8 Transactions.—Miscellaneous, 
the least remunerative of all land cultivations (as private property), the 
apparent interest of the purchaser would be to realize the value of the timber, 
and to convert the forest land into agricultural or pastoral, thereby selfishly 
disregarding the beneficial effects which the existence of the forest afforded 
to the whole district. 
In the hands of Governments, forests represent a national interest of the 
highest importance, not only because of the financial resources which the 
annual fellings afford, as the direct revenue derivable from the property, but 
above all, on account of the salubrious and fertilizing effects which forests 
bestow on the surrounding country, thus favouring the progress of agriculture, 
and the general development of national wealth. 
It is only under such prosperous conditions, it may be remarked, that 
frechold lands can well afford to contribute towards the public expenditure, 
and thus will spring up, (i.e., by the conservation of forests,) other sources of 
state revenue. Again, the great mass of the ever-growing forest, notwith- 
standing the annual thinning out of it, is also acting as a capital devoted to 
insure the welfare of agriculture, maintaining thereby the security of the 
public revenues as well as that of private property. 
The material importance of these indirect advantages, as resulting from 
the proper management of forests, especially when situated in mountainous 
regions, may be demonstrated by the observation of events of recent occur- 
rence in France. In that country, as the result of injudicious alienations of 
State forests, and the further conversion of the forest land into pasturages, 
originated periodical inundations, and the ultimate ruin of agriculture in no 
less than four “Départements,” the rural population of which are now 
emigrating to America.* The loss of private property has thus been 
enormous, and the deficiency in the land tax revenue from the same cause, 
viz., the indiscriminate clearing of forests, may also be computed at millions 
of money.t 
To the collateral advantages just alluded to may be ascribed the difference 
in character and productive value of forests, as State or freehold property 
respectively. 
For climatic purposes, the total area of the Crown forest lands in New 
Zealand, taken at 5,000,000 acres, would not be more than sufficient as 
compared with the area of the whole colony; for the probability is, that the 
private forests at present adding to the climatic advantages of the publie 
woodlands, will gradually disappear, unless the owners could be persuaded 
to sacrifice their own pecuniary interest to the public welfare. In France 
* «Etudes sur l'Aménagement des Foréts," p. 489, par. L. Tassy, Conservateur des 
Foréts. Rothschild, publisher, Paris. 
The land tax revenue in France amounts to about £24,000,000, 
e 
