FINANCIAL RETURNS 



lands worth only from Is. 3d. per acre have 

 been made to realise by judicious tree-planting 

 as much as 20s. per acre for fifty or sixty 

 years, with a final crop worth from 50 to 75 

 per acre. 



Two other examples, given by Sir William 

 Schlich at the Afforestation Conference in 

 1907, will further substantiate what we have 

 said as to returns from British woodlands. 

 The first is from Mr. W. B. Havelock, regard- 

 ing a wood 18 acres in extent actually cut 

 down. Mr. Havelock estimates the value of 

 the land at 7 10s. an acre, because as soon 

 as the wood was cut gorse and other shrubs 

 made their appearance. Then he says the 

 cost of planting that wood, including fencing, 

 etc., came to 8 an acre. The value of thin- 

 nings is not known, but the old woodman 

 asserts that several hundred pounds' worth 

 have been taken out for sale and estate pur- 

 poses. The value of the shooting is not given ; 

 I put it equal to the cost of looking after the 

 wood. The age of that wood when cut was 

 between seventy-five and eighty years, and it 



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