Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-07-14
FINANCE AND TRADE.
OFFIoK OF THE DAILY APPEAL
MHNpHfa July lS, 1870.

II IL safe TO predict a hog crop OF fully
AVERAGE WELD. Congress, after tinkering
and motoring with finance for several
months, during which members b little
more than show chow not TO do it, is
about TO adjourn, so that s-pprehensions OF
further tampering with capital and trade
need not any longer be entertained at least
until December. Merchants Of every class
are hopeful. The promise Of additional
capital 20 the South and VESTS 100000
coming to Tennessee-has had no little
share in producing a feeling that is other
wise encouraged by a generally healthy
prospect. How far this grand antieipa-
ton might be enhanced by a free banking
system such as the country needs, il only
for the sake Of freedom from Con-
pressionaI ignorance and control, it is i'm
possible to estimate. We only know that
if Memphis could handle g, 900, 900 or even
81. 100000 in addition 10 her present bank
ing capital, il she could be blessed with
either, amount, in the hands of and 70 be
dispensed by sensible persons, in a broad
and liberal spirit, she would at once enter
upon the career so long predicted for her,
and night not u~nreasOnably expect to
shortly rival the rapid growth of Chicago.
We need capital and la~bOr-capital for
commercial and railroad enterprises, and
labor for our fields, farms, workshops n
households. China promises TO afford rs
the latter, the former can only be had by
an untrammeled system of free banking,
such as before the Wal admitted of season.
able contraction and expansion. We say
this without any feeling Of enmity to
ward the National banking system. IL
has served its time and purpose-but it
has been found altogether wanting as a
medium for the great and constantly in
eressing commercial community. Ii is.
too much under the control of an Ignorant
and scheming political party; it is ham
pered by too much law, and that OF a poor
sort. and does not afford the amount Of
help a recuperating community Ike this
of the south desires. 1t must, sooner or
later. give way to what the country needs,
and its business men call for. The pros
perity of the South which is something
unparalleled} demands that il shall,
and the united voice Of-ths South
and West will command and force
all other commercial reforms. The
wheat Of the West Will this year
tell heavily in orr favor in the adj
iustment Of European balances, and the
cotton of the South, which is st last being
acknowledged in the North as at the bot
tom of the improved aspect OF our foreign
commerce and the low ruling Of gold,
will lend a strength equal to hat it af-
forded last year. Our crop promises at
least 5000. OO0 bales lit cannot exceed
, go 0O0l. which, on a basis Of zoe for
Mfddling, win give SSJO,0OO, 900, or
t~bereabouts, the equivalent OF ex-
and gold. The commercial
is certainly promising. But
with fair. lust, sensible, haBds-of sort of
legislation on the part of Congress it
might have been still better. This We
will and must have for next year. To Sc
cure il the south and West must combine.
IL will not do TO have il doled out to us
piecemsal ss in the Currency bill and the
and Tariff measure. We must have
in generous ISrgeness and bigness, in
measure proportional to our growth aud
the vast extent Of country for which We
labor. We demand, TO use the language
of the Radical st. Louis Democrat, |
a policy for the South and West, a policy
that will take care, first OF all, that sgTi-
shall prosper, for then msnufac-
lures will grow; first Of all that labor
prosper, for then capital will thrive;
first of all hat transportation sha be
cheap, and communication between the
and the outer world unembar-
raised. for then all business viii share the
first Of all that the majority of
people living in this valley shall do
well, for then the minority, living on the
seabosrd, viii share the general pros
perity. We want to put it plainly in the
the st. Louis Democrat:
l. Reduction Of taxes: postponement
Of svmen Of the debt until the debt
power shall have been increased.
II. Adjustment of taxes so that prop
srty shah bear a larger and labor a smaller
share Of burdens.
III. Removal Of all taxes which go, not
into the Treasury, but into favored Poek-
cts.
". Removal Of all obstacles which in
crease the cost of transportation between
he interior and the outer world; cheap
iron. IMPROVEMENT of rivers, facilities for
direct importation.
V. A sound and unfettered currency,
-ree 70 hOw wherever business may call
L. aud neither controlled in value nor
liable to be locked up by Wall street gam
5lers.
VI encouragement Of all free immi-
by liberality Of naturalization,
protection in civil rights, including
the right TO make such on
.racts as the Iaborer may please, without
from any trades union or other
combination.
VII. AppOrtionment of representation
according 20 population.
Let Congress grant the above, and free
tself from the incubus of the msnufae-
turing clique Of the East, and it need give
but little concern about sectional
combinations on the part of tine South
and West, and need have little fears such
A. the New York Times expresses, and
a. may be we'll grounded If it does
lot.
We regret our inability to comply with
the request OF Messrs Donoho, Joy & Co,
and republish the editorial Of this depart
a ent on the 18th inst. We will, how
endeavor to keep pegging away on
line all summer. We thank our
for their compliments. $
In 1860, the four northwest parishes Of
louisiana made largely over $4,000 bales =
Il cotton, with an abundance Of corn and !
much stock Of all descriptions. The cot
on, at present prices, would sell for SIS
10000 specie. Nearly all this magni6- :
ent region Of country is nov at the
IA srcy OF the Mississippi river. We be-
ieve, if an efficient system of protection
.ould be had against the foundations Of =
he river, in two years the four parishes
# Carroll, Madison, Tensas and Concor- l
liza would have more cotton than at sBy .
lime before the war. {
The National BOARD Of Trade requested !
+. H. Walker, of the New York Pro- q
Exchange, to make suggestions to-
ard i~nsugursting a system of more COM
,lete and uRifOrm statistics Of commerce..
Ie states that the Information furnished /,
the Government Agricultural Bureau (
; not yet considered very Trustworthy.
'he statements should give The aereageof =
in each year compared with pre- {
-ious years. Monthly reports Of crops {
hould be sufficiently accurate the Proba-
deficiency or surplus Of the harvest
statistics are needed in respect 20 (
he consumption Of live stock, b move {
lents in provisions, and the product Of :
Correctness of reports, and prompt !
less o. publication, is especially urged. :
he Boards Of Trade or Chambers Oh Com
lsree Of various cities, it is suggested,
light with great advantage make their