Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-10-04
DIRECT TRADE.
An Interesting Discussion upon the
subject-rhe Necessity thereof 10


An Interesting Discussion upon the
subJect-The Necessity thereof TO
the south.
The meeting at the courthouse yesterday
to consider the subjects of direct trade and
immigration was not, We regret to say,very
largely attended.
Gen. ". II. Jackson introduced Capt. E.
t. Payne, of Georgia, Secretary Of the Di-
rect Trade Union, who proceeded at length
to explain the origin and purposes Of the
Union. The following is synopsis Of his
remarks:
At ameeting Ofthe Georgia State Grange,
held last December, the question came up,
why cotton had declined in the South while
it had risen in Europe. 1t had declined
from lie. Sept. 1, 10 lie. October /, and
had advanced considerably in Europe. The
depreciation in this country was attributed
to the lack Of money to move the crop, the
crop, the scarcity being the result Of the
panic.
ThequeStiOnthen arose, ''What could the
South do TO remedy the evil?' Upon con
sultation, il was resolved by the Grange to
| get up q company, to be composed of the
Patrons of Husbandry, whose object should
be in future TO raise money in Europe TO
4 AlOhG TIT We sAADI4A AlAlAo
gain our Independence of New Y Ork.
The company was soon chartered by the
| Legislature, and commenced operations.
Arrangements were already made with
English banks to get any amount of money
not exceeding three-fOuIths of the value of
the cotton entrusted TO the company at Z
per cent. per annum. The company was
now ready to take cotton FROM producers
| Il
its value, and to hold il till prices are high
enough to make it sell prOftably-any
length Of time, six months or a year, if
desired. The sdyance would enable farm
ers TO meet their fall and winter Obliga-
tions, and yet wait for remunerative mar
ket.
This scheme could be carried out to the
advantage of the producer, the country
dealer, the company and the European
manufacturer. The cost of transportation
| would be greatly reduced, as special ar
fragments had been male with most of
the railroads leading to our sea ports for
very low freight tariff. Low customary
| duties would also be obtained in Europe.
More Telrly regular and better prices would
be Obtainable for cotton sold through the
company.
L ne SlOck was CDuillleu 70 tue L dtTOIo VI
Husbandry, any one of whom can buy
shares, and when the shares in any one
State reached $4,000, such State would be
entitled to director in the corporation.
No charges were made on exports by the
company except actual expenses, all COM
missions were as low as they could be.
To cheaper transportation across the At
lantic, il was desirable that our importers
should load the vessels back. The compa-
ny, therefore, especially solicited the pat
ronage and cooperation Of our Southern
importers.
For the same reason, It was to its inter
est to procure as large an immigration to
this country as possible through its line.
Attending TO orders for Immigrants would
be a specially with the company.
Capt. Paine made it perfectly clear that
the great undertaking which he represents
is for the good Of the South, and in conelu-
sion lie invited the merchants Of Nashville
| to Join in the movement.
Gen. Jackson announced that Col. ID. IL.
| Butler would speak at the Exposition last
night, which he did. He depicted III
strong language the ills the South suffers
by its financial dependence upon New
York, and showed very clearly to the many
who listened to his remarks that the remedy
/ lies in the establishment Of direct trade
with foreign countries.