The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1874-07-09
81 z Il CHI
OF
HON. JEFFERSON DAVIS
BEFORE THE
Memphis Chamber Of Commerce.


pleasure on meeting those who greeted
him so warmly. Adverting TO his at
tachment for his home, and for this city
and people, he said coeLttm non anin.unt
1altGnt qua trans mare currutt He in
| sisted, with earnest, simple eloquence,
| that there was no such country as this
none having a soil so exuberant, eli
mate so taultless, river so majestic
He had crossed the ocean, but, as assert
ed by the old Roman poet, he never for
got the land OF his birth; and, however
distant, he still drew after him that
''lengthening chain" Of which he spoke
who wrote like an Angel, and talked
like poor Poll. 1t often happens, CON
tlnued Mr. Davis, that the worthiest en-
terprises of State and corporations IN
the south are wholly discredited IN Eu-
rope when deserving the unlimited con
fidence of capitalists. There are three
great and potent oracles in London
determining the credit of American
securities-the Trust and Loan company;
the Foreign Council of bondholders and
this society of the Valley of the Mssissip-
pi Of London. BY the first two Of these
Tennessee securities were put under the
ban; but that trustworthy information
affecting the condition and purposes of
Tennessee given the Mississippi Valley so
ciety caused marked change in the
market value of Tennessee securities
He had said TO the secretary of the pa
rent society in London that the financial
condition Of Mississippi might be most
fortunate for taxpayers, since those levy
ing taxes and issuing bonds in Mississippi
could, by no possibility make these bonds
salable. This society is now thoroughly
we'll informed by its correspondents in
leading cities along the Mississippi and
its tributaries, and no such gross njus-
tice will be done trustworthy and reliable
enterprises as in recent years. The utiIi-
ty of the parent society, having trust
worthy sources of information, will prove
quite as serviceable in obstructing fraud
ulent schemes as in promoting those of
honest worth. Bogus stocks based upon
bogus mines or paper railway lines cannot
be palmed off upon those who have access
to the books and correspondence Of the
Mississippi Valley society Of London.
OF social and personal advantages given
those who went from America commend
ed to the London society, it was needless
to speak.
1t happened that he had been present
ed to Sir Edwin Pearson of this society,
and all these aims and incidents Of the
international association, having branches
everywhere in Europe as well as in the
valley of the Mississippi, were thoroughly
discussed. 1t was in an interview with
members of the society that he had sug-
gested the Inauguration of a system of
direct trade between England and the |
valley of the Mississippi He had shown |
how the intermediate agency of Atlantic |
coast cities was ruinous to English mer-
chants, and that great losses were sus-
tanned for the same reason by the people /
of cities and States along the great Amer
lean river. There is no necessity for the I
intervention of middlemen and middle +
cities now absorbing all profits incident to |
commercial intercourse between the great /
valley and the world's commercial capt. |
tai 1t is needless to say that British
statesmen, merchants and bankers, con- /
stituting the society in London, approved /
the plans defined by Mr.. Davis, and /
readily agreed to furnish three-fourths of
the capital required to inaugurate the /
enterprise, and establish successful /
steamship line from New Orleans to Liv- I
the largest vessels possible OF the greatest /
possible tonnage should be built or char /
tered. Barge lines from the remote .
northwest and from St. Louis should be I
used in connection with these great sea-
going steamers into which grain would +
be transferred in bulk ut New Orleans. +
A gentleman named Hirsch had con
structed II vessel having a double keel +
and having the capacity of SIX Thousand T
tons, drawing sixteen feet water and one
drawing twelve feet OF three thousand /
tons. One of these steamers was tested |
in storms in the Mediterranean, and If I
seaworthy and staunch as represented by |
the scientific Mr.. Hirsch, the problem of
direct trade was already solved, and our /
discussion of the means Of securing a I
perfect waterway from New Orleans to I
the sea was already needless This fail |
ing, we must still resort to dredging
This can be effectively done.
The river was kept open without diff
fculty when Mr.. Davis was secretary of
war during Pierce's administration |
Then the dredging was fairly and honestly |
done Tenfold greater difficulties are
surmounted in keeping open the mouth /
of the Clyde, a shallow stream, dredged /
thirty miles, and deepened till the heayi- |
est and largest ships that bear the British /
flag 90 in and out at will. Whether steel +
ships may be built and successfully navi- |
gate the ocean, of Hght-draught but OF
irrefragable strength, is a question not |
vet solved But we must act in the mat
ter. A steamship line must be estab-
lished, and the people here must own |
one-fourth of the property. If we do /
not demonstrate our earnestness of faith |
bv risking one-fourth as much as our
English friends, the line will perhaps |
never be established. Trade runs in |
very deep grooves, and its habits are /
changed with the greatest difficulty. /
Mr.. Davis thinks the steamship line will |
be most profitable, and its route across
the ocean, which he has pursued, was
safest, and certainly most delightful. |
He had drifted with the gulf stream Oft
Cape Hatteras, off the Grand Banks, |
and thence to Albion's cliff of chalk, and, |
returning, had drifted with the same
balmv summer of the sea by the Azores
and West Indies, going out of the Cult
of Mexico on the northern, and returning
on the southern side of Cuba. There Is
every advantage of comfort and security
in following the southern or gulf stream
route in both directions across the At
lantic Since Mr.. Davis's return to
Memphis, four or five days ago, he has re
ceived letters assuring him that the light
draft steamers will probably be built and
direct trade with this valley inaugu
rated.
JETTIES.
NJ Dax-;S them smoke at length of dit