Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1816-06-12
@gor5tueret9r.
From the Federal GaEette.
Extract of Letter, dated

Ltcerp00t, am mo. 1Oth, 1916.
g We have for long time past had very
few transactions in our Corn market, O!
any great Importance in relation to foreign
countries, but latterly the prices through
Out this country, have beengralualsy rising.
and we consider them now to have advan-
cea about IS. per bushel above the lowest
point of depression.
On completing our annual survey of the
crops last year, we stated that, from what
we had seen, we were strongly inclined to
the opinion, that the produce of the crop it.
self would prove inadequate to the con.
sumption of the country, without the aid of
foreign supply; we then also stated that
this opinion was at variance with that of
the public. TIE operation of this public
opinion, together with the extreme neces-
stiles of the farmers, which have compelled
them to force their stocks more freely on
the market than the usual or natural de-
IRand required, drove the prices gradually
down; but whilst these causes have thus
operated, they have likewise produced ano-
Their effect, which in its consequences will
bring about very material change for bv
the lowness of prices, the consumption of
grain has been las is admitted on all hands)
extended to very unusual degree, and
the country moreover has been enabled TO
export to an extent never before known |:
this is as universally confessed, reducing
the stocks in the hands of all parties con.
cerned in the corn trade to within an unu-
sualiy small compass. On these grounds
the opinion which we formed in the first
instance OF the ultimate wants of the coun-
try has been daily strengthened, and we
now contemplate gradual and material
advance, and that this advance will be a
permanent one; for, whilst the lowness of
the prices hasbeen extending the consump-
ton, and promoting expectation, cultiva-
ton has been discouraged. Such indeed
has been the distress and poverty of the
Farmers, that either from the want of the
means, or from the apprehension of not
finding a market for their produce. thew
have not resorted to the usual EXPENSIVE
system of raising an increased produce :
besides which most of the lands surround
ing large towns, which the high prices of
grain formerly had brought more into til
lagee, are now again thrown into pasturage.
and IN many places great MANY conside-
rable and valuable Farms have become alb
solutely untenanted.
For these reasons we conceive the Corn
Trade is about to become sn object of great
Importance; and could cargoes of Wheat
and Flour be shipped so as to arrive before
me harvest In France or the South of Eu-
rope, where their wants seem to be still in
creasIng, we should not hesitate to re-
commend shipments IF these articles ia
Falmouth, and market for even if thew
should arrive before the opening of dIfS
ports, they might be warehoused without
The payment oil any duty. We have no ex-
pectaton OF such an advance as TO omen
our ports on the next Quarter day. saw the
18th OF next month, though we feel little
doubt of it on the succeeding one. the 18Th
OF 9th month but Notwithstanding our ex.
pectahons on this head are very sanguine
and we think we have strong reasons for it
yet we would scarcely recommend shin.
ments at present. smelly with view to this
market. We think it probable however
IN lew weeks the prospect may be clear.
err and we shall keep you constantly adyi.
sed of what is doing.
The demand for Cotton is rather limited
at present, but the prices are very steady
and holders confident of revival ere long
New Upiands cod. a 2ld.-New- Orleans
19d' a 2s.-and Sea Islands 2s. sd. SIS. pr
pound.
rot ashes are so extremely scarce, that
the holders of what few remain in the mar.
ket, obtain advanced prices-fine Boston
having been sold at 90s. per cwt. Pearls
are plentiful, and very little inquired for
may be quoted at 76s. 7ss. per cwt.
In other articles, there is no alteration
TO notice since our last
Iurpentine, 19s. 15s. ed. ,
Rice, IDS. els. per cWt.
Flaxseed, SIS. 59s. per HID.
Tar, Ids. 17s. per Dbl.
Wheat, los. Sd. los. Sd. per 20 ID.
Flour 4ss. per BbI.