292 Practical Forestry 



planting has been carried out. As far as actual profits are 

 concerned, it will be prudent to assume that for the first 

 twenty years no return whatever will be derived from hill- 

 side plantations, the sales of thinnings up to that time barely 

 covering the expense of cutting and interest on first cost. 

 From twenty-five to forty years an annual return of fully 

 12s. per acre has in many instances been forthcoming, while 

 the value of the standing crop at the latter age has been 

 found to vary from 50 to 70 per acre. I do not think 

 that these figures would be, generally speaking, too high, 

 as at Balfour, in Scotland, the larch at forty- three years' 

 growth on a hillside were valued at 20s. each, while a valua- 

 tion of 21s. per tree was made of larch on the slopes of the 

 Snowdon range of hills, in Wales, at the age of forty years. 

 But many similar instances could be recorded, and are 

 constantly coming before those who have to do with the 

 valuing and felling of timber. 



The late Mr. Lewis Miller, who had probably a larger 

 experience of home woods than any other person, has given 

 me some valuable and interesting information regarding 

 what he has paid per acre for larch in various parts of Scot- 

 land. In twenty years, between 1870 and 1890, Mr. Miller 

 has cut down growing timber to the value of over 250,000. 

 A great many of the plantations were fifty years old, and 

 yielded over 50 per acre when finally cut down, apart from 

 the value of the thinnings taken out of them previously to 

 the time they were cut down. To one proprietor in Aber- 

 deenshire he paid 60,000 for plantations about fifty years 

 of age, and the price worked out on an average at fully 50 

 per acre. One particular plantation of larch in Aberdeen- 

 shire, about seventy years old, yielded 150 per acre ; 

 another plantation, all larch, about forty-four years of age 

 gave over 100 per acre, and these plantations were for the 

 most part growing on what was formerly pasture or waste 

 land, and cost for planting and fencing from 2 to 2 10s. 

 per acre. It will be needless to multiply cases in which poor 

 lands worth only from Is. to 3s. per acre have been made to 

 realize by judicious tree planting as much as 20s. per acre 

 for fifty or sixty years with a final crop worth from 50 to 



