The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1867-08-27
LETTER FROM PETERSBURG.
Correspondence OF the Richmond Dispatch.
prrrpsRrpc Aupns

PETERSBURG, August "a, 1867.
The rivalry between Norfolk and Peters
burg for the cotton trade Of North caro-
lima has sprung up lately with increased
animation. The cotton year begins the
first of September, and hence the necessity
of opening the campaign in time.
It is desirable to see generous emula-
ton between neighboring markets, and 1t
l. hoped that in the present case it will not
exceed the limits of fairness and propriety.
Knowing the Petersburg merchants as well
aldo. it may be safely asserted OF them
that they will use no undue means to mag
n;fv the value of their own market, or de-
nrcc;atc that of their neighbours. The
1,r;yr Is we'll worth contending fort is
rich enough, indeed, if fairly dlVlded, 10
add greatly to the prosperity OF both
places. ,o ,o.n oo,ros0
;rg North Carolina give tlatterlng report
nt ,bn condition of the cotton crop. 1t is
tboncht that the product in that State will
w. ronsideraby in excess of the last. The
; ~ has been wonderful within
.ha last six weeks. 1t is rather later than
nsral. but if there should be no early frosts
it will all be well.
TIE corn CIUD, 10 WY PoSAS
and has been badly cultivated. All or
most of the available labor seems to have
been bestowed on the money crops in pre-
ference to the bread crops. Planters, OF
course, may be said to know their own bu-
siness best, but the wisdom of such
policy is at least questionable.
1t turns out now that our wheat crop IS
sadly deficient. Instead of being fifth,
as estimated lately in the Dispatch, 1t Will
probably fall short of one-tenth OF the
product Of 1860 in all the country east OF
The Blue Ridge. 1t will, indeed, scarcely
eycecd third Of what was regarded at
harvest as fair yield OF the incoming
CROP. A gentleman near this city VINO
calculated confidently on thousand
bushels measures up only 3oO ana MAJOR
Allen. who expected to get ~ ooo pusheis
from his fine estates on James river,
tbreshes out only 1000. And this Is about
fair proportion of the actual compared
with the anticipated product, as far as
heard from. Add to this that much the
larger portion is Of inferior quality.
If not grain Of wheat had been raised
IN VIRGINIA or the South this season, 1t is
not probable that the market would be
seriously affected. 1t is but drop IN the
bucket, under our present agricultural
depression, compared with the crops OF
the West and Northwest. In view, then,
of the continued high prices, what conclu-
sion can we arrive at but that the product
in the country at large falls short of the
estimate ! Possibly the reports of damaged
crops in England and France may have
had some effect in maintaining prices, but
it is premature to be specializing now on
the basis of a dearth in countries where
the harvest is not yet over.
Our market during the past week has
been moderately active. Tobacco has re-
covered what it lost the week before, and
cotton keeps up at &c to 27c. for middling.
Red wheat, $3.50 to 81, as per quality !;
and prime wheat, $3.50 to $2.35. Receipts
of cotton, $50 bales against 10 last week ;
of tobacco, 2S5 hogsheads against 239 the
previous week and of wheat the sales
amount to not more than 5000 or 1000
bushels. 5.