123 



FARMERS' REGISTER. 



[No. 2. 



DELINQUENT SUBSCRIBERS. 



Before issuing this 2nd No. of Vol. Ill, we have 

 erased from our list nearly all the names of those sub- 

 scribers who have received the Farmers' Register from 

 the commencement of vol. I, and have made no pay- 

 ment whatever. If among these there should be in- 

 cluded the names of some whose payments have re- 

 mained due merely from inattention, the erasure will 

 be cause for regret, but is a consequence which the 

 publisher cannot possibly avoid. 



This measure will make a heavy nominal reduction 

 of the list of supporters of the Farmers' Register — 

 but will be in truth a considerable addition to the clear 

 profit of the publication. Heretofore this journal has 

 been sent to every person who wrote for it, and even to 

 those in the most remote parts of the United States, 

 though totally unknown, and when the orders for the 

 work were accompanied by neither money nor availa- 

 ble references. Under such circumstances, (justifiable 

 only by the necessity of extending the circulation of a 

 new work,) it might be expected that there would be 

 very many bad debts. But this extent of confidence 

 has not been often abused: and, taken altogether, 

 the payments have been made with a rare degree of 

 punctuality — and if every subscription now erased re- 

 mains in default, the proportion of payments made 

 will still be unusually large. It is hoped and believed 

 that the present reduction of numbers will leave a still 

 more sure and solid support to the work. 



TERMS OF PUBLICATION FOR FARMERS REGISTER 



1. The Farmers' Register is published in monthly 

 numbers, of 64 large octavo pages each, and neatly 

 covered, at $5 a year — payable in advance. 



2. Or five new subscribers by sending their names 

 and $20 at one time to the editor, will receive their 

 copies for one year, for that sum, or at $4 for each. 

 Purchasers of any 5 volumes (except Vol. I.) at one 

 time in like manner, shall have them for $20. 



3. The risk of loss of payments for subscriptions, 

 which have been properly committed to the mail, or to 

 the hands of a postmaster, is assumed by the editor. 



4. For all copies not received by mail, duplicates 

 will be furnished to those subscribers who have com- 

 plied with their own obligations. 



5. If a subscription is not directed to be discontinued 

 before the first number of the next volume has been 

 published, it will be taken as a continuance for ano- 

 ther year. 



6. The mutual obligations of the publisher and sub- 

 scriber, for the year, are fully incurred as soon as the 

 first number of the volume is issued: and after that 

 time, no discontinuance of a subscription will be per- 

 mitted. Nor will a subscription be discontinued for 

 any earlier notice, while any thing thereon remains 

 due, unless at the option of the editor. 



AGENCY FOR THE FARMERS REGISTER. 



James Anderson, Esq. (now of Richmond) is ap- 

 pointed agent for the Farmers' Register, and is author- 

 ized to receive the names and payments of new sub- 

 scribers. With this object, Mr. Anderson will soon 

 commence a tour through Virginia, commencing with 

 someof the upper counties. 



This agency will in no way affect any other previous 

 arrangements, nor the directions for transmitting other 

 names and payments stated in the terms of publica- 

 tion. 



NOTE TO PROF. DEff's ESSAY ON PRICE.* 



The price of lands in Virginia will be kept 

 down in some measure, by the disproportionate 

 rise in the price of negroes, for this reason. Land 

 and negroes make up the capital of the larnier; 

 and the produce which he sells after deducting the 

 expense of cultivation, constitute his net revenue, 

 or profits. Now supposing the value of negroes 

 to increase very rapidly, it is evident that the 

 amount of the farmers capital will increase in the 

 same proportion, provided the value of the land 

 does not change. That being the case, if his pro- 

 ductions remain stationary, or do not increase pro- 

 portionally in price, it is evident there will be a 

 fall in agricultural profits. Thus suppose there be 

 a farm with 40 negroes, valued at #10,000 while 

 the land is valued at the same, making an aggre- 

 gate capital of $20,000. Suppose the produce 

 after deducting expenses of cultivation, to sell lor 

 $2,000, the latter will he the farmer's profits on 

 #20,000, a profit of 10 per cent. Now suppose a 

 sudden rise to take place in negroes, so that the 

 40 are worth $20,000, t nen the capital of that far- 

 mer swells to $(30,000, and if you suppose the 

 price of his neat produce ("prodwti »etf,") to sell for 

 #2,000 only, as before, then his profits will fall to 

 6§ per cent. The consequence would be that 

 persons with money capital u r ould not buy land 

 and negroes because of this fall in profits, and 

 that w T ould occasion a fall in land, till agricultural 

 profits bore a proper ratio to agricultural capital. 

 Now the present rise in the price of negroes being 

 occasioned more by causes extraneous to Virginia, 

 than by the rise of her own native product^, upon 

 the principle just elucidated, this rise in price will 

 rather have a tendency to check any rise which 

 might otherwise take place in lands, and of course 

 to prevent the speculating rage from reaching 

 them to the same extent as in the south-western 

 cotton country, where the price of cotton, and the 

 extension of the credit system to its utmost limits, 

 will most certainly push the mania for land specu- 

 lation to a most perilous and alarming extent, soon 

 to be checked by one of those disastrous revul- 

 sions, which will spread ruin and dismay through- 

 out that country. In the mean time, the whole 

 banking system of the south-west, if not judicious- 

 ly managed, may be looked upon as the mighty 

 engine, of the times, which by its potent agency, 

 will hasten on the crisis, and magnify the calami- 

 ties of the final catastrophe. 



*This was received after the article for which it was 

 designed, had been printed, and therefore the note ne- 

 cessarily stands separately. 



