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From Petersburg.
[special Correspondence of the Dispatch.]

Petersburg May 2d, 1861.
While troops are pouring in from various parts of the State, it has been determined, as I learn, by the proper authorities, to form an encampment near this city. There are fine grounds for the purpose, both to the south and west; the Fair Grounds of the Union Agricultural Society, as affording refreshing shade and a cool, sparkling fountain, would be an admirable locality, as the warm weather is approaching. The encampment will be made up chiefly of the volunteers from the adjacent counties.

A Columbiad of huge dimensions, and of 10-inch bore, cast in Richmond, was conveyed through Petersburg to-day, destined for North Carolina. Its weight is 16,000 lbs. Its formidable appearance excited a great deal of curiosity.

The new company of Archer Volunteers, commanded by Capt. F. H. Archer, 100 strong, paraded through the streets to-day for the first time. They are fine, able bodied men, and have enlisted for the war. Captain A. acquired high military distinction in the Mexican war, and will render a good account of his company should be come into hostile collision with the best Northern troops that may profane our soil.

A most enthusiastic reception will be given to the First Regiment of North Carolina, consisting of one thousand volunteers, which is expected to arrive to-morrow. It is represented to be composed of the finest military companies in the State, all in perfect drill, and thoroughly armed and equipped.

The blockade of James river intercepts the Northern mails, and cuts off the provisions which are usually obtained by our merchants from the Baltimore market. We may expect to experience much inconvenience, but it will be cheerfully born.

Considerable relief has been afforded by the issue of one thousand dollars, in small notes, by the Farmers' Bank of Virginia, within the past day or two. But fractions of dollars are still needed, which we shall soon have under the authority of the corporation.

Moe CŒur.

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