THE FINANCIAL ASPECT OF AFFORESTATION. 105 



(4) The average cost of plantations before the war, £5 10s. per 



acre. 



(5) The cost of administration and protection, 4s. per acre and 



year. 



(6) The cost of construction and maintenance of forest roads 



and other improvements, 2s. per acre and year. 



(7) Taxes were assmned to be covered by shooting rents, and 



both items were omitted from the accomit. 

 With these data the value of Sc for the different species and 



Fig. 1. 



♦S 10 15 20 25 30 



Price which may be paid for the Lund, in Pounds per Acre. 



different per cents, was calculated on what may be called the 

 maximum or 100 per cent, efficiency scale. It was, however, 

 pointed out that such high efficiency cannot be expected in 

 actual work, and the Sub-Committee decided to be satisfied 

 with a 70 per cent, efficiency. Accordingly, the data of 

 yields were reduced by 30 per cent, and a fresh set of calcu- 

 lations of Sc with different per cents, made. With the results 

 the appended curves were constructed. (See example for larch 

 below.) From these curves the values of jp for successive values 

 of the cost of the soil were read off and placed in the following 

 table : — 



