COST OF UNDERPLANTING 169 



The following is a fair estimate when the plants are 

 produced in a home nursery : 



3000 2 year seedling Beech, at 45.* per 1000 . ^o 12 o 

 Planting with spike and trowel, or with " dibble," 



at 45. 6d. per 1000 . ". ! . .- . ". 013 6 



Add for fencing (say) 



* The price of the plants is very variable, as it depends so much upon seed 

 years. 



Now, if the overwood be not removed for another 40 years, 

 the undercrop will merely be a debtor, at that date, to the 

 original cost of planting, accumulated at compound interest. 

 For this undercrop must be considered as growing free of 

 all rent and annual charges, which must be debited to the 

 overwood alone. 



Now, 2, 153. 6d. will amount in 40 years at 4 per cent, 

 to 13, 6s. od. 



Hence when 40 years old, the undercrop will only be 

 debtor to the amount of 13, 6s. od., if 4 per cent, on the 

 outlay is required. 



It will usually be found that this has been more than 

 earned, and when the enhanced financial position of the 

 overwood, and the condition of the soil has been taken 

 into account, it will be evident that underplanting is not 

 always conducted at a financial loss, as has been stated by 

 some. 



Even if a loss of 2 or 3 l were incurred up to the 

 time that the overwood was removed or that both crops were 

 simultaneously felled, the underplanting of the crop will have 

 been justified, for the additional cost of planting and establish- 

 ing a crop on foul land with 4-year-old plants, will be at least 

 4 or $ an acre, or even more, than the cost of planting 



1 In some cases even a greater debit sum is justifiable, as it will be 

 made good in the latter part of the rotation of the undercrop. Vide 

 Chapter XII. 



