320 Forestry Quarterly. 



After the planting is finished the annual interest charge remains 

 stable at $1,650. Now each year 200 acres may be thinned and 

 every five years the thinning repeated- A net result of $2 per acre 

 for the first thinning (at that time wood prices will be higher!) 

 $3 for the second, and $3.50 for every subsequent thinning, would 

 be a reasonable assumption. In other words, for the next five 

 years after loans and plantings have been completed the interest 

 charges are met to the extent of $400, in the second quinquennium 

 to the extent of $700, and in the third quinquennium a surplus 

 begins to appear. Now, arrangements for refunding the loan 

 may be made at once, or else merely interest may be continued to 

 be paid out of returns for thinnings, the town receiving small 

 incomes until the sixtieth year, when the first 200 acres may come 

 to harvest yielding not less than $120,000, likely much more at 

 that time, wiping out the loan and leaving a property worth 

 several million dollars producing annual revenue. 



And all the State has done is to loan its credit, not one cent 

 is given in charity, and the town has made no expenditure except 

 for the care of the property. 



That these calculations are not chimerical may be learned from 

 the experiences in France. 



Here the State reforested during last century 200,000 acres 

 of sand dunes at a cost of $2,000,000. Of this 75,000 acres 

 were sold reimbursing the total cost of the 200,000 acres and 

 $140,000 to boot, and leaving a property now valued at $10,000,- 

 000. 



In the Landes, the State, municipalities and private owners 

 planted nearly 1,750,000 acres at a cost of $10,000,000, the value 

 of the recovered properties based on their annual production 

 being now placed at $100,000,000. 



Some 200,000 acres of poor land, unhealthy, useless waste in 

 La Sologne was planted up by a private association at a cost of 

 $5 per acre. These lands, which 50 years agO' could not be sold at 

 $4 an acre, now bring over $3 annual revenue, being valued at 

 $18,000,000. 



Another 200,000 acre tract in Champagne on arid limestone 

 wastes, largely planted by private incentive, costing somewhat 

 less than $25 to plant, is valued at $10,000,000, furnishing a net 

 revenue of $2 per acre. 



