The history of agriculture—slow and stubborn industry that it is—will hardly show stronger changes than have taken place in the rural communities of the South in the past fifteen years. Immediately after the war between the States there was a period of unprecedented disaster. The surrender of the Confederate armies found the plantations of the South stripped of houses, fences, stock, and implements. The planters were without means or prospects, and uncertain as to what should be done. The belief that extensive cotton culture had perished with slavery had put the price of the staple up to thirty cents. Lured by the dazzling price, which gave them credit as well as hope, the owners of the plantations prepared for vast operations. They refitted their quarters, repaired their fences, summoned hundreds of negro croppers at high prices, and invested lavishly their borrowed capital in what they felt sure was a veritable bonanza. The few years that followed are full of sickening failure. Planters who had been princes in wealth and possessions suddenly found themselves irretrievably in debt and reduced to beggary. Under the stimulation of high prices the crops grew, until there was a tumble from thirty to ten cents per pound. Unable to meet their engagements with their factors, who, suddenly awakening to the peril of the situation, refused to make further advances or grant extensions, the planters had no recourse but to throw their lands on the market. But so terrible had been their experience—many losing $100,000 in a single season—that no buyers were found for the plantations on which they had been wrecked. The result of this panic to sell and disinclination to buy was a toppling of land values. Plantations that had brought from $100,000 to $150,000 before the war, and even since, were sold at $6000 to $10,000, or hung on the hands of the planter and his factor at any price whatever. The ruin seemed to be universal and complete, and the old plantation system, it then seemed, had perished utterly and forever. While no definite reason was given for the failure—free labor and the credit system being the causes usually and loosely assigned—it went without contradiction that the system of planting under which the South had amassed its riches and lived in luxury was inexorably doomed.