1839] 



FARMERS' REGISTER. 



61 



ulation; and if it had continued to be as baseless 

 as it tlien was, tiie price would probably have fallen 

 before this time. However little of the reasoning 

 process there may be in deriving proper views oi' 

 the profits of silk-culture from the existence of a 

 baseless mulberry speculation and mania, there 

 seems now to be good ground to believe that such 

 has been the effect; and that very many persons 

 have thus had their minds, for the first time, effect- 

 ually directed to this valuable and (as we have 

 long maintained as to Virginia,) profitable branch 

 of industry. We may venture now to say that 

 silk-culture will be commenced by many persons 

 in Virginia and other southern states, and fairly 

 tried ; however little creditable it may be to the 

 judgment of the people that this good result will 

 have been produced, not by the sufficient proper in- 

 ducements which have long existed, and been to- 

 tally disregarded, but by the stronger stimulus of 

 the mulberry mania; which ought rather to de- 

 press than to encourage silk-culture, by making 

 the undertaking so nmch more costly. But correct 

 reasoning is seldom the mode by wbich commu- 

 nities arrive at results, or are induced to make 

 changes of old habits ; and if such a beneficial 

 change is now to be made, in the adoption of silk- 

 culture, we may be content to welcome the benefit, 

 without scrutinizing too closely the legitimacy of 

 its origin. 



Before the commencement of the speculation in 

 mulberry plants, all the establishments for silk- 

 culture of this country, which had for some years 

 been so conspicuous on paper, were in the north- 

 ern and middle states; and to that time, nothing 

 had been perlbrmed by any of the numerous silk- 

 con)panies, to redeem their promises and make 

 good their great pretensions. The facts in regard 

 to these liberal promises and small performances 

 were stated at sufficient length in the article above 

 referred to, and also in another, subsequently, by 

 T. S. Pleasants, commenced at page 449 of vol. 

 VI. !n the south, almost nothing had then been 

 done, either according to the northern fashion of 

 conducting silk-culture, or truly and really by feed- 

 ing silk-worms, and producing silk. The mania 

 for buying mulberry plants spread from the 

 north where it commenced, even more rapidly 

 through Virginia and the adjacent states. But 

 most of the purchasers were of different charac- 

 ter, and so will be the effects of their operations, 

 whether caused at first by delusion, or by correct 

 views. At the north, after prices had been ad- 

 vancing, and the mania growing, for several 

 months, and when sales were making daily, and 

 ihe contracts perhaps had covered an amount far 

 exceeding that at which all the multicaulis plants 

 in the world would have been estimated a few 

 months previously — still the buyers were nearly 



all mere speculators, and of the most transient 

 operation, who designed to sell again, and very 

 speedily. Very lew purchases had been made by 

 farmers, or persons who designed to plant ; and, 

 very often, the same lot of plants had been sold 

 several times over, and at continually advancing 

 prices, while they were still growing in the ground 

 of the original proprietor. So far as these went, 

 and they were the principal operations, the trade 

 was simply and purely a speculation, having no 

 regard to the intrinsic value, or future uses of the 

 commodity. 



As soon as the new and great demand was ge- 

 nerally made known in Virginia, (though it was 

 not soon enough to prevent many lots being 

 bought up at half-price by speculators,) the fever 

 spread and raged here more than even at the 

 north. For instead of being confined there to 

 mere traders in the then existing plants, there 

 arose here a very extensive demand among far- 

 mers and others who bought to plant. Thus, ex- 

 cept a few large purchases made to supply the great 

 and general demand for small parcels for plant- 

 ing, and which served merely to supply that de- 

 mand, every purchaser in Virginia bought to make 

 profit by planting, and the future increase and ex- 

 pected value of the product. It is true, that all 

 of these persons also were speculators, though in 

 a different sense. They differed from others in 

 this only, that they speculated on the market va- 

 lue of the future product, instead of the present 

 stock purchased by them. But though the large 

 majority of the numerous southern purchasers 

 (unfortunately,) had no view to silk-culture, and 

 many also deluded themselves by extravagant ex- 

 pectations of high prices of future crops of plants 

 — still there are enough of them who design to 

 commence silk-culture proper, to insure fair and 

 extensive trials, and the sure establishment of 

 that branch of industry, should it be approved by 

 the first adventurers. Should this be the result, 

 or even a sufficient promise of it appear durinn^ 

 this year, there will be hundreds of those who 

 bought upon mere speculation, who will deem it 

 profitable to retain part of their stock this year, 

 and to increase it hereafter, for its legitimate use 

 in feeding silkworms. 



To produce the beneficial and important result 

 of establishing silk culture in Virginia, and there- 

 by to insure a demand for all the growing trees, it is 

 not at all necessary that every one, or that most, 

 of those who have bought mulberry plants shall 

 commence that business. If one only in twenty of 

 the present buyers,oronein five hundred of the far- 

 mers who are properly situated for it, should be- 

 gin to raise silk, these will be -enough to spread 

 the business, and to maintain a sufficient demand 

 for plants through this year. 



