The meaning of this sentence is: "There must be valuable content that can be recorded in folklore; there should also be good works that are in line with the spirit of elegance in the folk songs sung by the people."
General idea: This sentence emphasizes the value of folklore and folk songs, believing that they may contain meaningful and precious content that is worthy of our collection, appreciation and study.
Notes:
* Street talk: refers to folklore.
* There must be something to collect: There must be valuable content that can be collected.
* The song of beating the shaft: singing while beating the shaft of the cart, here refers to folk songs.
* There should be fengya: there should be good works that are in line with the spirit of elegance.
Source: This sentence comes from "Reply to Zhang Shiyi" by Han Yu, a writer of the Tang Dynasty.
Translation: This sentence means that folklore and folk songs are worthy of our attention and exploration, because they may contain meaningful and precious content.