Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-09-05
FINANCE AND TRADE.

OFFICE OF THE DAILY APPEAL,
MEMPEIs. September 3, 1870.

OFFICE OF THE DAILY APPEAL,
MEMFHIs. September 3 1870. }
THE CROPS.
There was never the instant when
either by reason of Dur domestic or foT
eign affairs, abundant crops were NOR
needed than now. They are wanted a
home to enrich our great agricultural in
terest, to sustain the countless methods Q
transportation, to cheaper the cost OF hy
ing to those who are engaged in industris
pursuits, and enable them to live as abun.
dainty as ever. They are wanted to in.
vite foreign immigrants expelled non
Europe by political commissions, and e
he drawn hither solely by practical con.
alterations. However faultless the eli,
mate. and cheap and desirable the home.
steals proffered immigrants. the cost o,
food for the first twelve months Of sOjOuFE
in this country IS the subject which 6rst
z tn ir thoughts. Cotton and sugar
estates msy invite capitalists, but have
few attractions for mullitudes along the
Rhine, impoverished by the F~rsnco-Prus-
sian war. just so long as wheat and corr
are cheaper in the Northwest han in the
South, the great mass OF migratory Euro
peans will seek homes beyond the Ohio.
But good crops are wanted to provide
commissions 10 our merchants, aud
freishts { our ships, and to inscribe on
the creditor side Of our foreign account
that has 50 long been principally written
on the debtor page. We have maturing
interest to pay on national, State and cor
porste bonds held in Europe; and If we
can meet this from our crops, and perhaps
reserve a proSt, we shall have made a
gain thst viii be felt throughout our
whole system, and that will go far toward
creating other gains.
The estimate recently made by the
COMMISSIONS of Agriculture places the
wheat crop of 1870 at 10000, 600 bushels.
The crep last year was 25s. 600, 600. There
is. therefore, an apparent deficiency and q
certain decrease. The stock held " is
20 be added to this years product. And
to make the disparity stil less, the in
crease in the current corn crop is very
great. The Commissioner says the North
western States have increased their corn
acreage from ten to twenty-five per cent.
The corn crop, by its excess, will thu sdd
to the wheat, and make any d~iminutiOn
in that less aopreciable, without reckon
ing the -four aud wheat held over. The
crops of oats and rye are of less moment;
but they are abundant. In fact, the
wheat and corn crops of the South, in pro-
portion to the ares of land devoted to
such crops, viii be greater than for five
wears past. Not the less unfortunate was
the universally OF the greed for cotton
which induced Southern farmers to
neglect the production OF cereals, whose
value, in view Of the failure Of the wheat
crops in France, in the Dauubisn princi-
palities, and in Russia, viii be greatly
augmented during the winter. In broad
districts of France the people are com
PEELED 10 slaughter oxen and horses be
cause of the scarcity of grain and hay. a
blunder wss never committed
by a people who beheld last winter
millions of man under arms in Eu-
and anticipated a mighty commission
and vet failed TO adept their farming
operations to Palpable necessities begot-
ten by coming events. Ultimate results
nav not be wholly unfortunate. There
are no associations Of capitalists in the
south capable of competing with mighty
corporations endowed with s~tupeudous
by the Federal Government.
These lsnd-holding corporations have
agents in every great city and seaport OF
Europe, and even there sell through
to newly-born cities and villages
along the Northwestern railways. Thus
[ happens that Europeans are necessarily
irswn by agencies with which We cannot
compete, into colder lstitudes, and IL only
for us TO draw farming pOpula-
ions from Northern States and from
Northern to Southern railway lines. Such
$ the infinite difference in climatic and
productive advantages between the two
,ompeting regions, that the South need
await the time when its true politi-
condition and physical advantages are
made known. Then We may draw from
he Northwest, rather than from Europe,
he best elements of its population.
We c~TNcINNATI COMMERCIAL C0NvEN-
- TON.
The Cincinnati Commercial Convention.
o which our Chamber OF Commerce IS in
-ited to send delegates, sits on the 4th
and has defined for discussion
nd action the following subjects:
/. Direct trade between the Southern
cities and Europe. 2. The South
IN Pacific railroad. g. The Obstruc-
ion to navigation by the narrow span
piers. 4. 4 continuous water line
communication between the Mississippi
nd Atlantic seabOsrd. >. The removal
f distractions from the mouth of the
dississippi river. 6. The construction of
levees on the Mississippi
liver. Z. To abolish all tolls on navigable
8. The enlargement Of the more
important lines Of canals in the United
itstes, and render them navigsble by
team vessels. 9. Finances and taxation.
0. A settled policy on the public interest
q regard to the disposition of Govern II
bonds. II. Charges on freight by
all and water lines. II. To abolish
throughout the country all license i'm
on commercial travellers. IS. The
emOval ofths National Capitol. Il. For
all railroad visducts e navigs-
lie rivers highways for al railroads that .
viii pay pro rata rates of toll on the same.