The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1867-05-13

Correspondence OF the Richmond Dispatch.
PETERSBURG, May IL, 1867.

IEIEkSbUKG, may - ASo
The cotton market during the past week
has been heavy and declining. On Mon
dsy small sales were made at % cents for
prime. Tuesday very little was sold,
spinners only buying small lots at 221 to
Csc. Wednesday and Thursday sales
were made to considerable extent at ~
10 eaMc, Yesterday the market was
uuiet. and closed at 81 to &c. for mid
i,inr, and 20 to 81 for low middling
The demand is confined principally to the
best grades. Receipts during the week,
500 bales.
But II cotton has been weak, tobacco
has been unusually active, and at an adj
vance on all desirable grades. Lugs may
be ouoted at from "a to 50; good leaf
from Gil to els; very good, Sl6 to Sl9;
fine. s35 to $40. Receipts during the
week, 1S5 hogsheads.
The manufacturers say there is now very
little profit in working up their tobacco,
and most Of the factories are gradually
reducing the number Of hands. The rumor
gained some currency at the Exchange
Yesterday that after this week the factory
hands arc going to strike for higher wages;
and as there seems to be q universal mania
now on the subject of strikes, 1t can hardly
surprise any one that such movement Is
actually in contemplation here. The time,
however, Is most unpropitious for succeed
ing In their object. The manuiacturers-
many of them, If not all--wonia oe gao
of an excuse TO close their factories LOT
couple of months. At the present tlme
thew give employment TO l,400 or 1900
hands. who receive in the aggregate about
$4,000 a week. The men get from Sl.Z5
to 81 so per day-those who work in that
way and those who prefer to work by the
hundred still more.
II Is obvious to all acquainted with the
subject, that the manufacture of tobacco
in Virginia has seen its palmy days, and
that henceforth this important branch OF
business is destined TO decline. The heavy
bonds which every manufacturer has to
execute TO the Government, the tax of
forty cents pound, and the endless
charges of inspection, bonding &C., too
numerous TO mention, act as an lncu-
bus which weighs it down to the earth.
As there is no tax on the leaf, the working
of it up must necessarily be transferred to
places beyond the limits of the United
States. Several establishments are alrea-
dy getting into operation in Canada; and
some of our young men, acquainted with
the business, have been employed in Hall
fax, at high salaries, by British house
and in Australia, which was formerly one
of the best markets, the manufacture is
now carried on very extensively. In all
those places the expenses are inconsidera-
BILE in comparison with what they are here.
In proportion, therefore, as the manuiac-
ture in foreign parts increases, 1t must de-
crease here, until, in few yearS-it may
well be apprehended-it will languish and
die.
The late disturbances in Richmond have
produced profound sensation here among
rejecting men: and the question is natn-
rally asked, Where is it all to end? With
all the kindly feelings which belong to the
negro race, they are easily misled by those
in whom they place confidence; and heart
less and designing men are the most likely
TO gain an ascendancy over them. 1t is
impossible to contemplate the future Of the
southern States without fearful forebo-
dings.
Another failure has occurred here du-
ring the present week-that of MessrS.
Ashwell & Brother. They came here with
the Federal army and from that time to
this they have been doing large whole
sale and retail trade in the grocery bust
ness. Their liabilities are thought to be
from s25, 900 to $4,000.
The Catholic fair, though laboring under
the disadvantage of two rainy days, has
been literally patronized, and it is thought
the proceeds will be entirely satisfactory.
1t will close tonight, in order to make
preparations for the grand concert to come
off on Monday night. S.