142 



FOREST commissioner's REPORT. 



in studying the growth of land. Let us take the Grafton 

 acre, suppose it cut evenly to a standard of twelve inches, 

 and find out the growth in value on the land. I bring over 

 the amount of scaled timber standing after the cut and the 

 amount after the growth of the next twenty years, and to 

 them apply the values per thousand that have recently been 

 stated. The same thing is next done for the Parkertown acre 

 sui)posed cut down to a standard of tifteen inches. The 

 increase in value from these various sources figures 4.5 and 

 5.2 per cent.* 



Acre on Grafton Cut to Standard of Twelve Inches Four Feet from 

 Ground. Value of Growth upon it in Twenty Years Succeeding. 



1,632 feet board measure grows to 3,653— per year, 101. Rate of growth at com- 

 pound Interest, 4.1%. 



$2.47 iu value grows to $6.71— per year, $.21. Rate of growth at compound 

 interest, 5.2%. 



* One matter has been omitted from consideration here. It seemed impossible 

 to bring it into the computations, and yet it ought to be clearly stated. Two 

 thousand feet of lumber standing on an acreof landisnot asarule worth two-fifths 

 as much as five thousand standing on the same area. The reason is that being 

 more scattered it costs more to get it. Thus two thousand of small trees taken 

 with a larger stand are worth more to cut then than they are afterwards, until at 

 least a considerable stand has been replaced. So the 3653 feet of the Grafton acre 

 twenty years after the cut might not be worth the same per thousand as the 1632 

 feet left in the cut would be to take it away ivith the rest of the original stand. Of 

 course an increase of values might reverse that. 



