92 ENGLISH WOODLANDS 



brokerage. There are also difficulties in finding 

 suitable investments. 



Well-planted and well-managed woods save 

 their owner from the usual misfortunes that 

 attend the accumulation of small yearly sums 

 for long periods. They incur no broker's charges 

 or commission. The yearly increment of the 

 woods is stored in the trees themselves, so that 

 there is not the difficulty of continually finding 

 new investments for the income received. The 

 trees grow without labour by the owner, and 

 in addition to any financial gain he has the 

 satisfaction of having fine woods, the result of 

 his own careful management. 



Trees have the disadvantage that they are 

 liable to destruction by fire, storm, and disease, 

 but there can be no form of investment which 

 is free from all risk ; all that is claimed for 

 timber-planting is that as a method of accumu- 

 lation it compares favourably with any other form. 



A landowner who succeeded to an estate in 

 early life as soon as he reached his majority 

 planted with pure larch an area comparatively 

 large for the size of the property. The planta- 

 tion grew well, and when the trees were fifty- 

 five years old they were sold and the proceeds 

 realised some thousands of pounds. Mathe- 



