184 FORESTRY IN THE LANDES 



Totals 

 74,131.3 acres of dunes reforested by the State at a cost of 



$10.75+ per acre $926,400 



1,536,989.3 acres of private and communal interior holdings 



forested at $4.25- per acre 6,602,530 



1,611,121 acres of soil at a cost of $0.77+ per acre 1,258,360 



$8,787,290 

 Road betterments 1,544,000 



$10,331,290 



This is equal to an average investment of only $6.41 per acre. A con- 

 servative estimate of yield, before the war, was $2.22 per acre per year. 

 Thus if taxation is eliminated the original investment yields over 30 

 per cent as a national "speculation," but it must be noted that the real 

 soil value was almost nothing at the time the investment was made. 

 It is at least significant that prior to 1914 timber appraisals of young 

 stands used an interest rate of 7 per cent for the calculations, which is 

 unique in forest technique and is due to the high returns and to the risk 

 from fire. 



Huffel estimates the average forest revenue in the Landes at $2,702,000 

 net per year, representing a new capitalization including timber of at 

 least $86,850,000, or about $54 per acre. As a matter of fact State 

 forests with growing stock have been sold for around $60 per acre and 

 to-day average more than $93 per acre for land purchased at less than a 

 dollar! The bare soil sold for $16 to $32 an acre prior to 1914 in 

 other words, it was capitalized on the basis of what it could produce in 

 resin and timber. 20 



The artificial barrier dunes cost about $96 per mile. The forestation 

 cost has been as high as $38.60 per acre in the Landes and in the Coubre 

 dunes only $14.20. In 1817 a large area was sown at a cost of $15.05 

 per acre. In 1827 Dejean reported 21 the cost per acre had been reduced 



20 J. H. Ricard says that unpeeled mine props sold for 15 francs per English ton in 

 1903, and up to 18 francs in 1908; ties of various specifications 2 to 3.40 francs; squared 

 timber 22 to 25 francs per ton. Regarding land values Ricard says that the bare land 

 sold in 1835 at 8 to 15 francs per hectare as a minimum, with 30 to 40 francs as an 

 average. In 1910 the values were 40 francs minimum, 100 francs ($7.72 per acre) 

 average, and up to 300 francs maximum ($23.16). 



21 The details were as follows: 



Francs per hectare 



Cutting 1,400 fagots at 0.80 francs per 100. 11 .20 



Working them up at 0.80 francs per 100 11 .20 



Transport 1,500 to 2,000 meters at 4 francs per 100 56.00 



Drying at 1 franc per 100 14.00 



Miscellaneous fagot expense at 0.75 francs per 100 10.50 



One-half hectoliter maritime pine seed 10.00 



5 kilograms genista seed 2 . 50 



Miscellaneous expense and repairs 4.60 



Total 120.00 (or $9.26 per acre). 



