FINANCIAL CONSIDERATIONS 17 



transportation l which will not exceed that which is 

 often incurred in the case of British grown timber. 

 Furthermore, with reference to the cost of the 

 importation of Canadian timber, there is every 

 probability that, on the completion of the Panama 

 Canal, the rates from the Pacific coast to Great 

 Britain will be less than they are now. So also, 

 much timber may, in the future, find its way to this 

 country via Hudson's Bay, at a very low rate. 



(5) Even if a timber famine were certain, it would often 



be preferable, from a financial point of view, to re- 

 afforest easily accessible areas in foreign countries 

 than to afforest waste land at home. For, apart 

 from the question of transportation already referred 

 to, it will often be possible, especially in countries 

 with a cold winter climate and a short growing 

 season, or wherever the surface of old forest land is 

 clean, to raise crops from seed at a minimum 

 expense ; whereas, owing to the warm, moist winter 

 climate in this country and the long growing season 

 for most vegetation, it is usually very expensive, 

 and often almost impossible, especially on maiden 

 land, to raise crops from seed. And then again, 

 in foreign countries there is often no necessity to 

 fence a young crop from rabbits, whereas in this 

 country it is practically always necessary. Now, a 

 sum of 3os. per acre spent on fencing, will, at 4 per 

 cent, interest, represent a debt on the crop of over 

 50 at the end of a 9O-years rotation ; this is equal 

 to a tax of about 3d. per cubic foot on the final yield 

 obtained from a crop of Scots Pine. 



(6) The growing popularity of the use of creosote as a 



preservative for timber, will tend to lessen the 

 quantity of timber used for fencing, weather board- 

 ing, etc., etc.; and it will also tend to raise the 

 prices of inferior timber, or to reduce the prices 



1 Timber can be shipped from Vancouver City to London at a cost 

 of about 8^d. a cubic foot. 



B 



