122 MANAGEMENT AND SALE OF TIMBER. 



was letting for 10s. per acre, equal to (for 70 years), £35 



Original outlay upon planting, draining, enclosing, &c. 4 10 

 Compound interest on original outlay at 4 per cent. 65 11 5j- 



£105 1 5j 



From the above calculations it appears that planting in this 

 instance has not proved so remunerative to the proprietor as let- 

 ting the ground for grazing. No interest is calculated upon the 

 rents, as it is considered the grass in the plantation to whatever 

 account it is turned is, at least, equal to the interest. 



The value of the above plantation is struck at 70 years 1 

 planted, though at that period it was not all cut down, but stood 

 and yielded timber at the rate of 3 trees per acre annually. This 

 continued for about 12 years, but during that period the crop did 

 not increase in value (taking into account the trees cleared from 

 it), but gradually decreased to the present time, when only a few 

 straggling trees remain for the sake of the landscape. This fall- 

 ing in value was in part owing to ground rot in some, dry rot in 

 others (such as those tall and thin of branches), and coagulation 

 of the rosin in the top parts of others. Some trees were also 

 occasionally blown down with the wind, while a general falling 

 off in growth pervaded the whole. 



The value of the thinning throughout may be considered as 

 equivalent to the expenses of labour, and looking over the plan- 

 tations, and it is also worthy of remark that this plantation 

 might have been laid open for grazing purposes from 25 years 

 planted, for which, as already stated, a small rent might have 

 been obtained, at least equivalent to the interest upon the pro- 

 per rents. From 50 years to 70 it would have been worth two- 

 thirds of the ground outside the fence. 



The whole of the crop of this plantation was not ripe and 

 matured at one and same time, that on the poor, dry, and hard 

 ground, should not have been cut down along with that upon 

 the richer, soft, and deeper soil, because while the latter attained 

 its highest state of perfection in 70 years, that of the former 

 would not have been ready to cut under 120 years. Again, while 

 the quality of the heart-wood grown upon the good soil was only 

 equal to that of the sap-wood of the same tree in point of dura- 

 bility, it may justly and fairly be expected that the heart-wood 

 of that upon the poor soil, if allowed to stand till perfectly 

 matured and ripe, would be nearly equal in durability to that of 

 British oak. 



The timber cut from this plantation since 50 years planted 

 was mostly used in farm building. Some of it cut at 56 years 



