The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1867-05-08

Correspondence OF the Richmond Dispatch.
PETE RsBURa, May 5, 1867


subject Of immigration. Had tue '"on
bers Of the late Virginia LEGISLATURE, vi
majority of them, been practical iaiheis,
and heen personally cognizant OF the
scarcity and unreliability OF the present
cIass Of laborers, they never would nave
refused. the miserable pittance OF Ten
thonsand dollars, so modestly asked TOT o!
the BOARD of Emigration. From all ina.
I can learn Of the farmers OF the aoJaccn'
counties. labor is more unsettled anu mort
d;1icult of procurement this year thah the
last. And not only this, but the anxiety
of farmers to supply themselves has tended
vcrv much 10 advance the rate OF wages,
;nsomuch that even when it is practicable
obtain the desired number of hands, little
or no margin is left for profit. Nothing but
the certainty Of good season, bountiful
harvest, and high prices, can justify fifteen
dollars month, with the attendant ex-
penses. The negro, however, is more
fastidious in his tastes, and harder to
please in all his accommodations, than
while he was in o state of bondage. This
is the natural result Of his freedom, and is
not stated as a matter Of reproach. 1t would
be the case with all Of us under like cir
cumstances.
And if the present year in this regard is
worse than the last, what are We TO expect
in the future, since the whole OF our Ia
boring class has been invested with eiecto-
raj rights A vast field is now opened Tor
men who are seekers after office, and we
NAV he sure il will be occupied. We may
even anticipate that il will be aSpired after
by prominent and influential colored men
and there are some who have both lnflu-
ence and talent. An active political cam
na;Cn has always had disturbing effect on
The industrial pursuits of the country,
and the introduction of a new element into
the voting population, even more excltaole
than the old, is well calculated to render
every pursuit still more unstable. AS
long, therefore, as the present state OF
things continues, it will be unreasonable 10
look for any resuscitation or any improve
ment in Eastern Virginia.
We are under the memorable necessity,
then. of doing somethng-since the Legs
laturc refused to lend helping hand-to
attract emigrants within our borders. The
most feasible scheme would be to organize
societies in the cities, which shall be repre-
sented by an active agent; and auxiliary
societies in the several counties, composed
of practical farmers and men OF properly.
The central society would be thus able 10
collect vast amount of valuable lntorma-
ton concerning every part OF the country,
which would be extremely useful 10 per-
sons desiring to settle in the State, ana
which they would not be able to obtain IN
any other manner. For as long as we wait
for emigrants to obtain the information by
personal explanations, the country will re-
main terra ;nc0gnitd for long years.
What we need first of all towards re-
viving the prosperity of the State is class
of small farmers, bringing their sons with
them, and money enough to buy farms OF
moderate size. This sort of emigration
will attract day laborers. And our land
holders should make up their minds to sell
their surplus lands to such persons at the
most reasonable prices. 1t will, in fact, be
a long time at best before lands in Eastern
Virginia will rise sensibly in value; and
for the plain reason that almost every farmer
is in debt: and to liquidate the aggregate
Indebtedness would require, under compul-
sorry process, almost every acre Of land
from the head of tide-water, if not from
the mountains, to the sea.
1t may not be in our generation, but the
day will come when Eastern Virginia will
be the garden of the Atlantic coast. Emf
grafton may at first be very gradual, but
when once set in, it may be expected to
increase in almost geometrical proportion
for few countries can offer such advantages
of soil and climate, with the best markets
ofthe world-New York, Philadelphia, and
Baltimore-all accessible in twenty -four
hours or less. ).
PETERSBURG, May 6, 1867.
Though the credit system has been
nominally abolished since the war, yet,
practically, merchants are under the ne
cesSity of giving short time to many OF their
old country customers. But, by the force OF
circumstances, the short time has, for the
most part, been indefinitely prolonged. II
was thought that country merchants, VINO
were formerly very punctual, would MAKE
a point to keep up their character; put
having to credit their own immediate GUS
toners the neighboring farmers, they
could only pay for goods in proportion as
their own collections were made. IL Is 10
the INABILITY of the country people 10 pay
~. ;ndahiedness, more than to any other
canse that the present extreme pressure
: ',;nr Almost every house of any note
$3.50 or less straitened, from the failure
&c .be;r customers to meet their obliga-
tions. - ,,
- cement. A great deal Of money has
heen lost by moneyed men here in cotton
eculations-amounting in the aggregate,
IL is supposed, to several hundred thousand
dollars. The sum, at any rate, cannot be
insignificant, from the fact that prices have
been gradually declining from the maxi
mum, sixty-fve cents, to the late minimum
of twenty cents. Occasionally there has
been a rejection in the market, and the
price of middling may now be quoted at
twenty -four; but who can hope ever to
see it again as high as fifty! Whenever it
has halted for few days at a certain de-
cline, enthusiastic operators were not
wanting, who persuaded themselves that it
would take rebound, and invested ac-
cordingly. Houses that have kept aloof
from speculation and done regular COM
mission business have reason TO be salts
fed with their profits-their balance sheets
showing, as learn, from six to eight and
ten thousand dollars in their favor. But Of
course this is only partially available, as
advances to greater or less extent have
been made by all to farmers on the faith
of their growing crops.
Though the great majority of our people
were utterly Frustrated by the war, yet
there were some who accumulated hand
some fortunes by investing their Confede-
rate money in cotton and tobacco large