The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-05-24
THE MHmPMxs CONVENTION.
Tho Adj0urnmont-CiOsln Preceedings
"Details by M1Al.

The Adjournmont-C'osln Preceedings
"Details by MANI.
Tho great Uommerc al Convention nj Nom
phis adjourned sine die on Saturday after.
noon, after passing resoutions OF thanks to
tho citizens and press of Memphis. Among
tho closing proceedings were the adoption OF
resolutions requesting Congress to put the
telegraph lines under tho control Of the Post.
master-aoneral, and proposing the erection Of
bridges above the mouths Of tho Missouri and
Oiiio rivers, the former to be OF not less than
400 feet spnu and che latter not less thrn 500
From The full reports OF the proceedings O
Tho Commercial Convention, Oh Wednesday
published ip tho Memphis papers, we make the
following extracts:
AID ycH pLANTERs-A NEW BANKING scuEM &
Mr.. w. &. HASTE, or South Ca DINA, sub.
mite ed tho following
Whereas, The dis sters of war have destroy
ed the banking capi al OF the South, and as the
high rates Of Interest nniA by the planters ol
tho Souh and Southwest for loans OF foreign
capital for tho last three years IL Is swept away
the profit OF those wh, have made partial
crops and almost ruined she planters ON the
'seacoast, whose crops havo failed for three
successive years; and aS it Is an acknowledged
liC1 tAiI no agTlCutuI1bb Cali S0tCly pay
tha seven per cent per ennum Tor loans do
pendent upon the chances OF the products of
tho soil and VII troas, view OF cur large
national debt, il it is OF vital impor anoe 30 the
Interests OF the United States that tho produce
tion OF cotton tobacco. rice and sugar should
be stimulate I. therefore. 0c it
-ReS0lOed lhat the Finance Committee Of the
convcuilon propale q memorial to tho Congress
said memorial to this convention for it's ap-
proval. Tho basis OF the relief asked for to be
founded upon the hypothecatlon OF the bonds
Of the several Southern and Southwestern
States with tho United States; said bonds OF
mo States having twenty years to run and bear
ing an interest Of s,x per cent. per annum,
payable semi annually. and receiving 10 lieu
thereof the bonds OF che United States bearinp o
Six per cent. interest per annum payable semi-
annually, and the bonds maturing at even time
with the State bonds twenty years.)
:, The funds realized from the sale OF the
UnlLed States bonds to be invested in u Ma.
tlonal Bank to be located in each State. with
such checks and balances as the wisdom of
Congress may direct.
The amount asked for in no event to exceed
ono hfth OF the banking Clpital POSSESSED by
each State on the 1s. OF January 1860.
Referred to the Oommlttee on Finance.
IMMIGRATION FROM AUSTRIA.
Mr.. HasGle presented q long communication
from John A. Wagener. Commissioner of I'm
migration Tor South Carolina, III Ihioh that
gentleman expresses hls belief that Baron
0Ts
would readily enter into arrangements to pro-
mote trade relations between that empire and
the -outhern States. He also recommends the
es ablishment Of drect steamship limo be-
tween Charleston and Trieste, the Austrian
port on the Adratio.
A communication from Commodore Ingrn-
ham Was also referred to the Same committee,
IN which that officer expresses uls oplnion that
although the distance botToon Charleston and
Trieste would be CRATER tnan upon tho North
ern route from Bremen, th, advantage or
weather would, especially III winter, be III it's
favor.
TEE LESSON OF LABOR.
TO the committee Oh Other business and
agrlc1 ture was ref3rrod a long communication
from SENATOR +. A. Sawyer OF Oh Arloston, re-
grett ny his inability to DO prescott at the con
ventlon, and expressing. the ho2o that irrita
ting topics would be avoided. .Ahe writae. Fears
that too largo ~ ptoporIoo OF tha pooplo, OF
more than one race, are non producers. Let
the manly work from industry and the rest DO
prosperity is solved. Providence has supplied
priceless gifts; let us use them by our labor
that is, M Ike capital, build railroads aud levee
rivers. II che convention can teach this lesson
OF labor to our people, 1t viii have dono more
than politicians and projects Of oil kinds.
THE PACIFIC RAILROAD.
The following is the report made on Thurs
day by the Committee on the Southern Pacific
Railroad. which was unanimously adopted amid
great enthusiasm.
Resolced, That in the opinion Of this con-
pecially by those OF the Southern States, coul1
be served by o main trunk railroad limo from
San Diego, California, through JUNCTION River,
Colorado, and alOag the Valley Of the Glla
south OF that river to Ell plso on tho RIO
Grande, and thence to a convenient central
point near the thirty-socond parallel Of lat1-
tude oast OF the Brazos River rexls, from
which fc ader.roads should Lad from st. Louis
~ .,Is
other points, all of which feeder-roads should
have equal rights or Connection With the nam
trunk, with similar feeder-rOads from San
Francisco and other points On the Pacific coast,
with like equal rights OF connection.
ResO,Ded, That the President Of this conven-
tlon be requested to forward copy OF this re-
solution to tho President OF the Unlted States
and 10 the Vice. President and speaker Of tho
House OF Representatives,, with request that
they present the same to the two houses OF
Congress-.
The committee. which was composed OF TO-
preSentatiyes from sovent cen States, including
reasouh FOR the report: FIRST. 1t IS tho shortest
line cOnnecc,ng the Cuff OF Mexico aud tho
Valley OF the Mssissi pi With the Pacific coast.
Second. It IS the line, Of all those now unoccu-
pied, OF the most easy grades, and permitting
OF the cheapest construction. Third. 1t passes
through o loss lnhOspitable and barren 60 IN
Try, and over more fertile and hOspitable lands
than any other unOccupled route proposed.
Fourth. The line is touched by water transpor-
tation Mt thr poir is. aGordng tho greatest ia
cllitles for construction, consequently fastening
and cheapening such construction. Fifth. The
line will oloea to ths world the great mineral re-
soGrces OF Arizona an Sonora. and reuder
more yaluab Q tho stock-ralsing DISTRICTS Of
Texas, New Mexico aud Northern Mexico, and
thus enjoy an unriyalled traffic. Sixth. It
would Inevitably attraot numerous feeders
torprise there. but draw to nnr shipping ports
Q greater portion OF the bullion WHOM now seehs
Europe bv hazardous conductas5 and smuR-
gilng vessels. Seventh. 1t would open o new
coLton-growing area IN Texas. New Mexlco ard
Arizona, In the lapds OF tho cotton. growing
beit nov useless for the laolsioF facilities for
Transportation. Eighth. Some Of the roads
which would be the feeders referred to INV
not only been projected bnt are alrenuy In ac-
tive course Of construction without waltlng for
governNsont subsidy or encOnrag EN- ,nt. Elnih