384 STATE BOARD OF AGRICULTURE. 



This balance of ^629.81 is the difference between the receipts obtain- 

 able at the end of the o-year rotation and the total cash investment in 

 stock and planting costs, together with compound interest at 6 per cent 

 for the five years. In other words assuming that the farmer had to bor- 

 row the money to buy the stock and do the planting, this balance is the 

 amount that he would have left at the end of five years if he then paid 

 back the borrowed money with compound interest at G per cent, and this 

 would be equivalent to his holding a mortgage which paid G per cent in- 

 terest and which gave him a yearly income of |111.73. 



If a G-year rotation is used, the trees will be larger. Assuming an 

 average price of 20 cents per tree, the results would be : 



5,305 trees at 20 cents |1,061 .00 



Stock and planting, |124 at G% for G years 175.90 



Balance 1885.10 



which, in tbe same way as in the previous statement, would be equival- 

 ent to an annual income of |126.90. 



It may not be advisable to put all the trees on the market at once. 

 This must be governed by local conditions. The growth of the trees 

 will also depend on the soil. Nothing has been said about harvesting 

 the trees and no item has been included for this. The hai'vesting comes 

 in the winter when work is slack. The trees can be readily cut with a 

 saw. The above figures may be checked by obtaining quotations on 

 Christmas trees, wholesale, from a grocery company or anyone handling 

 Christmas trees in the locality. This should be done before establishing 

 a plantation, and the probable demand for the trees should govern the 

 size of the area planted. 



