The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1866-01-13
Correspondence of the Richmond Dispatch.
PRTgRssuRa, january IL, 1866,


briefly referred, in former letter, TO the
cotton trade of this city, and intend as early
as practicable to furnish you with some s'a'
tistics. The subject is sufficiently important
in other aspects to merit some consideration
The source from whence this staple Is broush'
10 orr market is the tier Of counties lying OF
the border of North Carolina, from Bruins
wick eastward and including parto blu"s'
witch .na also Edgecombe, part OF Hahfax,
,,a o,her ,,or,;ons of our sister State contigu-
an. "a the lines of Improvement converging to
,,,s o,+ra,ot The culture of the cotton plant
forms an interesting agricultural operation. II
,s exceedingly delicate ut the time of emerging
from the ground To grow il in perfection re-
ouires the same careful treatment rs tobacco,
and, like it, every other crop is, in a manner,
subsidiary TO il. 1t engrosses all the manure of
the farm; II has critical seasons, requiring the
greatest vigilance and activity; but is ex-
empt from the diseases and insects which
attack it in the cotton region par ercei'ance
Neither is the product so great the plant
does not grow to a fourth Of a size; but TINS
disparity is overcome in measure by in
creasing the number of stalks. The average
WELD is about n bale to the acre, sometimes
reaching two bales. 1t is such favorite with
the planters of the section just described that
ii is unders3ood that = large crop will be
pitched, notwithstanding the present derange-
ment of labor. The planter will, however,
have an advantage this season which he has
not enioyed for several years, namely the use
of concentrated manures. The supply of guano
has indeed been cut off, but other fertilizers
have taken it's place, compounded on scientific
principles and more economical. In fact,
il will be most interesting study TO both the
planter and farmer to trace, step by step, the
progress in scientific agriculture which has
been made during the time we have been eX-
Guided from intercourse with the world. 1t
has, from all accounts, been grand: Liebig
has published the great work of his life, while
other eminent men have contributed to the
onward movement.
But while cotton is staple of unrivalled
Importance, it is yet one of the most hazardous
subjects of speculation. The price is forever
fiuctuating. Like the mercury in the tube Of
n thermometer, it is seldom the same two days
in succession. The dealers here have daily tele-
graphic reports from New York, by which
prices are regulated, while the rates at New
York are dependent on those of the Liverpool
market. What should produce these frequent
oscillations is something mysterious to the
unnitated. 1t must, indeed be near akin to
gambling. But the infatuaton seizes all who
come within its influence. Even in our little
inland town its effects are obvious, though on
a reduced scale. When advices are favorable,
the commission merchant takes his samples
under his arm and goes round TO the buyers
The bids are prompt, and he disposes of his
bales with but little trouble. However high
the figures may be, ifon rising market, every
bale offered is eagerly seized But on declin-
ing market the trade is always dull.
About two months ago the price of cotton
went up in Petersburg to sixty-fve cents
There was consequently n great demand for
every bale that was on the market; it was
thought it would mount up TO dollar in the
spring. Since then prices have gradually re-
coded until now, when forty-five cents is as
much as can be obtained. 1t requires no I'M
usual powers of calculation TO work out the
problem whether money has thereby been
.ost on cotton transactions. Eighty dollars
bale, when counted by the hundreds, is not a
trifiing matter. But then there is this conso-
lation if you lose at one time you gain at
another.
1t was reported some days ago, and seems
now to be confirmed, that Major General
Gibbon, the commander of this department.
is 10 be mustered out of service. This is con-
sequent it is said, on the reduction of the
army. He has been i'll command several
months, and his rule has been such as to win
the respect of the people. Had it not been
for the publication of one unfortunate "gene-
raj ORDER" which was received with equal
establishment and regret, it is not believed
that he would have left any heart-burning
behind him. But there are evidences to war
rant the belief that he regretted it himself as
soon as it was issued. General Gibbon is an
old United States officer, and adhered to the
North at the time of the rupture; but he had
two brothers, North Carolinians, spoken of as
fine officers, who were in the Confederate
army engaged in the defence of Petersburg
The gross proceeds of the performance night
before last for the benefit of Mrs. Jackson
were something short of five hundred dollars.
SSoYDEy