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Richmond, Virginia
What is this article about?
Trade report from Rio de Janeiro, Oct 24-28, 1831: Flour ships arrive from US ports amid stagnant market and cash shortage; high interest rates; town excitement over arms discovery and alleged mulatto uprising plot. Coffee demand rises; no further unrest.
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"RIO DE JANEIRO, 24th Oct. 1831.
We last addressed you on the 11th inst.-since then the following vessels have arrived with Flour:
Ship Maria, from Richmond.
Brig Brown, from do
Ship Jupiter, from do
Brig Argyle, from Baltimore.
The Jupiter has sailed for the La Plata; and the Richard, Centurion, Zelia, Olympia, Col. Howard, Charleston Packet, Swiftsure, from Richmond, are all looked for soon.
The article, like every thing else, is entirely without demand. The bakers are largely supplied with old, and will not purchase; nor indeed can they pay for what they have on hand. Nothing is selling or in demand. Offers cannot be had for staple articles. To force sales, even at low prices & for cash, is almost impossible, nor do we see any prospect of things becoming better for a long time.-
Interest of money is 1 a 2 per cent. per month, and will go still higher; in fact there is no money in the place and therefore no business is transacting.
We may quote flour at 11 a 12£. nominal for Richmond; Baltimore 9£ a 10s, new; old 6£ a 7£.
The new Baltimore Flour latterly arrived is soft and fresh, but dark.
There is a considerable excitement in town owing to a discovery of deposits of arms; and information being given to the authorities of a desperate attempt being contemplated by the mulattoes to overthrow the government.
Rio Janeiro, Oct 28th. 1831
Since the foregoing, we have had three more arrivals of Flour, the article continues heavy, the supply so much exceeding the demand 16,700 bls. of new Flour have arrived, of which about 5000 bls have gone forward south: advices thence we regret to say are equally discouraging.
Coffee in lively demand. prime lots scarce and procured at an advance of 10d rs. on our last quotations -in other articles no alterations We have had no further disturbances since the 7th inst'"
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Where did it happen?
Foreign News Details
Primary Location
Rio De Janeiro
Event Date
24th Oct. 1831 And 28th Oct. 1831
Outcome
flour market stagnant with no demand; coffee in lively demand at advance; no further disturbances reported
Event Details
Arrivals of flour vessels from Richmond and Baltimore reported; market for flour and other articles without demand, bakers supplied with old stock; interest rates 1-2% per month, no money available for business; flour quoted at 11-12£ nominal for Richmond, 9£-10s for new Baltimore, 6£-7£ for old; new Baltimore flour soft, fresh but dark; excitement in town due to discovery of arms deposits and information of mulattoes plotting to overthrow government. On Oct 28, three more flour arrivals, 16,700 bbls new flour arrived with 5,000 bbls forwarded south; discouraging advices from south; coffee demand lively, prime lots scarce at 10 dollars advance; no alterations in other articles; no further disturbances since 7th inst.