Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-09-01
TRADE.

The organization known as the Chamber
of Commerce, is not now a Board Of
Trade, assuming only the tasks of a
Board of Trade as these may. affect the
cotton crop. It undertakes to deal with
questions affecting municipal and State
legislation and the general commercial
and railroad interests of the city. II its
members were more numerous, the
Chamber of Commerce might also assume
the tasks of a Board of Trade and
employ men to devote their
whole time to the business of gathering
up statistics. We make this statement in
order that the conduct of the public
spirited gentlemen who uphold and at
tend meetings of the Chamber of Com
merce may not be undervalued or misap-
pretended. The defect of the Chamber
OF Commerce and its abandonment of The
functions of a Board of Trade are to be
ascribed to those who DO not belong to
the institution, and not to those wlo do.
A Special Bsnefaetion 10 Memphis Whole
sale TradesmeH.
Some months ago the Chamber of Com
MERGE sought, through the Intervention Of
Congress, TO relieve this city of delays and
vexatiOns incident to transactions with
the New York Custom House. Other like
mercantile associations in other cities CO.
operated, and a great good has been
dCQlbNbus hbEttOAOfts DOsLOu anu NbN
York have not only regulated tariffs, o
opolized the coasting trade, and per force
drawn to themselves the wealth of the
continent through the Intervention Of
the Government, but have so shaped the
revenue code that they held a monopoly
of the business of importing dutiable
goods. The inequality consisted IN the
fact that the New York merchant could
put his goods in store while they are in
h1nE anl uaII than INV uannn1aq auOfA1nn
the necessity of paying duties on them
until they are Withdrawn for cOnsump-
tom. g., for sales by the jobber and re-
I taller. This advantage, lessened by half
the amount of capital required tO-carry a
given amount of business, and by three
fOurths b expense of rent, clerk hire
and interest. The difference is worth
five millions to Chicago, and perhaps
half a million to wholesale and other
dealers of Memphis. The result will be
that our direct ~importatiOns viii speed
lily become enormous, and the problem Of
direct foreign a is solved by this
legislation of Congress, and by that cOn
solidatiOn of railway lines. which will
control and collect at Norfolk freignts
and passengers enough to make a line of
ocean steamers profitable. The question
Is whether Presidents Wicks and Malone
cannot now give Memphis a cheaper and
shorter route to Europe, where Memphis
will hereafter buy largely than is fur
nished by any other system of CONSOLE
idated railway lines. Now, that Mem
phis has the same credit system n opera
ton between its merchants and the gov
eminent it is only a question of dollars
and distance whether we shall buy in
New York or European cities. From
Cologne, Switzerland, via Hamburg and
NeV York to Cincinnati the distance is
$40 miles, and 1890 miles railway; from
Cologne via Hamburg and Norfolk to
! Cincinnati the distance is 42l0 miles. 1t
is thus cheaper for Cincinnati 60 join
Memphis and trade with Europe through
Norfolk. From Memphis to the same
European cities through Norfolk b dis
tance is Abs miles, and only 9SS miles of
railway.
/ Is an illustration of results to flow
from notifications of the laws regulat-
ing the collection of customs the append
ed table shows the amount of duties paid
on direct impOrtations by the merchants of
this city for the year ending June 80, 1870.
Under regulations now in force this an
nual sum viii be augmented to an incalz
orIahTa a~fpnf. .