NATIONAL AFFORESTATION 



gave the following results. There were : 1 ,328 

 larch-trees, 262 Scotch pine, 74 oaks, 116 

 beech, 35 birch, 12 spruce, and 120 ash. 



So you will see it was somewhat of the 

 nature of a mixed wood. The net receipts, 

 after deducting all expenses of harvesting, 

 selling, etc., were 2,835 3s. 10d., which is 

 equal to 157 10s. per acre. Taking the mean 

 between seventy-five and eighty years as the 

 age of the wood, and allowing compound 

 interest, I find that this wood has yielded to 

 the proprietor 3-56 per cent. that is to say, 

 just a little over 3i per cent. If the value of 

 the thinnings were known and had been in- 

 cluded, the rate of interest would certainly 

 have been not less than 4 per cent. 



The next example is a wood belonging to 

 Sir Herbert Lewis. It is a larch wood of 208 

 acres, and was cut down some years ago. The 

 locality is a very steep hill-side; the soil light 

 sandy loam, but not deep. The rental value 

 of the locality was originally given me at 5s. 

 an acre per annum. Taking thirty years' 

 purchase, the value of the soil comes to 



100 



