PROCEEDINGS OF THE FARMERS* CLUB. 225 



feeds. The demand for the trees, and the advancing price, soon 

 attracted the speculator; and so wild did the people become on 

 the subject, that a mania prevailed in the country, well-known as 

 the " morus multicaulis speculation." Many of the silk growers 

 lost sight of their legitimate business, and, like others, were 

 involved in the ruin that soon followed. It is here proper to 

 remark that this tree speculation had nothing whatever to do 

 with the legitimate business of silk culture, but so connected 

 have they become even in the minds of the intelligent, that the 

 disasters of both are considered one and the same thing; but it 

 is now quite time that an error so injurious in its consequences 

 should be disposed of. A quarter of a century is quite long 

 enough for a popular prejudice to have been dissipated, and a 

 thinking, intelligent people should examine and learn the truth 

 for themselves, and act in accordance. The silk business, when 

 it most needed the fostering hand of government, received a 

 finishing blow, by an act of Congress taking off all protection. 

 This act is said to have been passed at the time to satisfy the 

 nullifying Senator of South Carolina, John C. Calhoun, who had 

 lately changed his tactics on the tarifl' question, making it a plea 

 for South Carolina to destroy the Union. The evidence on record 

 up to this date proves, beyond all doubt, that under a fair pro- 

 tective tariff, the silk culture in this country is both practical 

 and profitable. I know of no branch of agricultural industry 

 whereby so much was produced to profit with the same amount 

 of labor and capital. I would at this time call the especial atten- 

 tion of my countrymen to the fact that some suitable branch of 

 labor must be provided for the respectable class of females. The 

 war that is now raging will naturally give a preponderating 

 female population, and some suitable employment must be pro- 

 vided for it ; and in no business can women be so profitably and 

 respectably employed as in the production of silk. The draft 

 upon our national resources for imported silk has been one of 

 great magnitude ; and now, while our country is bleeding at every 

 pore, this silken artery should be closed. If patriotism, if love 

 of independence are the offspring of America, let us unite our 

 efibrts, and by the aid of our legislators, our representatives, and 

 an intelligent agricultural people, at once encourage, protect and 

 foster the production of American silk. 



Dr. Holton read extracts from several French authors, in rela- 



[Am. Inst.] O 



