PREFACE xiii 



owners only when it can be shown to rest in all 

 reasonable probability on a sound financial basis, it is 

 only necessary to point out that the percentage of 

 interest on capital outlay represented by soil plus 

 growing stock should be calculated somewhat lower 

 than that obtainable from agriculture in Germany it 

 is about 3 to 4 per cent, for the latter, and 2\ to 3 per 

 cent, for the former in the State forests, but greater 

 in private forests, and for oak and osier coppice as the 

 rate of interest is of enormous influence in all actuarial 

 calculations concerning forestry. Owing to dangers 

 and the long periods that elapse before the crops are 

 mature it should be higher were the soil equally good. 

 Irrespective of the commons and heaths mostly 

 only covered with heather, there are throughout 

 Britain thousands of acres of land, perfectly able to 

 yield remunerative returns if planted up, which arc 

 now practically lying waste, stale, unprofitable, and 

 unproductive. There are thousands of acres of 

 culturable, but uncultivated, land enclosed within the 

 fencing of railway lines which might very easily, 

 without prejudice to the railway traffic, without any 

 danger to the public or the railway employees, but 

 with considerable profit to the railway companies, be 

 made to yield crops of apples or pears, filberts, &c., 

 or be put under coppice for the production of oak- 

 bark, osiers, hazel, black alder, fuel, &c., thus provid- 

 ing employment for thousands of people, and home- 

 grown produce for many industries which have at 

 present to supply their requirements to a great extent 

 from the Continent. The objections to the pasturage 

 of cattle or the growth of lofty trees on such land 

 arc of course at once self-evident, but the annual 



