TttE LIBRARY. 95 



his work he treats:!. Of general principles comprising 

 the knowledge of the mathematical, economic, and forestal 

 principles affecting the determination of the value of 

 forests ; and thereafter of the special application of these 

 to the valuation of a forest. Under the first of these heads 

 he discusses in successive chapters 1. The subject of 

 value, distinguishing between price and intrinsic value. 

 2. The idea of interest, discussing differences existing in 

 the amount of interest in general; differences affecting 

 forestal interest in particular ; and the determination of 

 interest in relation to forest property. 3. The calculation 

 of interest according to a critical determination of the 

 kind of interest, simple, compound, or combined, which 

 should be selected in the capitalisation of revenue or rent; 

 a critical determination of simple interest of compound 

 interest ; and of a combination of these. 4. Formulae for 

 the calculation of interest, according to necessary modifica- 

 tions of compound interest, with tables of factors to be 

 made use of in such calculations. 5. Income and expen- 

 diture. 



Under the head of special application of the general 

 principles to the valuation of a particular forest, he dis- 

 cusses in successive chapters : 1. The determination of 

 the value of the ground by its abstract value, its cost, and 

 the price which would be obtained by sale, with a state- 

 ment of some general considerations affecting the 

 abstract value, and a critical determination or decision 

 relative to the employment of this in determining the 

 value of a forest. 2. The determination of the value 

 of the vegetable covering according as this may relate to 

 the whole plot, or to isolated trees, or to a specified 

 portion of the lot, discussing in regard to the first 

 mentioned case the determination of the abstract value 

 of this, and conditions which may effect this advantage- 

 ously or otherwise ; the determination of it by the cost, 

 and general conditions on which the amount of this 

 depends ; and the determination of it by the price which 

 would be realised by sale, Thereafter are discussed the 



