"As I have remarked so oft, the value to me of folksong, tales, &c, is that they are all that has been salvaged from the terrible waste of talent there must have been when talented people, [which there always would have been in every part of society] had not other outlets for their creative impulses due to lack of education or opportunity."
MtheGM
That does read(to me) as if you think the folksong ,tales etc you value are
second rate because the people that originated and developed them were not educated and didn't have other outlets for their talent.
Is that what you meant?