404 TRANSACTIONS OF ROYAL SCOTTISH ARBORICULTURAL SOCIETY. 



He will, of course, satisfy himself that the land, if not covered 

 with the young plantation, would let for the same rental as the 

 surrounding fields ; but if the soil, situation, or other circum- 

 stances are such that a like rent could not be got, then a pro- 

 portionate deduction must be made. If, then, to the estimated 

 cost of planting, drainage, fencing, taxes and management, be 

 added the yearly rents of the land from planting to date of 

 valuation, plus compound interest, a fair valuation should have 

 been arrived at of the value of the growing crop to date of 

 valuation. There now only remains to be added the capitalised 

 value of the estimated yearly rental of the land, at from twenty- 

 two to twenty-five years' purchase, as may be decided on, and the 

 transferable value of the plantation will have been ascertained. 



In the application of this method to woods of this class, the 

 valuer must keep in view that, in cases where the work has not 

 been judiciously planned and properly executed, or where the 

 plantation has subsequently been neglected, a suitable deduction 

 must be made from the capital value arrived at. Plantations of 

 the same age may also differ greatly in value, on account perhaps 

 of improper selection of species, mismanagement, or other reasons, 

 and in these cases also a proportionate deduction must be made, 

 to provide for the resulting reduction in rate of growth of the 

 plantation. As a rule, the experienced valuer is able to estimate 

 with accuracy the value of the plantation by its general appear- 

 ance and by its rate of growth. 



5. Coppice- Woods. 



With the exception of oak coppice, this class of wood crop is 

 not much cultivated in Scotland, although on many estates a 

 growth of coppice-wood, composed of trees indigenous to the soil, 

 has sprung up on uncultivated or waste ground. In England, 

 however, the case is different, as in many counties a large pro- 

 portion of the forest crops cultivated consists of coppice planta- 

 tions and coppice mixed with standards. The purposes for which 

 coppice is grown are many and varied, but they may be grouped 

 generally under one of the following heads, viz., coopers' ware 

 and bobbin wood, charcoal wood, bark for tanners, basket ware, 

 hop poles, fencing and general estate purposes, firewood. 



The transferable value of this class of crop is based on its pro- 

 spective value, and in estimating this the valuer should consider 

 — (1) the purposes for which the coppice- wood may be suitable, 



