50 ECONOMICS OF FORESTRY. 



According to a conservative calculation based 

 upon these experiences, the forest resource of Ger- 

 many represents, in round numbers, a capital value 

 of $180 per acre ($25 for the soil and $155 for the 

 stock of wood), paying a constant revenue of 3 per 

 cent on such capitalization; or since there are some- 

 what over 35,000,000 acres of forest, their capital 

 value is equal to $6,340,000,000, producing a con- 

 tinuous annual income of $190,000,000. The state 

 properties are, moreover, constantly improving, and 

 the revenue constantly increasing. 



While, to the casual reader, this showing may 

 hardly appear as a very profitable business, we 

 must not forget that the result is obtained for the 

 most part from soils which would otherwise be 

 unproductive, for the forest areas in these coun- 

 tries are in the main confined to the non-agricul- 

 tural lands, and to such as may not with impunity 

 be deprived of their -forest cover. 



Furthermore, from the standpoint of national 

 economy the productive employment of labor 

 directly or indirectly concerned is of moment, 

 representing in laborers' wages annually round 

 $150,000,000, namely, $35,000,000 for exploitation, 

 planting, road building, and hauling of forest prod- 

 ucts, not including rail and water transportation, .and 

 $115,000,000 for labor in industries concerned in 

 shaping the wood, so that not less than 1,000,000 

 laborers' families may be estimated to find support 

 from the forest. 



