Tobacco in Colonial Virginia: "The Sovereign Remedy" — John Shaqi
Tobacco in Colonial Virginia: "The Sovereign Remedy"Herndon, G. Melvin
History
Tobacco in Colonial Virginia: "The Sovereign Remedy"
Herndon, G. Melvin
Tobacco -- Virginia -- History; Virginia -- History -- Colonial period, ca. 1600-1775
The Peace of Utrecht in 1713 seems to have brought little relief.
Tobacco prices failed to improve until after the passage of the
inspection act in 1730. In 1731 tobacco sold for as much as twelve
shillings six pence per hundred pounds, despite the fact that Virginia
exported 34,000,000 pounds. In a further attempt to improve the quality
and the price of tobacco the General Assembly ordered the constables in
each district to enforce the law forbidding the planters to harvest
suckers. Anyone found tending suckers after the last of July was to be
heavily penalized. These two measures seem to have produced the desired
effects; in 1736 tobacco sold for fifteen shillings per hundred pounds.
Unlike Queen Anne's War, King George's War seemed to stimulate tobacco
prices and they remained relatively good for a number of years after
the Peace of Aix-la-Chapelle in 1748. During the early 1750's merchants
paid up to twenty shillings per hundred pounds, even though Virginia
had been exporting from 38,000,000 to 53,000,000 pounds annually.
During the French and Indian War the belligerents agreed to continue
the tobacco trade, but in spite of this arrangement there were unusual
price fluctuations owing primarily to inflation and occasional poor
crops. In 1755 a period of inflation was created when Virginia resorted
to the printing press for currency. At the same time war operations
hampered production and only about one-half of the usual annual crop
was produced, and tobacco prices rose to twenty shillings per hundred
weight. During the years of peace just prior to the American
Revolution, tobacco averaged about three pence per pound and never fell
below two pence. With the outbreak of hostilities the General Assembly
prohibited the exportation of tobacco to the British Empire.
Frequent overproduction and the numerous wars during the eighteenth
century seem to have caused more violent price fluctuations than those
of the previous century. Although the American colonies did not
participate in all of the wars involving England, all of them had their
effects upon the colonies. Virginia depended primarily upon England to
transport her tobacco crop and during the war years there was a
frequent shortage of ships used for the tobacco trade. As this cut off
the tobacco supply to the foreign markets, many of them began to grow
their supply of tobacco.
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