Daily Richmond Whig. [volume] (Richmond, Va.) 1865-1869, 1865-07-10
THE DRY GOODS TRADE.

The Philadelphia Ledger, of Monday, SAYS:
We learn that the dry goods market continues
quite firm, considering how far the season Ia ad.
vanced. The stocks are quite low OF seasonable
goods and We are informed that several North.
western merchants who had been unsuccessful in
procuring needful supplies among the commission
men at New York, came on 10 ths market curing
the past week, to pick up among the jobbjng
houses here what lots they could command
OF course as the result Of this scarcity, prices
are very firm, especially of cotton goods, not.
Withstanding the free outlet TO cotton, Mer.
chants Of this city, who have been looking
through the English dry goods market for the last
month, have just returned and report quite bare
of goods, and instead Of making selections from
stocks on hand, as had previously been their Gus
tom, orders had to be given to have them manufac
tured. From this 1t may fairly be inferred that in
both the home and foreign markets msnufactu.
rers are indisposed 10 take the chances of the
supply OF cotton that the removal OF the restric.
tons on trade in the cotton States Is likely TO
throw on the market Should the amount be
large, some persons interested In the trade es-
innate, the price Of the raw material would natu-
IAlly decline, and those found with heavy stocks
of goods on hand made Of cotton bought Ut higher
prices, would, Of course, he undersold by those
subsequently manufacturing firm the raw ma.
teTial purchased at lower prices. Hence the great
caution observed TO keep the supply as near 10
the wants OF the day as possible. The same
causes influence Tue COMMISSION dealers, the
jobbers snd the consumers. They severally buy
as little as possible in the hope, and with = rea.
soneble belief, that the raw material and
the cost of manufacturing will necessarily
put down prices somewhat; though the increased
cost of growing cotton, in the change from
slave to paid labor, and the increased expen.
ses in the manufacturing establishments, the
effect of the cheapened currency which sd.
vances ell prices, will keep cotton goods for
a long while yet at much higher prizes than
they ruled at before the war. The day of
cheap cotton goods has passed. Indeed II Ia
hardly probable that in the time OF the present
generation shirting musns will sell at a shilling
a yard. Double that sum when we reach set.
tied market is likely TO rule more nearly as the
price. This, however, is less than half the price
of few months ago. corresponding advan.e
ultimately will characterize the market for prints
q nd all kinds OF manufactures of which cotton
and labor are the principal items in the produc.
ton. IL does not follow from this, however. that
consumers are to be materially worse of; as the
demand for labor, and the depreciation of cur.
rency, from whatever cause and TO whatever ex-
tent, tells corespondngly, or ne.rlys So on wages
that hich puts up one, other things being equal
advances the other. SO that about the same
number OF days labor will stock family with
shirts and sheets as when goods were lowest.
We know that political ecOi omists figure out q
national loss from working under deprecated
currency in our intercourse with nations pro-
ducing under dearer currency, but the differ.
ence, whatever it may be- steadily lessons IS time
affords opportunity for production and cOnsump-
ton 10 adjust themselves TO each other and TO the
national want.