USEFUL PROJECTS. 



359 



in 182(5, may be valued at 81. aad 

 at that time seventy-five trees 

 should be taken down; these trees 

 will then be forty-eight years old, 

 and worth 15s. a tree, or 561. in 

 the whole; this added to 81. the 

 value of the then underwood, makes 

 64' 1. which, in thirty-two years, 

 will produce 221 1. Without esti- 

 mating the underwood in 184'2,and 

 ■in 1858 at any thing, or the value 

 of thepa3tu:-age forthirty-two years 

 at an/ thmg, let us suppose the 

 seventy-five .remaining trees to be 

 cut down in 1858, being then 

 eigity years old, and that they 

 would, one with another, be worth 

 41. a piece, or 3001. in the whole. 

 The sum of the profits, thus arising, 

 Js 74'5l. or more than double the 

 other amount. 



It is a general opinion in this, 

 and, I believe, in other countries, 

 that it is more profitable to fell oak- 

 wood at fifty or sixty years growth, 

 than to let it stand for navy-timber 

 to 80 or 100. According to the 

 price which is now paid for that 

 commodity, either by the navy- 

 board or the East-India company, I 

 believe the opinion to be founded 

 m tnith. The following observa- 

 tions contain the reasor^ for this 

 belief. 



If profit is considered, every tree 

 of every kind ought to be cut down 

 and sold, when the annual increase 

 in value of the tree by its growth, 

 is less than the annual interest of the 

 money it would fell for : tliis being 

 admitted, we have only to inquire 

 into the annual increase of the va- 

 lue of oaks of different ages. 



In the Philosophical Transactions 

 for 1759, there are some useful ta- 

 bles respecting the growth of trees, 

 by Mr. Marsham ; from these tables, 



the two following inferencea may 

 be drawn. 



1. That it is highly prbfitable to 

 let young thriving oaks, which are 

 not worth above 30s. a tree, con- 

 tinue standing. 



2. That it IS not profitable to let 

 oaks of 80 or 100 years growth 

 continue standing. 



Three oaks marked in the tables, 

 No. 8, 11, 12, in April, 17*3, be- 

 fore they began to shoot, contained 

 eleven and one-half feet of wood, 

 and were altogether worth, at 18d. 

 a foot, bark included, 17s. and 3d. 

 The same trees, sixteen years after* 

 wards, contained thirty-four and 

 one-half feet, and were worth 21. 

 lis. 91 Now, if 17s. and 3d. 

 had been improved at the rate of 

 7 per cent, at compound interest 

 for sixteen years, it would not have 

 amounted to 21. Us. 9d, and of 

 consequence the proprietor, by let- 

 ting sugh oak stand, improves his 

 property in as high a degree, as if 

 he put but his money to interestf 

 at near seven and a half per cent. 



Three oaks. No. 2, 3, 5, iu 

 174'3, contained 100§ feet of tim- 

 ber, and were worth 71. 10s. 9d. 

 The same trees, sixteen years after- 

 wards, contained 1324 feet, and 

 were worth 91. 18s. 6'd. Now, 

 71. iOs. 9d. the value of the trees 

 in 174'3, improved at the low rate 

 of interest at two per cent, would 

 in sixteen years amount to a sum 

 exceeding 91. iSs. 6d. The pro- 

 prietor then, by letting such trees 

 stand, does not improve his proper- 

 ty at the rate of 21. per cent. 



The oak. No. 1, in the third ta- 

 ble, was worth 11. 2«. 6d. in 1757, 

 h gained in one year one foot, or 

 Is. 6d. in value ; if it has been 

 worth 30s. and bad gained one 



A a 4- foot. 



