540 SCIENCE OF AGRICULTURE. Part II. 



rity are valued according to their quantity and quality, deducting the expenses of reap- 

 ing, threshing, &c. In coal countries an allowance is made for thorn-hedges which 

 lave been newly cut ; but the reverse is the case where fuel is scarce, an allowance 

 being made according to the quantity of brush or lop on the hedge. The lop of pollards, 

 and prunings of hedgerow trees to a certain height, are generally valued to the tenant ; 

 out a better mode is for the landlord to take the timber trees entirely under his own 

 management. 



3327. In valuing live stock, a variety of circumstances require to be taken into con- 

 sideration. The value of all young animals may be considered as prospective ; the chief 

 value of others depends on their breeds ; of some, on accident or fashion ; and of fed 

 animals on their actual value to the butcher. Draught cattle may be valued on an ab- 

 stract principle, derived from the probable value of their lives and labour ; but in general 

 nothing is to be depended on but a knowledge of the market price, and this ought to be 

 familiar to every valuator. 



3328. In valuing buildings, regard must be had to their absolute use as such, and to 

 their effect on the value of surrounding property. In the case of buildings merely 

 useful as farmeries, it will sometimes happen that more buildings are erected than the 

 most approved mode of husbandry requires, as in the case of large barns and granaries, 

 ornamental pigeon-houses, &c. : these can be valued on no other principle than that of 

 the value of the materials, supposing them taken down ; and, in regard to an in-coming 

 tenant, they are to be considered as a drawback, rather than as of any value. 



3329. In valuing orchards, hop-grounds, osier plantations, and similar crops, it is usual, 

 for the first two or three years after planting, to allow only the cost, rent, all outgoings, 

 and ten per cent, on their amount ; but afterwards, the trees and plants having taken 

 with the soil, and promising abundant crops, they are valued prospectively in the mode 

 in which we shall next describe as applied to young plantations of timber-trees. 



3330. In valuing young pla7itations, when they are only of two or three years' growth, 

 it is usual to proceed as in valuing orchards ; but afterwards, when their growth is be- 

 coming rapid, and the fences in a sufficient state, the plantation is valued prospectively 

 in the following manner : The contents being known, and the number of healthy young 

 trees per acre ascertained, then their value at any distant period, not exceeding twenty 

 or twenty-five years, is estimated ; and whatever sum that estimate amounts to, the pre- 

 sent value of that sum will give an idea of the value of the plantation, allowing liberally 

 for accidents to the trees, and other unforeseen circumstances. Thus, suppose a plant- 

 ation of oaks, intended as copse, or actually established as such, to have grown four 

 years, its present value would be next to nothing ; but if arrived at its twentieth year, 

 it would fetch fifty pounds per acre. Then the question is, required the present value 

 of fifty pounds due sixteen years hence, the market price of money being five per cent. ? 

 and this, according to any of the modern annuity tables (say Bayley's 4to. 1808. tab. iv.), 

 is 22Z. 1 85. This principle is applicable to all kind of valuing by anticipation ; and there 

 is no other mode of valuing applicable to young plantations. 



3331. In valuing saleable trees, their number per acre, or their total number, being 

 ascertained, an average value must be made of each tree, according to its worth as fuel, 

 timber, fence- wood, bark for the tan-pit, and other particulars, due allowance being made 

 at the same time for the expenses of felling, cutting up, sorting, carriage, &c. The 

 usual practice in this case, as well as in the valuation of copse-woods, will be given in 

 treating of wood-lands in the succeeding Part of this work. 



3332. In valuing fields for rent, regard must be had to their soil and subsoil, as of the 

 greatest importance ; next, to their aspect, form, length, and style of ridges ; and, lastly, 

 as to the sort of crops or rotation which may be followed on them, and their state of cul- 

 ture. Supposing the valuator to decide in his own mind as to the rotation, his next 

 business is to calculate the expense and produce of the whole course ; and after deduct- 

 ing all expenses whatever, and ten per cent, per annum on the capital employed, the 

 balance may be considered as the rack-rent which such a field may afford. 



3333. In valuing a farm for rent, each field must be valued separately in the manner 

 above stated, and a particular rent per acre determined for each field, from which an ave- 

 rage rent can be made out for the whole fai-m. In some cases it is customary to value 

 the farm buildings, dwellings, yards, gardens, &c. ; but when that is done, a sum in pro- 

 portion to their value is deducted from the supposed profits as household and other ex- 

 penses, so that no advantage is gained by it. It is by means of those buildings, threshing 

 machine, and other conveniences, that so much can be paid for each field ; and therefore 

 to pay for the buildings, and pay also for their advantages, would be unjust. It must be 

 further obvious, that a great variety of other considerations must be taken into account 

 before even the value of a single field can be ascertained, such as distance from markets, 

 roads, parochial and country towns, price of labour, &c. But after all, it is seldom that 

 land is taken or let on such valuations ; rent, like price of every kind, depending more 

 on the quantity of land in the market, and the number of tenants in want of farms, than 



