RABBIT FENCES 63 



But the outlay per acre of i t gs. 46. on fencing a 40 acre 

 plantation will only amount at 3^ per cent, interest to 23 

 (nearly), or at 4 per cent, interest to ;33J, and thus, accord- 

 ing to the rate of interest taken, the crop per acre at the end 

 of the rotation is debtor for fencing to a much smaller 

 amount, although even this is a considerable sum. 



And the difference of the accumulated debt per acre of 

 the 10 acre and 40 acre plantation is 23 if 3^ per cent, 

 interest be reckoned, and 33, 155. if 4 per cent, interest be 

 reckoned. 



And if the rotation had been 100 years, the difference 

 would have been 45, 153. (nearly) at 3^ per cent, interest, 

 or 74 at 4 per cent, interest. 



Thus it will be seen how very important it is to keep 

 down all expenses at the beginning of a rotation, whether 

 such expenses be incurred in fencing, draining, planting, or 

 otherwise. 



However, when making general calculations as to the 

 returns from timber growing, some outlay for fencing must 

 be provided. 



It would obviously be ridiculous to charge as for fencing 

 I acre ; and it would be equally absurd, at any rate in the 

 case of private estates, to estimate as for 1000 acres. For 

 even if such an area were going to be planted, it will often 

 be dissected by roads and bridle-paths and rights of way, 

 across which the continuous fence could not be extended. 



Perhaps the fairest method, on the average, is to reckon 

 as for 40 acres ; that is, about 303. per acre ; though on most 

 private estates that area is too large, and 2 per acre, or 

 2, ios., would be a more accurate estimate. 



A very important point to remember when planting up 

 large compact areas, in the course perhaps of the next 5 

 years, is the fact that, if there be no reason to the contrary, 

 it will be far more economical to fence the whole area at once, 

 than to make a separate fence each year for i of the area, or 

 even to fence a larger area than will be actually planted in 

 the next few years. For instance, if 10 acres, situated in 3 

 blocks on an area of 40 acres, are to be planted each year for 



