you-you all
know. We took our law from the father
lands but IN doing SO we turned the money
leaf down. Those of you who have read
history know that I am telling YOU what is
now portion of history. did not intend
to make speech to you when I arose. It
was only my intention to thank you for the
very cordial reception you have given me.
and to express the hope that the greatest
harmony would characterize all your deli
Deratlons. l will again say that the money
capital ought to be used for promoting the
best interests of the country; for carving
on the trade and building up the country.
instead of keeping it concentrated and cen
trallzed: There is danger to our financial
institutions from this source, and it is we'll
known to me that those capitalists who con-
troll the money are anxious to get stronger
Government than they imagine the present
one to be, as they wish to protect them
selves and their ill-gotten gains from the
people whom they have crushed. We have
even now, in New York. paper called the
Imperialist, established for the purpose of
openly arguing in favor of an empire. They
wish to strengthen their ill-gotten power.
and control, as they are now doing, bust
ness society, and the Government, whom
they have as completely under subsection as
ever domestic negro was in white family
previous to the war;
Commenting on this speech, the New
York Democrat says:
"The speech of Senator Sprague, of
Rhode Island, made day or two since be-
fore the delegates in attendance at the Com
mercial Convention at Memphis is severe
warning to those who are crushing out the
most valuable commercial interests and the
greatest source of wealth this country has
ever known, by their villainously proscrip
tive and intolerant course. For many years
senator Sprague has been cotton manu-
IN the luxury of planting SO that there are
few so prominent men as he who are so we'll
informed upon the different branches of the