Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1839-08-01
THE CITY OF RICHMOND.

II CITY OF RICHMOND.
We can state with great satisfaction, that this
City has taken . start, which promises to deyelope
her natural advantages, and will contribute TO open
the great resources Of the surrounding countr, -
We hear the animating ring Of the hrickleyer's
trowsl all around us. We have never scen so ma
ny private buildings going up. The sales Of lots
In town, as well ~ lands In the neighborhood. show
a decided increase of the value u rcal estate. A
piece OF property ia this City, which sold for some
II or l2, 900 donars, about Is yesrs ago, has la,el,
been sold for more than IS, 600 dollars. We could
adduce other evidences in recent sales. of the pros.
perity OF our City. Rents are rising-an in conse-
quence, many private houses are to be erected.-
The Compiler several days ago stated, that o the
Company for building the Exchange Hotel ION r.
street, have organized and appointed their Presi-
dent and Directors, who have already purchased
the whole square, and will soon advertise for pro-
posals to commence building as early In January as
the weather win permit. The house will be about
l50by lao feet fronting on L and 18th streets, and
four stories high, with an observatory which will e.
nable as to see the surrounding country, as we'll Nc
the vessels, steamboats, and ships in port. The
situation is the most central that could be obtained
IN the city" The stock for rebuiling the Eagle Ho-
tel, on something like the model of the Astor-
House, is also rapidly filling. 1t is on the Main
street, on one OF the most eligible situations that
could be selected-and it Is to extend from the
cross street, at the corner formerly occupied by Mr.
Drew. We have also heard Of a scheme on foot 10
build a large Hotel on Shockoe Hill, with LAWYERS
offices &c, on the basement floor.
We are in fact going ahead. We have heard i,
estimated that Richmond now contains a popula
ton of2G, 000-and the population is rapidly on the
increase. More stores are about TO be established
more manufactures to BIO erected. The Bell
Isle iron stock Of 500. 900 is filed, and the Compa-
ny is about 10 thtow n bridge from thu island 10 the
main land on this side, for the transportation Of raw
materials and manufactured fabrics. No City In
the Union Is better calculated for manufacturers,
than this City. The immense water power which
she contains, the rich coal mines in her neigbbor.
hood, the valuable iron mines on the upper James
riyer. are alone sufficient to extend her population
and multiply her treasures. Her manufactures Of
cotton, iron, &c. are all thriving and making great
disidends.-The Etrick Cotton Factory III Peters
burg has just declared a half yearly dividend or 8
per cent, and the Merchants Factory nj the same
place, a half yearly dividend of . per cent. Our
manufactures nre doing just ne well. A very INTEL.
gent Professor from New York informed us last
week, that he was utterly astonished at The resour.
ces Of Virginin, aud the indescribable advantages
Of our own city. lie predicts, that i, ia destined to
become one OF the largest manufacturing towns in
the Union. lie says, that in The North, the profits
on manufactures rarely exceeded The maximum of
8 or 10 per cent, aud be enumerated the reasons,
why we must succeed bettershnn the manufacturers
OF the North,-Ia a word, we are doing we'll, and
we must do better. What we now principally want
is to finish the James River Improvement. II may
hnger for n short time, on account Of the state Of
the money market in this country and in London,
and the Company have been induced to issue their
notes, payable TO order, for 10, Is aud 90 dollars,
for 6 months, bearing interest, to pay on their con-
tractors and hands-which we understand, are pas.
sing freely and easily in the market but the re-.