The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-05-26
TIE KINGDOM OF COTTON.
Senator sprasue on the Cotton Tar and
the Condition OF the Country.

On Wednesday last, Senator Sorague de-
live.ed an address b,fore the Memphis Com
mercial Convention, from which we take the
following extract:
I stated in my place in Congress, when the
tax was on cotton, that If it was not taken of
it would drivs sea island cotton out Of the
you, my Southern friends, that II you don't
come to the rescue soon, cotton will cease to
be profitable article Of produce. England ID
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 better staple tina. than
In Brazil they occupy the same position, 80
that We are to have many competitors in the
raising Of cotton. We must, therefore, IN
crease the prodnce Of our lands so as to sue
cessfully compete with these countries. The
position is alarming, but if shall succeed in
urging you to take some steps in this impor-
tant matter, / will be repaid for my coming to
Memphis. The country at the present time is
like Spain before its fall. 1t had been pow.
erful nation, and had complete power OF all
the West Indies, but where ia 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
ence. You imagine that by your own
strength OF arm you may and can
mai tain the situation and avert all tals, but
tell you there is power you cannot control un-
less you bring power OF sufficient force and
strength against it aud that is the money capi-
tai winch lie working night aud day. 1t this
that has made England and France powerful
Before England controlled thus vast capital
power she was torn nearly asunder ny dissen-
sions. Disturbances were frequent, and she
was always in state OF revolution. The mono
poly was broken up, and the moneyis now used
for the furtherance CT industrial objects.
Through thus 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
name, and the same may be said OF the nobility
Of the c untry. The people, from the time I
have referred to, have prospered, and the want
oft gave us our civil war. II you had had the
power have alluded 10, you could hold slav-
cry, but the money power would have been IN
the masses. They would have been found mu-
tually aiding each other while the black man
What, however, has peen the consequence
need not tell you-you all know. We took our
law from the fatberlands. but in dong go we
turned the money-leaf dowo. Tnosc OF you
who have read history know that am tell
ing you what is now portion OF history.
! did not intend to make speech 20 you
when ! arose. IL was only my intention to
thank you for the very cordial reception you
have gwen me, and to express the hope that
the greatest harmony ould characterize all
your deliberations. Twill again say that the mo-
ney capital ought to be used Tor promoting the
best interests the country, for carrying on the
the trade and building up the country instead OF
keepingi it concentrated and centralized. There
Is danger to our financial institutions from this
source, and it is well known to me that those
pitalists who control the money are anxious
to get stronger government than they
imagine the present one to be. as they wish to
protect themselves and their iIl-gotten gains
from The people whom they have crushed. We
have even now in New York paper called the
Imperiailst, established for the purpose of
openly ar uing in favor of an empire. They
wish to strengthen their iil-gotten power and
control. as they a1e now doing, baslness, 30
ciety and the 6 'Yernment. whom they have as
completely under sublection as ever domes-
var