120 PRACTICAL FORESTRY. 



per acre, exclusive of fencing and drainage. This 

 sum, too, may be still further reduced by growing the 

 trees in a home nursery. We shall now consider the 

 items of yearly expenditure, together with the interest 

 and compound interest which must accumulate owing 

 to the periods which must elapse between each thin- 

 ning. Nevertheless this calculation is somewhat 

 imaginary, and is often in practice lost sight of. We 

 do not for one moment hesitate to accept it as a patent 

 fact, but only express our opinion as to its being more 

 chimerical than real. 



If then we take 6 the extreme cost as the 

 initial outlay, and, for the sake of calculation, consider 

 the plantation so far as the conifers are concerned as 

 likely to stand, with intermediate thinnings, for 40 

 years ; then we shall find that it will accumulate, at 3 

 per cent, to, say, 20. If, too, we take 73. as the 

 annual expenditure per acre for rent, rates, tithes, and 

 so on, it will accumulate, at the same rate of interest 

 to 26 73. pd., or in all to 46 73. Qd. The thinnings, 

 it will be seen by the table of produce, will in the 

 same period reach the sum of 120 93. 3d. The 

 facts as shown, if accepted as facts, must be somewhat 

 startling. 



COST OF PRODUCTION PER ACRE. 



Interest on ^6, at 3 per cent., will accumu- 

 late in 40 years to ......... 20 o o 



Rent, rates, tithes, taxes, &c., at ys. will 

 accumulate in 40 years, at 3 per cent., to 26 7 9 



7 9 



