Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-01-19

"a wealth of Tennessee makes the collection o
- an industrial Inu .enIn duty of paramoun
ne importance. The faVOrS bic manner in wh!gi
IN me hrSt ana second reports Of this bureau
NJ, have been received surpa,ses the highest an
=. 7 uclpatOus of It's most sanguiue frienus
81 ron tl every -tste north, ana from Tnaly o
re the states of Europe, AS the .cretary inform.
"a me, demands for the work have been received
~ snd u Hnorls me pleasure % state that We are
~ IA my opinion, just entering upon a
ii H.. T% eaTe,r OF prosperity an wealth
"a oeen received by the department show an
4t es nest desire on the part OF mauv persons q
{, me northwest 10 eS ape from the rigorous eli
~ le 10 the more genial one OF our own state.
me srasshOpper scouTge with which the peO
s. pc OF the upper Mississippi valley have been
"a visited, has also had Jhe effect oT producing n
. Leuuent wave in the tide OF Immigration.
D f.isse two causes added 10 the fact that the
q Peop e OF our state were mover so anxious TO
@ dispose OF p'rliOns OF tkeir estates, make the
!. most opp rune period The tate has ever had
o. secHring better class Of immigrants. The
+ gIeat need OF the state to-day is Intelligent
Y sEihed labor 10 work up our raw ma, ,erlal
= lhto more valuable market products. When
, We We re teHeSI lhat the amount OF coal IN Tenne5-
I see is sufficient, AZ One.hIf cent per bushel.
4 70 pay tle national debt twice, ana the debt OF
: me the 2CsIe Two hundred and My times, and
thst IRON ore exis in more than half the
; / =. cues "a work able quantity; when we fur
2 tAtt eonslts2r the drain Deing made on the
IeTuItty Of our soils by the ruinOus practice
OF exporting from the state every product in
Tue raw condition; when we see the best en-
eTgies OF our people taxed to their u most
a WIN no ensuing prosperity, II becomes
take such steps as shall insure large ae-
cesslon to our population of skilled arti.
sans, and so utilize the raw material which
, we possess IN such inexhaustiOle qu2nti-
leS, Great Britain, with population of D.
! 0UtVUJr Is said TO have working force of co.
OJOO00, or the producing power OF each inhabi-
! @ .anI y increased mo-e than 70 times by the
use Of machinery. The potential energy OF
neL streams aud coal-1elds mas been utilized
IN Ine multiplication OF human industry un-
III, as 1t has been we'll said, "She snakes every
., airing tree aud catches in her lap the most
PIeclops traits OF every Cline" " hat mas
Deen done to give England thus unexampled
prosperity may be done in Tennessee, with the |
prop effort on the part of its lawmakers, !
Capital and skilled labor should be encour. |
aged IN every possible manner to enter Cur |
unocc9pled helds OF industry. We need |
maDutactoriSs to simulate our agriculture and |
make home market for our products, and |
mus, IN manner, solve the difficult problem |
| OF transportation. immigration of this char |
acleT Will lessen the relative plopOrtiOn of |
taIIne s. which Is now % per cent. of the en- |
| Ire population of the state. The proportion /
oI farmers IN England to the entire popula-
SION Is S315 per cent, and Ia no country are |
tSsfmefS tsa more prosperous: This results from
Tue e4 4IraorCunary demand for farm products
aiu lne cheapneSs with which all the supplies
/ OF the tarm are obtained. The geOgl laphicaI
position OF Tennessee presents advantages To
manufacturers which no other slate offers IN |
oelng the nearest TO he cotton States and It's |
SUI p5lhg capable OF producing q great
/ dance. The commissioners are OF the opin-
| ION. that the question how best to encourage !
Immigration of The right sort, is so Intimately !
connected with the Urk of the bureau that /
/ they earnestly recommend that the two !
A1B0uAfa
/ power to carry out the object intended In /
| the opinion OF This bureau, The question of !
| immigration cannot be ignored, and the
! sooner definite action is taken upon IL the
/ oetter for the State. If this suggestion should
I meet The appreciation Of your excelIency, we
shouId be glad TO have you 80 recommend TO
the general assembly. We suggest that a
clause be also added to the law empowering
the executive to fill vacancies in tbis buresn' (
when the terms of the commissioners expire
Lhese recommendations have been made at
ihe direction of the commissioners OF this
D T a lr ma ELL
ana fourteenth o January, 1875, and I Would |
ask me careful consideration of the general
assembly TO them. We do not ask any add5- /
tl'naI appropriation for carrying out the I
measures herein suggested. / again request |
,,ai ,ai JoLnt committee OF the two houses ex-
anime anu Pass upon my accounts as fiscal I
agent OF the bureau OF agriculture.
