578 



FARMERS' REGISTER— COMMERCIAL REPORT. 



For tlie Fanners' Register. 

 COMMERCIAL REPOKT. 



The regular business of Virginia has been in- 

 terrupted during the greater jjart of this month, 

 first by a long continuance of rain which rendered 

 the roads impasscible, and subsequently, by a de- 

 gree of cold hitherto almost unknown in our cli- 

 mate, which closed our rivers, and the navigation 

 of them was suspended an unusual length of time. 



These remarks do not apply to Noriblk, whose 

 favorably situated harbor is always accessible, and 

 owing to this cause, an unusual number of vessels 

 have sought that port during the severity of the 

 winter. This advantage combined with others 

 which that port possesses, will always insure to it 

 an important trade. 



Whilst supplies of cotton Avere retarded by the^ 

 causes above mentioned, nearly all the stocks of 

 that article in Petersburg were sold at 15 to 16 

 cents — but the late accounts from England being 

 less favorable than had been anticipated, the price 

 has declined one cent per pound, and from present 

 appeai-ances will go yet lower. 



Fortunately for the planters, a large portion of 

 their crops was sola under the most favorable cir- 

 cumstances. The dealers in this article are divided 

 into two parties. One of them estimates the crop 

 to be smaller, and the other larger, than the \ne- 

 ceding one; and among the former are the plant- 

 ers and speculators at'the South, who now hold a 

 large quantity — the facilities afforded by the banks 

 enablmg them to retain it on hand. The planters 

 have been unusually industrious this season, for 

 although the crop matured a month later than the 

 last one, and is said by them to be less productive, 

 they have brought to the various markets in the 

 United States, upwards of 100,000 bales more 

 than they had at the same period last year. 



The manuiacture of cotton is carried on to a 

 greater extent than at any former period; but the 

 spinners in England possess such an unlimited 

 control of the market in consequence of their great 

 command of capital, that they can check any con- 

 siderable advance in the price whenever they think 

 proper to exert their power; and thus whenever 

 speculators in Europe extend their operations at a 

 high price, the spmners leave the article on their 

 hands, and a decline ensues. This has proved to 

 be tlie case during the last two years, as well tis 

 in former instances, and it is thus that varia- 

 tions occasionally take place in foreign markets 

 which deceive and mislead us in this country. 

 Some months must elapse before the probable ex- 

 tent of the last crop can be closely estimated — but 

 meanwhile the best informed peisons generally es- 

 timate the aggregate crop of the United States at 

 about the same as the previous one. 



Tlie price of tobacco is higher than in January 

 last, although the crop is larger. This may partly 

 be ascribed to the increased operations of the man- 

 ufacturers in Richmond, Petersburg, &c. wdio 

 worked last year on a very reduced scale. The 

 unusually small stock of Virginia and Kentucky 

 tobacco in this country, also tends to advance the 

 price. This however is not the case in Maryland: 

 the quantity on hand there being large, and it is 

 estimated that the export from thence this year 

 will be very great. The current rates of tobacco 

 in Richmond and Petersburg are $4 50 to ^7 50, 

 fbi' very inferior up to lair qualities. The increas- 



ed cultivation of tobacco in Holland and Germany, 

 lessens the demand for ours in those countries, and 

 the monopoly in France destroys competition in 

 that market. 



For flour and grain there is a very limited de- 

 mand, none being required for export to Europe. 

 Country flour is worth ,'^4 62| to ^4 75 — city 

 mills $5 75. The canals of New York being 

 closed, tends to increase the demand for Virginia 

 flour. The stock of wheat is held almost exclu- 

 sively by the Richmond millers. 



The great increase of banking capital in many 

 of the states renders money plenty, particularly 

 where new banks have been created. Some ef- 

 forts are now making to add to the number of 

 banks in Virginia. If successful, if j^laced under 

 proper restrictions, and prudently conducted, they 

 may render every branch of business more active; 

 but it may be questioned Avhether the great in- 

 crease of such institutions, though apparently pro- 

 ducing a momentary advantage, does not ulti- 

 mately prove injurious, by creating an undue spirit 

 of speculation, and giving a fictitious value to 

 every thing in the shape of property. The poli- 

 cy however being generally adopted by other 

 states, may render it in some measure necessary to 

 counteract it by increasing these establishments 

 in Virginia, and thus prevent an influx of paper 

 from other banks, and the resort of our merchants 

 to those institutions. 



If is gratifying to remark the new works of in- 

 ternal improvement which are either commenced, 

 or about to be undertaken. Of the former, is the 

 rail road from Richmond to Fredericksburg and 

 the Potomac, on which active operations are com- 

 menced on an extensive scale. The state having 

 agreed to contribute her usual quota to this work, 

 it will be completed with great expedition, and 

 thus an almost entire line of communication by 

 rail road will be formed from North Carolina 

 through Virginia, and thence to Boston. With 

 the aid of some enterprise on the part of North 

 Carolina, the line would be complete to Georgia. 

 That spirit of enterprise we trust will soon be 

 aroused. 



The great work of communication from James 

 River to the Ohio will soon be commenced with 

 the liberal aid of the commonwealth and of the 

 city of Richmond — a work of great magnitude, 

 but opening an extensive region of country to the 

 commerce of Virginia, whicli would otherwise be 

 attracted to Baltimore, or other cities. May the 

 works prosper, 



X. 



January 2G, 1S35. 



From tlie [Ohio] Farmer's Reporter. 

 PRESERVING POTATOES. 



A good way of preserving sweet potatoes is 

 when they are dug pack them up in dry sand, be- 

 ing carehil to keep them covered so as not to get 

 wet. In this way they will remain all winter as 

 fresh and as good as when first dug. A highly 

 respectable farmer, the quality of Avhose potatoes 

 I myself tested last spring and found them of the 

 first cut, assured me that this was the method he 

 had practised for a number of years, and found it 

 perfectly successful. 



