148 ON THE DIFFERENT MODES OF 



satisfactory to have the clams, weirs, sluices, lades, &c, put in good 

 repair, and given over to the purchaser on the condition that they he 

 left in the same state, — damage done hy heavy floods being excepted. 



On estates producing an annual timber revenue, it is important to 

 consider how much can be profitably disposed of at one time ; in 

 the case of large lots, care must be taken that the market is not 

 glutted or competition suppressed. Wood merchants are not pro- 

 verbial for playing into each other's hands, but the reverse. Still 

 cases of the land have happened, and the exposer should guard 

 against such occurrences. This can be done by arranging the lots in 

 such quantities and disposing of it in such ways as to meet the wants 

 of the district. For small quantities, ranging from L.10 to"L.50, the 

 mode adopted must be either tender or private bargain, as it rarely 

 pays to call a roup even for L.50. Lots of timber worth from L.500 

 to L.5000, principally of one class, may be sold profitably in one lot, 

 especially where it is necessary to manufacture the timber on the 

 ground. It may be said that selling in such large quantities tends 

 to suppress competition, and play into the hands of extensive timber 

 dealers and capitalists ; but by making the terms of payment easy, 

 and holding a proj^er security over the wood, the small capitalist is 

 not only encouraged, but accommodated. Instances could be given 

 where lots sold above L.5000 have been bought and wrought most 

 satisfactorily by individuals of small capital 



Entailed Estates. — Difficulties sometimes arise in disposing of 

 wood in large lots on entailed estates, especially if the heirs of entail 

 signify disapproval of the proceeding. Under these circumstances, 

 it is not judicious to dispose of large quantities at one time, unless 

 with the full consent of all interested parties. Lots worth from 

 L.500 to L.1000 are sufficient to bring out the best wood merchants 

 in tbe district and induce competition. For the removal of lots of 

 this size the time is necessarily more limited ; the purchaser's risk 

 in the event of a change of proprietors is not so great, and therefore 

 it is not so requisite that they should take instruments for their own 

 security. 



As regards competition for large lots, it is well known that exten- 

 sive dealers only attend sales where the quantities are such as to be 

 remunerative, and in general it is only such dealers who have the 

 appliances and machinery for manufacturing wood to advantage. 

 Every encouragement ought therefore to be given to the capitalist, 

 as a part of whatever profits he may derive from the simplifying or 

 reducing of labour is sure to revert to the producer in the increased 



