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Richmond, Richmond County, Virginia
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Extract of a letter from a Charlotte County planter to his neighbor, dated Dec. 1815 from Richmond, advising overseers not to sacrifice to procure wagons and to engage crops on reasonable terms, as tobacco prices will rise despite bank curtailments, falling London exchange, and merchant manipulations buying up hogsheads. He regrets his recent sale and notes continued price rise amid merchants' cries for money to buy tobacco.
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Extract of a letter from a Planter of Charlotte county, to his neighbor, dated Dec. 1815, from Richmond.
"Be so good as to ride over and tell my Overseers, that they need not make any sacrifice to procure waggons. Let them engage all of their Crops that they can't bring down with their own teams—provided they can be procured upon reasonable terms; Tobacco cannot fall—on the contrary, (in my judgment) it must rise. The pressure of the curtailment at the Banks, and the consequent fall of the exchange on London, cannot damp the market—nor even the arts of Merchants, (some of whom have great influence, to my knowledge, with the planters, who decry the article and employ agents to buy up every Hhd. they can lay their hands upon. The Planters lose, on an average, a vast deal of money, by rushing into the market instead of waiting until the crop is fit to ship. Indeed, some Shippers have been so imprudent as to ship new Tobacco.
" I have been congratulated on my great sale ; so I was last spring, when I sold a ten and fifteen dollars. Tobacco which would now command more than double that price. I consider my last sale as a bad one, and would give something handsome to be off the bargain.—Indeed. I should have left town three days before the last 6 Hhd's came in, but for the arrival of 's business."
P. S. Since writing the above, Tobacco has continued to rise, and yet the outcry of a want of money, was never louder among the Merchants—What do they want it for ? To buy Tobacco."
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Letter to Editor Details
Author
A Planter Of Charlotte County
Recipient
His Neighbor
Main Argument
tobacco prices will rise despite bank curtailments and merchant manipulations; planters should not rush to sell but wait until the crop is fit to ship, as rushing leads to losses.
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