THE TEN PER CENT. INTEREST LAW.
Yestesday at meeting of the Nash
vile cotton exchange to memOrisliZe
tie legislature against the repeal OF the
ten per cent. interest law The following
prominent business firms Of this city
were represented:
Holding, Wilkes & Hancock, Ordway, Cor
don M'Guire, MA lister * Wheless, spur
locke, ioke II Co., M'Crea & Co, ". NJ Dun
can Z ,, J.. X. Chase, Gilbert, Parkes & Co. 7
s. Il. Bell J. II. Murray, & Co., ]. NJ. Carsey ,
Bon Il Co.. W. Hooper, a.rrts, FraIev IL Coo !
ley, w. T. Henderson, & Co, 3. O. Parsons 4
20, Orr Brothers, Rhea, Smith & Co, Morris a [
StTatt9n, i Bailey & sperry, Brieu & Thaxton, /
a resolution was unanimously adopt- :
ed directing the chairman, Vice-presi- :
dent Lauier, to appoint committee of
SIX to act in conjunction with g commit
tee from the board OF trade in urging the r
Legislature not to repeal the present law. (
allowing ten per cent. interest. During | y
the meeting telegram was read from y
the Memphis cotton exchange. stating U
that siuilar move had been made bV a
that body. The following gentlemen 0
were appointed on the committee: k
Ehom - Parkes, J. F. Wheless, s, H o
6elI, y Parsons, J. II. Wilkes and 2
G. J. Goodrich. .
The proposed repeal of the present law d
is arOusiDg no little interest here, ami in a
speaking of he meeting the Union and .
american locally remarkz:
The merchants generally, who Wel Q present | -
are opposed to sury, tut think 1t useless to | -
urge Inc abolition of conventional interest |
altogether. Theii action must be regarded as | q
q protest against Substituting a fxe lower ! r
rste 1i interest as It Is proposed to do in the g.
If they can't do what they want TO do, they
want To do the best they ca1 do, and their ac. ! D
Llon was IN accordance with that princip e of
political economy free trade in MONEY as in -
every other com modify. In saying-this much IS
we do not lose sight of the self Interest which O.
prompts the cotton meh to move Quickly in
this matter, seeing that it is of late part of -
their business to advance money 10 the coun- -
try, aud their evident interest to have the Al
amplest guarantee to enforce their Contracts "
YOUR CORRESPONDENTS VIEWs(?l.
l have no views upon the subject. buf
herewith present what am aware will /
be IDdorsed by great many men in Pl
Tennessee. However disposed men NAV
be to ignore right and commit wrong. -,
yet human conduct ia regulated more or Z
less in its recognition OF law. Hence
We see that the least predispOsitiOn To
dishonesty is and will be developed into
practical avoidance of moral duty when / "
such can be justified by the sanction of
avs to which we look for protection, tt
which we recognize as right and lust co
Under the present laws OF Tennessee, 70
he borrower Of money can defraud pos. ro
sibly, for he can delay and annoy his 90
creditor in the recovery Of money loaned VS. VS.
Ir predicsted upon real estate, deed of CHI
rust, mortgage or otherwise. While I pr
need not specify here, yet it is sufficient IRE IRE
o mention the availability, as well as {
he moral plausioility, OF the eight Tu
months stay law, the manner and mode
# procedure in injunctions, etc. To re-
nedy this re must first teach men hon.
'sty by repeating all laws which, how n,
'ver good in design, may often in the VI
means conceived to be necessary to
.ttain such end, work hardship uDon
ue hlDuueSS Vi ltISuuS, ana afford m
of no little viIlainv-f0r
the bankrupt law. Then, first -,
ct the stay law be repealed, and sec0pd- /
y, re-enact the old twelve and half to
,er cent. penalty law on appeals taken As:
When there can be no hope Of success paj
III litigation, and when taken for pur- Of
'Oses of delay in order to keep the cred ma "a
tor out OF his money. Thirdly, affix to
he mortgage law twenty five per cent. r
'enalty where injunctions are prayed
or i'll order to cause delay merely, so as
o prevent the recovery Of moneyioaned AZ
II mortgages. These changes, with 8 u
ontinuance of the present ten per cent.
aw, will certainly do the country no
amsge. Owing to the present imDedi-
lents collections incident to the ex- ~
sting laws Of Tennessee, real estate ia sub
7orthless in so far u, it is to be made Raj
vailsble as collateral for borrowing ON ON
honey. The mOney-lender has no faith Ian
the credit of the people, for what the
can be given him? Six per ne
ent. interest, with the present rate of oiaI iIe
eaton Is out Of the question; to this snb
ten per cent. as the fees charged by &C aeT, r.
rFTyTso f1ys H.,