The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1868-01-30
QUA pErsRsRUsa LErTER.
.oor,s,ponaenos Of the Richmond Dispatch.
sarkets-Rcmarks and Quotations.
PErERspuae, January 20, 1868.

Sc acknowledgements and Quotations.
~a9 PErERspuae, January 20, 1868.
The most encouraging feature In our
market Is the steady though grauuaa ad-
vance in the prices Of cotton since the
bec;nn;nr of the year. At the close Of
tbe last wear it seemed to have found q
rea,inc point, and sanguine hopes are now
indulgcd, not without reason, that the
market is recovering q heaithful tone, and
that it will be maintained during the resi-
due of the season.. We have no idea that
the prices Of twelve months ago will be
realized again, but we shall probably be
free from the continual fluctuations and the
disturbing influences which were 80 disas-
trous to the trade last year.
Perhaps q, very brief review of the gene
raj progress of events in this connection
may be Of interest to your readers. It is
believed both here and in England that the
cotton trade Of 1867 is the gloomiest on re-
cord. The disasters Of 1866 fell upon
weather community, and were therefore
not SO severely felt; but the losses OF the
past season, while prodigious in amount,
befell community greatly impoverished,
and caused the most acute suffering. The
failure Of several of the most Important
cotton houses in England last spring was
severe shock to public confidence, and the
pressing Of their stocks on the market gave
a blow to the trade from which it is only
now beginning to recover. The effect was
felt in the United States, only in a less de-
gree. During all this time the English
factories worked up nearly as much cotton
weekly as in 1850, going to show that if no
panic had existed there was q full demand
for the cotton crop Of the world. But the
manufactures sunk in proportion, and being
made out of the raw material, bought at
high prices, immense losses were entailed
on the manufacturers. The vast reduc-
ton in the cost of cotton has, however,
been producing the natural result of in
creased consumption, and in proportion as
these elements become equalized we may
justly hope for something like permanent
revival of manufacturing industry, and q
moderate advance as well as greater sta,
bility in the cotton market.
The American cotton crop of 1857 is es.
timated at two and half millions Of bales
against 2,050,0 900 the year before. But as
100000 of the latter belonged to the crop o.
1866, it may be conceded that still larger
proportion Of the present crop will be with
held from market till after the lst Of Sep.
TENDER, when the repeal of the cotton taz
goes into effect. 1t is believed that the
production of Egyptian cotton has some.
what increased over the last year, while
that of India has fallen short from 200, 900
to 100000 bales. If these estimates be
correct, the universal crop will not differ
greatly from that Of 1866, which, so far 81
prices will be affected, is of encouraging
significance. -.
AIS southside Virginia is SO deeply IN
terested in cotton culture, these remarks
will not be deemed irrelevant.
The tobacco market is improving, and
though the receipts are moderate, prices
have advanced considerably in the course
of a few DAYS. As soon as the roads get
better it may be expected to come in more
freely. Several factories have resumed
operations, and the others will follow in q
short time.
In the grain and flour markets there has
been no change. The receipts Of wheat
are very light, and the stock of corn is
moderate.
We subioin the following quotations
Cotton.-Some lots Of prime have sold
to-day as high as tic. Running lots are
worm 10 10 1o12c' maih oV Aiu1, "Apn
large sales,
l0dacco.-With somewhat increased Of
ferings the market is better. Lugs, 81 to
$3.50; leaf, common to good, Sc to $40;
very good, $40 to sl4. Very little of the
better description has come forward yet.
Wheat and -four without change.
Corn.-We quote at $1.O5 to Sl.10.
Bacon.-Virginia hog-round, &c.,; hams
and sides, Is to Zoe. western shoulders
l21a. to &c.,; sides, IA to 15c. Market
well supplied.
Butter.-Country, rs to &c.; mountain,
rs to soc. Goshen, 40 to 45c. 5.