Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-06-25

Gives a liability July, BUS------.-sll,0 7oiOE 20
Add
Ronds issued since that time, in
Uerest for u months I~estinated}- '7oo'uVV "
TotsI debit .sl2.5F.6ii 81
The interest on this sum viii amount,
per auuum. to S90O,O 600, which added to
the current expenses of the State, $780,
coo. will make a total Of Si,35c-O0n TO pro
vide for. To DO this, the Fsg5on ana
American suggests an annual assessment
ON ssO0.OOO,O 900 taxable values Of the
State. of 4 mills on the one hundred dol
lars, which would produce Sl,2Oo,0GO; to
which may b added Sy0O,D 900 from clerks,
taxes on licensed privileges and lawsuits,
and $4,000 from banks, insurance COM
panies. express companies, etc, mallng a
total OF Si,S3Q,OOO or NSO,OOO more than Il
needed Tor interest and current expenses,
and enough 10 create a sinking fund trom
which TO pay the principal in lev years.
There are many 1" ifs ia ali this, but II
the present Legislature VIII stand MP 20
it's work of reputation of m~isapplied or
misspproprialsd bonds, and sell out ev-
sry one OF the delinquent railroads, we
have little doubt these figures might be
realized, and Cur State credit be put upon
a basis equal % The most favored States
of the Union.
our article on direct trade with Europe
through Norfolk has attracted q great
deal of attention, and brought the follow
ing among other responses. We repro
duce this letter Of MIR. Miller just as he
wrote 10, with a view 10 show 10 tao COM
mereial readers Of the APPEAL that there
j. a possibility that the so-long dream OF
direct trade may BE- realized. and that
there is even now on foot q scheme in
that direction that will, it Is thought and
hoped, culminate in 4 grand success. Let
Us, as a community, only resolve to make
use Of the channels for this trade that are
open 10 US, and success will come. A
united edor 10y the commercial commu-
nifty Of Memphis viii insure what has so
long been doubtful. Read this letter:
Editors 4ypeat. Referring to your arti-
Gle IN Yesterdays APPEAL, i beg leave TO
make The following remarAs: A man who
never LOST anything, never made any
thing. Ii a man is sure that a certain en-
terprise can carried out, b to do he
failed al IE-b. Tx must Ag nDL Al~tNlEAZeU =
let him Try again, and peTseVeFing win
lead hinl 10 success. ] read with great
pleasure. that there is still a strong desire
on the part Of leading men IN our midst
to establish on a sure basis direct trade
with Europe. That this can be done
through Baltimore for the West can be
done through Norfolk for the South. This
is not only sound logic but au irrevo-
cable argument.
1t was tried from the parts of several
gentlemen in this city at different
epochs 70 carry on direct trade; either
the undertaking did not turn ont As eX-
psctsd or was a failure. IL may be As il
may be, It turns always just so out, a. l
predicted il.
The main reason because those enter
prisss have been fruitiess is this. Tho
gentlemen who undertook the task did
not use the necessary formalities in doing
business, they did not take The matter al
the very true point.
Major Wicks 4 General Malone togeth-
or represent corporations whose influence
and cooperation are necessary. Those
two gentlemen sre not only stili willing
70 work tor this effect, but they are work
ing at it al present by day and night.
There is another person Of this city, a
former banker, a man who VIII prove, be-
fore ere long, thai nc has great influence
about such affairs, is AT present rough and
ready, in conformity with the above rail-
road Presidents and other business men
OF here and Norfolk, 90 take this matter
in hiss hands, and to push it on, on an en-
tirely new system. This new system Is
based on cooperation and association.
If tbs public, guided by the motives 70
make good Investments and other pat
riotie feelings, will share in and ~patronlze
this enterprise, II ~hl prove before long
a cOmplsJe success. The new system Is
further based ON such a good, sound base,
as TO make ali kinds Of deceiving and
wrongness impossible, and TO build up q
good, sound, well paying Institution.
This meanwhiist Is a little notice 20 the
right honorable public OF Memphis, Witn
the remark that we are just living ln Z
time ia what the measures bebooyes
anew, great the South beneficiary enter
prise will be taken, what will be made II
due tifae public.
Your servant, sir,
r. TH. MILLER.
MEMPHIs, June p, 1870.
Before distnissing this subject Of direc
trade for to-day, We would suggest TN
propriety Of our Chamber of Commerce
Joining with those Of all the river town
of tbs south and West in their Efforts 70
fun custom-house privileges. There j
no good reason why goods should not b
shipped in bond 10 Memphis, and the on
Nv pretence that can be made for denyinl
to US 50 i~nestimable a privilege, is the pos
sibllity Of its interfering with the monop
oily now enjoyed by Eastern importer
aud wholesale dealers, as we'll as tn
worse monopoly now enjoyed by a Ger
G tain class Of New York gutter politician
who make use Of the Custom-Hou c
that city (Which is now really the custom
house of the Union) as a harbor Of refug
Tor interruptions knaves and tools.
Among the interesting reading matte
oftbis issue Of tho APPEAL, will be foun
the report Of The Legislative Commits
upon the Bdgeheld and Kentucky raj
road. lis only one Of many similar r.
ports uneovoring frauds, perhaps uni
territorial, still no less frauds. This OF
charges the former Receiver with a defc
of "a 1000, and John B.. Brownlow with
dedcit Of $500. The closing paragraph
the report suggests that either the raj
road b sold, or so managed as to prote
the state from the aecruing interest. Ret
ii. 1t is worthy of perusal.
An ehort on the part of New Englar
manufacturers to prepare for the comiI
era Of free trade, has sust been IussratI