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 tobacco crops were small almost every year during the Revolution.
Owing to the increase in the demand for foodstuffs many of the planters
switched from tobacco to wheat. During the first year of the war
tobacco exports dropped from 55,000,000 to 14,500,000 pounds. It has
been said that for the entire period 1776-1782 Virginia's exports were
less than her exports of a single year before the Revolution. Wartime
prices and inflation caused tobacco prices to increase from eighteen
shillings per hundred pounds in 1775 to 2,000 shillings, in Continental
currency, in 1781. An official account in the latter part of 1780
related that twenty-five shillings per hundred pounds in specie was
considered a very substantial price. A very small crop in 1782 was
followed by one that topped any of the pre-war crops, and by 1787
prices had fallen to fifteen pence per pound. Prices dropped to $12.00
in 1791, and a period of relatively low prices continued until 1797
when prices increased as a result of an extensive shift from tobacco to
wheat. In 1800 prices dropped to $7.40 per hundred pounds as Virginia
exported a near record crop of over 78,000 hogsheads of tobacco.
VIRGINIA TOBACCO PRICES AND EXPORTS, 1615-1789
A complete and accurate price table would be virtually impossible to
compile. Some of these averages represent only single individual
quotations, or the average of only two or three such quotations. These
charts are intended to give the reader a general picture of the prices
during the Colonial period.
Year Average Price Average Price Pounds Exported
per Lb. per Cwt.
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