40 



PLANTING OF WHITE PINE IN NEW ENGLAND. 



growth of the pine, with the compound interest on it for the remainder 

 of the period, may compensate for the increased tax as the land becomes 

 gradually of greater value. It is supposed that the total crop will 

 be cut at the end of forty years from the formation of the seedbed; 

 the owner is to raise his own seedlings, of which 72,600 are required 

 to set 60 acres at the rate of 1,210 trees to the acre (6 by 6 feet). 



INITIAL OUTLAY PER ACRE. 



Value of land 34. 00 



Expense incurred for seed, labor, and construction of bed and shade, including 



cost of transplanting to nursery 2. 42 



Cost of planting 2. 42 



Taxes, at 2 per cent, for forty years 3. 20 



Total outlay 12. 04 



RETURNS. 



Forty cords sold at $4 on the stump brings $160. Deducting $12.04, 

 we have a net value of $147.96. Allowing 4 per cent compound inter- 

 est, and taking total of taxes for each five years, then reckoning on the 

 average time, the result per acre is as follows: 



Deducting $50.99 from $160, there is a net profit of $109.01, or a net 

 annual return of $1.15 per acre, paid at the expiration of forty years, 

 in addition to 4 per cent compound interest on the money invested. 



O 



