Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1843-07-07
Correspondents Of the Norfolk Beacon. !

was that your farmers do not get along better live
more thriftily, and make money, than they have
been doing for time past; and indeed in all time
pas for there very few who have accumulated for
tunes by agriculture in your section OF country, SO fa
have heard, and the instances of sons losing
The estates of their fathers in loves
virginia. that it has passed into proverb, that the
overseer Of the planter Of to-day, will be, in the pro
of time, the owner of the esa,e and perhaps
poy in the capacity he acted himself, descen
| dant of the original proprietor.
i This last result OF the first blush may seem me-
ancholy one, but if duly considered il will am sure
be source rather of congratulaton and Joy, thar
otherwise. For what is il but clear proof ofhe fact
that industry and perseverance will for their pos
SCISSOR the wealth and consideration which he may CO.
vet; while all may read in it, the great moral lesson
that the will revolve in his course neg
lgence and extravaganza will undermine the stoues
fortune which any one man may accumulate, and that
too in the progress of fewer years than required
in amassng it.
lift is rue that much must be attributed to the acts
ahollshing the rights Of primogenture and docking
entails rather TO that virtuous public opinion
powerful than law, which condemns these heartless
and sustans the policy Of their repeal; but much
nevertheless, requires 10 be accounted for, IN this sud
den transition of estates from hand TO hand; and, it
mistake not, the whole may be explained 10 single
word-eztrapugance-wid, wasteful, wsnton extrava
gance.
admit that bad mana cement and occasional misfor.
tunes are to be looked upon in the estmate but these
are exceptions for the most part, and moderate eco
nomy would soon recover from losses coming from such
1t is extravaganza, then, that does the mis-
chief but, as extravaganza is word of wide and
certain meaning, as 10 evinced by the difficulty with
which recognizes its application himself md the
readiness with which he applies it to another, pro.
pose 10 add word or two by way of planning it.
1t man lives within his income he is not likely 10
ruin himself, at least in agriculture. He may not
compound his capital, but he will preserve it entire;
and, although he may not be able 10 purchase the
tate of his neighbor, he will still hold his All
that he from his income much clear gain,
which, it wisely invested, will tell in his annual
receipts. Should, however, he spend his entire
income, he may not act with The greatest PRUDENCE he
mty not be intoxicating on his children that policy
which they ought to follow; but he will not risk his
tate. 1t Of the first importance then that should
know what the income of estate is worth, and the
question is, what IS the profit Of money invested in
| lands and negroess
IL may he set down, presume, certain, that
ney, invested in lands and negroes the owner not II
wing upon the lands, bul holding them as quarter, has
rarely, If ever IN this Stala through series of years,
brought, clear OF the expenses OF management six per
centum Five: indeed, really believe, that four woad
be nearer the mark. 1t is said, the late Mr. Bruce OF
Halifax of the most successful of planters he
the most skilfnl of merchants, estimated the
of agricultural prof! at four and half per This
was done short time before his death, in 1886. am
told, and il may we'll be questioned whether the ex-
raodnary state Of the world that time did sway
him too much One thing is certain that none will
endorse his estimate at this day in this country The
increase of the negroes and the enhancement Of the
value of the lands the country grows older, were
doubt, important elements in the calculations of MIR
Bruce; but the history of the past we'll as what is
passing before our eyes warns US TO be careful IN this
respect. But TO the point.
If stated above, the profit of money invested in
lands and negroes, under the most favorable circum
stances, the owner not living upon the land, will not
produce in series Of years. more than fourpe cent
what can we expect from an investment in lands and
negroes The owner living upon the land? Surely It
must follow, that If all the profits OF the estate under
the full employment Of all the force in raising the CROP
produce four per cent only, the diversion of any por
ton Of that force, which must necessarily follow 10
some extent Of family purposes, added to the increased
consumption Of the products Of The estate, must d
mnish its aggregate profits in corresponding degree
and sink the rate of interest accordingly know il is
nded that the planter gains than he loses by
residence his estate that HIS house rent fuel,
enance all clear gain but this view supposes that
the quarter not managed TO the best advantage for If
it were, then the profits will be diminished precisely into
The proportion Of consumption. Be this may, let
admit that the rate of profit in either case is four
Now let me ask whether if one thing palmer than
another is il not ths that the palmer Is the last man
in the world TO enter the lists of the exiavagan with
any hope Of ultimate safety and whether it is not pal
pabe that extravaganza will not sooner break him down
than a person engaged in almost any other pursuit:
Let il be remembered, that the low rate OF agricultural
profit is not even annual that is, he cannot expect
each year, but only in series OF years; and, indeed
as it is actually the in this region of country at
this time he is often brought into debt for one, two or
three years in the series. To show what systematic
economy he must invariably practice, let me suppose
one of your citizens 10 have invested len thousand dol
lars in property Norfolk which in the best of times
will yield four per cent only in series OF years. what
close cutting he must practice to keep out OF Inc nanos
of the grocer the tailor and the butcher Thus you
see that any thing short Of the most vigorous self DEM
al will open the door to ruin in short time Yet there
are those who have realized fortunes by agriculture, out
has been done by the srctest economy, only an eco
nomy which Re who have been brought up IN The en-
joyment Of the Injuries Of life can submit to- Hence
IL that the of years expenses over the IN
come is fearful thing the second years stu more or
midable, and on TIL the improvIdent manager De.
comes xlrcably embarrassed And hence IS, mat
the overseer who begins with nothing and IS compen-
ed 10 pass the ordeal of stern self denial acquires the
habit Of SEEING which enables him to advance slowly
but surely in the acquisition Of fortune, and seat hl'
self snugly in the house of his former patron
My remarks apply to planters and farmers who deal
mainly in single article for instance tobacco or wheat
To such the products oil the garden so proh'aoie 70
these who live in your vicinity, of no avail fost
in September will blast his tobacco in single night,
and the rust will attack him within week OF that har-
vest which he has been looking forward with nope
for twelve month lis it then wonderful That so many
splendid estates the James and throughout Eastern
last eighteen months, until you look in every paper as
matter Of course, for the sale of some estate that lew
years ago thought safe in the hands OF ITS hosp
table is Gibraltar in the hands OF England
have said that my remarks apply TO those engaged
the culture OF crop, as wheat or tobacco ana
freely allow that the rates OF agricultural prot N your
vicinity must be greater. There you may raise what
you please, convey chcaPy to Market and get Ian
price. Your most serious crops are corn oats ana po
taoes. which not readily injured, and which pay
we'll Your garden crops are wonderful resource
with YOU than with US, and which ought to enhance
the value of your lands. But the truth is, that on
lands sell much higher than yours, though our Proht'
are less and people, taught BY experience are more
thrifty than yours You know, that The profits are ia
on all you make and you raise almost every thing; th'
prices Of our wheat and tobacco are exceedingly hue
tua,ng, and we can raise nothing else. You have I
long line, and run to the end of it, ours very short
and experience tells that IS safer TO stop short OF
. a hundred times, than to 60 beyond it once.
LATER FROM MEXICO.
By an arrival at New York, dates have been received
r A fho al