REVENUE FROM NORMAL AREAS 261 



than is usually supposed ; and, the conversion of existing 

 areas of coppice with standards into ordinary close-canopied 

 high forest should seldom be undertaken, unless, indeed, the 

 land be really too poor for any growth but coniferous high 

 forest; or, unless the cultivation of Douglas Fir, or some 

 other tree yielding a better land rental than Larch or Ash, 

 be desired. 



However, the system of high forest with coppice can 

 always be recommended in preference to that of coppice with 

 standards. 



COMPARISON OP ACTUAL LAND RENTALS WITH 

 THE NET RETURNS FROM NORMALLY STOCKED 

 AREAS. 



It will be instructive to compare the actual land rentals, 

 as already given for various crops, with the (approximate) 

 net annual returns which would be received from the same 

 crops from normally stocked areas, in which, of course, the 

 average invested capital per acre is usually very great (vide 

 page 237). It is assumed that the areas are large. 



It is hoped that such a comparison of the results of the 

 same crops, expressed by two different methods, will help 

 to remove much of the ambiguity which at present so often 

 envelopes the statements of the financial results of afforesta- 

 tion as usually placed before the public. 



In all cases the returns include the value of any sporting 

 rights, estimated at is. 3d. per acre in the case of high 

 forest and 2s. 3d. per acre in the case of coppice with 

 standards. 



These returns must be looked upon as the maximum 

 that can be obtained at the given prices from the given 

 quality of soil under the respective systems and rotations. 

 The crops have been placed in the table in their order of 

 merit. Outgoings are reckoned at a minimum. 



It will be noticed that these net returns from normally 

 stocked areas afford no criterion of the pecuniary advantage 

 of planting one crop in preference to another. 



