REPORT OF THE SELECT COMMITTEE ON FORESTRY. 137 



Then, first, thinning at twelve years of age 4000 trees at Id. per 

 tree, £16, 13s. 4d. ; deduct cost of thinning, £8, 6s. 8d. ; deduct 

 balance in favour of thinning, from £126, 18s. 7d., and then that 

 leaves £118, lis. lid." — "Can you tell us how much an acre you 

 made it at the end of eighty years ? " "At the end of twelve years, 

 £16, 13s. 4d., for the 20 acres at Id. per tree. Then I take the 

 £118, lis. lid. ; at seventeen years of age, compound interest for 

 five years, £130, 2s. 10|d.; at seventeen years of age, second 

 course of thinning 300 trees per acre, 6000 trees at 2d. per tree, £50; 

 cost of thinning, £25 ; deduct balance in favour of thinning, £25. 

 Then it reduces it to the amount of £105, 2s. 10|d. Then taking 

 £105, 2s. IQld. at twenty-two years of age, compound interest at 

 five years, £124, 14s. Hd. ; third course of thinning 8000 trees at 

 4d. per tree, being at the rate of 400 trees per acre, £133, 6s. 8d. ; 

 cost of thinning and repairing fence, £50, 16s. 8d. ; deduct balance 

 in favour of thinning, £82, 1 Os. ; then that reduces the amount to 

 £42, 4s. Id. for you to charge compound interest on. At thirty 

 years of age the interest is wholly paid off, because the planting 

 and everything is paid off in thirty years. It is like thirty 

 years' purchase. Then at thirty years of age balance in favour of 

 plantation, £57, 3s. 10|d. ; at thirty-seven years of age, 200 

 trees per acre, that is 4000 trees at 2s. per tree, £400 ; deduct 

 cost of thinning, £33, 6s. 8d. ; balance in favour at that age, 

 £366, 13s. 4d. At forty-five years of age, 100 trees per acre, 

 2000 trees at 2s. 6d. per tree is £250 ; cost of thinning, 

 £31, 5s." — "You need not read all the figures; can you give us 

 the total result ? " " The result is, ' Matured crop at eighty years, 

 130 trees per acre, in all 2600 at 20s. per tree, £2600, and the 

 total amount in favour of plantation is £3217, 12s. 2|d.' That 

 leaves exactly £2 per acre of rent throughout for the land." — 

 " Throughout the period of how many years ? " " Eighty years." — 

 "Will you hand in that document ? " "Yes." — "Have you 

 allowed anything for rates and taxes in that estimate ? " " The 

 rent is calculated from the commencement." — " But there are rates 

 to be paid every year upon it ? " " The rates are not included. 

 The rates on plantations in Scotland are very small." — "You make 

 no allowance for that, do you ? " " There are no rates mentioned." 

 " You said you did not think that there would be enough 

 demand for a School of Forestry in Scotland to make it pay?" " I 

 scarcely think it." — " Do you think there would be enough demand 

 to make it desirable for Government to pay for it ? " " If there 



