62 



PLANTING 



For 100 acres : 



Number of criains = >/ 1000x4 



Cost of fencing = \/iooo x 4 x 145. 8d. 



= / 92, 9s. 9d. 



For 1000 acres : 



Number of chains = \/io,ooox4 



Cost of fencing = \/ 10,000 x 4 x 145. 8d. 



6s. 8d. 



The following table shows the cost per acre according 

 to the size of the plantation : 



Now, when making calculations as to the financial returns 

 to be obtained from timber growing, it will make an 

 enormous difference to the results if the average outlay on 

 fencing be taken at a large sum or a small sum per acre. 



For instance, the difference in the cost of fencing per 

 acre of a 10 acre plantation and a 40 acre plantation, is about 

 i t i os. per acre. 



Now, on an 80 years rotation, the outlay per acre of 

 2, 1 8s. 8d. on fencing a 10 acre plantation will have accumu- 

 lated in 80 years at 3 J per cent, interest to 46 (nearly), or at 

 4 per cent, interest to 67^, and the crop per acre is a debtor 

 to this amount at the end of the rotation for fencing only. 1 



1 This presupposes that the materials of the fence when removed in 

 10 or 15 years' time are worthless ; any value they may then have will, 

 however, greatly reduce the debt. 



