Bottom trim. I say, "maybe" because my latest research suggest that maybe that isn't a partlet at all, but something known as "pattern darning". I've found only one example of vertical pattern darning, but lots of evidence that it was used horizontally, especially on shirt collars. I'm certain that the neckline of the hemd is pattern darned. Look:
Pattern Darning on pleated hemd color, and possible horizontal pattern-darning on hemd.
OR
My original theory was that the "rays" seen in the very top picture were sections of a partlet, but now I wonder if the fabric is not "appliqued" on top of the pleats, like this lace has been overlaid on a shirt cuff:
Back of cuff
Front of cuff with lace overlay
If pleating weren't so difficult and my linen so finite, I'd try them both. I DO have zillions of yards of almost-white mystery fabric to experiment with...






