60 



FARMERS' REGISTER 



[No. 1 



grass seed and plaster, besides the improvement 

 of your land, you would have in the ten years, 

 converted all your cattle into Durham, wiihout a 

 bull of that breed. I do not mean to throw a 

 damp on judicious importations of slocks, &c. I 

 only mean to ridicule tliat class, who are guilty of 

 the lolly of supposing they can make a week's old 

 bantling, a man, by going lo a tailor's and buy- 

 ing him a man's suit of clothes; instead of nour- 

 ishing him well, and keeping him warm, and giv- 

 ing him time to grow, and develope, with nature's 

 aid, the resources hidden within him. 



Mr. Editor I see you yawn. I take the hint, 

 and am, yours, &c. Anti-Humbug. 



PROGRESS OF THE MORUS MULTICAULIS 

 TRADE, AND PROSPECT OF FUTURE PRICES. 



Inquiries have been frequently made, by letters 

 as well as verbally, and proceeding from s:tran- 

 gers as well as /i-om acquaintances, as to our 

 opinions in regard to the probable continuance, or 

 decline, of the high prices of morus multicaulis 

 plants — and consequently, the expediency, thence 

 to be inferred, of entering upon, or avoiding, the 

 "mulberry speculation." These inquiries have 

 been answered to the best of our judgment, not 

 only by our published and general views, but also 

 privately and specially. Still, we have felt re- 

 luctant to express opinions, or give advice, not only 

 because the progress of the speculation had out- 

 stripped and belied all our previous calculations, 

 but also because our private interest, of owner- 

 ship, had become deeply involved in the market 

 value of the plants. 



The views which we entertain on this subject 

 are, perhaps, but of little worth; but such as they 

 are, they v/ill be given here li-ankly, in answer to 

 particular inquirers, as well as (or the information 

 of readers, and the agricultural public in general. 



The prices of multicaulis plants have, in the gene- 

 ral, been slowly advancing, from the time in Sep- 

 tember when we pronounced them to be exorbi- 

 tant, to this day. There was a decline in No- 

 vember, which seemed to indicate the bursting of 

 the bubble of speculation, or factitious prices. Eut 

 the depression was but transient, and was caused 

 by that being the time for paying for all the prior 

 purchases ; and many persons who had bought 

 ■without money, and expected lo pay by their profits 

 on sales, were compelled to put the plants in mar- 

 ket, and sell them at any price which could then 

 be obtained, to meet the debts incurred by their 

 purchase. Since,' the prices have not only return- 

 ed to their previous mark, but iiave gone beyond. 

 The regular and current prices now, in Richmond, 

 are 3 cents the bud, lor cuttings, or entire plants 

 exclusive of roots — 20 cents for roots of fdants of 

 one year's growth from cuttings — and 20 cents 

 the foot for trees of that age and kind, with or 



wiihout lateral branches, and taken as they come. 

 There are not many plants now in market, as 

 nearly all are now held to plant; and neither are 

 there many persons seeking to buy at present. 

 There are, however, enough both of buyers and 

 sellers to show prices fairly. 



Several public auction sales have been recently 

 made in New York, and reported in the newspa- 

 pers as having brought much higher prices than 

 the above mentioned — as high as 25 to 30 cents, 

 the loot fur small plants; which would be equal to 

 about 4 cents the bud, ripe and green — if any of 

 the wood was immuture. But we have no faith in 

 the reports of these auction sales; as it is very easy, 

 by fraudulent combination, and nctitious bidding, 

 to make prices appear to be as high as the parties 

 may please, or may dare to venture on the public 

 credulity. 



The occurrence of one or the other of the op- 

 posite results, either of the stock of plants now in 

 this country being of immense value to the own- 

 ers and the public, or of no value whatever, will 

 depend upon this — whether silk culture proper shall 

 really be commenced and prosecuted to any con- 

 siderable extent, or that no more is done towards 

 that end than had been when this mulberry spec- 

 lation was produced, and the prices were rising to 

 their height. If the first-named and most desira- 

 ble result should be produced, and the culture of 

 silk should be established, so as to promise soon 

 to become an important branch of industry in the 

 United States, then there will be sufficient demand 

 for every multicaulis plant that can be raised in 

 1839, and at prices yielding good profits to those 

 who plant even at the present high prices of cut- 

 tings. But if there should be no more solidify in the 

 present increased and more extended movements 

 towards silk-culture, than was in all those of the 

 north, which had so much sought to attract public 

 attention and gain notoriety, previous to the be- 

 ginning of this speculation, then the value of plants 

 will sink to nothing as soon as the bubble bursts; 

 and the mulberry mania will compare in all re- 

 spects with the famous tulip-mania of Holland, 

 and serve to produce, and to leave, as little ol real 

 value to the holders, or to the country at large. 



In an article of considerable length published in 

 our last October number, we stated fully, and 

 proved, that the previous pretended silk-culture of 

 the northern and middle states had resulted in al- 

 most nothing; and then supposing that the future 

 was to be judged by the past operations, we pro- 

 nounced the then rising demand and prices of mul- 

 ticaulis plants as the work and effect of specula- 

 lion. And we believe now, as much as when the 

 opinion was first declared, that the sudden and ra- 

 pid advance of the market price of multicaulis 

 plants was almost entirely built upon trading spec- 



