New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-09
sOUTHERN COMMERCIAL CONvEN-
TON.

Third Days Pr0ceedings.
We copy from the Memphis Sun the sub
joined detailed report:
| CINcINNArI, October 6-The committee
| on the removal of distractions from the
mouth of the Mississippi reported the fol
lowing:
| Resolred That all instructions to naviga-
ton at the mouth of the Mississippi river
| should be removed at the expense and under
| the direction of the general government
open a ship canal from the point on the left
bank of the Mississippi river below Fort
| St. Philip into the Gulf of Mexico, such
canal to be constructed and maintained at
| the national cost and administered By the
national authority, to be adequate to the
| wants of American commerce, and free
! from any charge or impediment, and to con
stitute part Of the national highway to the
! ocean.
Resolred, Thai a special committee, con
! sisting of one from each of the following
| cities, New Orleans, Vicksburg, Memphis,
Cairo, St. Louis, Keokuk, Dubuque, St.
Paul, Louisville, Cincinnati and Pittsburg,
be appointed by the president of this con.
ventiOn, whose duty it shall be to confer
| with the government authorities respecting
the prosecution of the work of deepening
the channels of the rivers mouth, made by
present agencies or other new appliances,
the survey of ship canal, and to awaken
general interest in this much needed ma
tiOnal work, among the people OF the Mis-
sissippi Valley.
The committee on finance and taxation re-
ported as follows:
Your committee, recognizing the impOr-
lance and magnitude Of the topics which
have been referred to them, recommend the
following:
Resolred, That we are in favor of tariff
for the purpose of revenue only; that duties
should never be laid with the view to give
one branch of industry or one section of the
country advantage over the other; that
tariffs should be fixed with regard solely to
the revenue, and should be made to bear as
lightly as possible upon all branches of in
dustry and upon all sections OF the country.
Upon the subject Of internal revenue and
taxation, your committee recommend that
the system be further amended by the ;abO-
litiOn of the income tax, and taxation be
restricted to articles of luxury, and that
their number be as small as may be compat-
ible with the amount of revenue to be raised.
The committee on free trade in money pre-
sented the following:
Resolred That all restrictions upon the
rates of interest, they being but the price of
money. serve to increase rather than to
"a
interest to the lowest practical standard,
the trade in money should be left as free as
merchandise, and this convention recon-
mends to the several States to repeal all
usury laws and OF all statutes by which con-
tracts Ill money are treated exceptionally
Resoircd, That the banking laws of the
country should be so amended as to take
away from them all monopoly in the supply
of currency or other forms Of credit for the
-ny,f- of ,,cy 70 oil
son the free use OF his credit.
Resolred, That the free use Of their means
and their credit is a natural right of all
human beings, and no government has
right to interfere with this freedom. except
where fraud or crime enters into the tran
sactions and is duly proven in a court of
justice.
Committee on finance and taxation sub
mitted the following as continuation of
their report: Under the circumstances, it
has been concluded to submit to the con-
vention resolutions only on questions of
tariff, internal revenue and national cur
rency.
Resolred, That public interests will be
promoted by the substitute of legal tender
notes for currency now furnished by the
government to the national banks. and the
cancelling OF bonds bearing interest,
pledged for the redemption OF such cur
on interest. and removing one difficulty in
the way toward adopting, in a few years at
most, of a specie basis throughout the
country.
Resoired. That the law of Congress tax
ing the circulation of State banks ten per
cent should be speedily repealed, the ne
cessity tor such law, if at any time exist
ing. having passed away.
Baltimore, through the chairman, stated
lnx -.
ventlon meet there next year.
The committee on public lands substituted
the following resolution: That public
lands should not be considered as a source
OF revenue, but as u means of increasing
and to this end the homestead
law should be sustained. and in regions
where the settlement of the country is
necessary to give value to the lands and
promote the interests of the people by
such appropriations of alternate sections
as may be necessary to secure these
cent and wise; but such lands
whether reserved by the government or APP
propriated to aid public improvements |
should be held in the benefit of actual set |
tiers at an average price. not exceeding |
s. so an acre, and every appropriation OF |
public land for these purposes should be |
accompanied by such limitations. restric- |
tons and conditions as will compel corpora |
tons or other garantees, under penalty Of |
forfeiture, to seek their profit by promoting
the settlement of the country, instead Of |
specializing in lands entrusted to them to |
secure prompt construction of public works |
II aid of which they are appropriated, and |
protect to the fullest extent the interests of |
he government and the rights Of actual |
settlers.
Resotrea, That a committee be appointed |
by the chairman to memorabilia Congress
IN this subject, setting forth the views en-
ertaned by this convention. Adopted.