146 THE MANAGEMENT OF WOODLANDS. 



This apparent profit represents a gain of 11s. 2d. per acre per annum 

 at 3 per cent, and 8s. 7|d. per acre per annum on a 4 per cent basis, in 

 addition to the annual rent of 5s. per acre or a total net annual rent of 

 16s. 2d. and 13s. 7|d. respectively. But it presumes that no outlay is 

 needed in beating up blanks, that the income from all the thinnings and 

 the final clearance are net returns, that the replanting of the land can take 

 place immediately after the mature crop is cleared, that no weeding is 

 needed before the first thinning, and that the annual shooting value 

 covers the rates and taxes, &c. ; and it does not include the cost of 

 supervision, tending, repair and upkeep of fences, or contingent expenses 

 of any sort. It is, therefore, *K>t a trustworthy calculation, though as 

 fair as can be made with the data available. 



