308 



Loss from let- 

 ting trees 

 stand too long, 



METHOD OF VALUING GROWING TIMBER. 



should be of the same length as that of Lord Bagot's, viz. 

 22 feet. 



I fix on fifty years of age, as being convenient for rny 

 calculation; and nearly the most profitable period at which 

 to cut down trees of 22 feet bole, which have grown at the 

 medium rate of one inch in circumference, and 12 inches in 

 height, annually. 



After its 52nd year, snch a bole ceases increasing after the 

 rate of 5 per cent per annum*: but the whole tree, includ- 

 ing the top part above the bole, may continue increasing- 

 after that rate until its 6]st yearf. 



I do not fix on 50 years of age as being the most profit- 

 able age at which to cut down trees; probably 60 or 70 

 years of age would in some instances be preferable. Sup- 

 posing an oak tree has increased, as above-mentioned, its 

 bole of 22 feet would, at 50 ye«rs of age, measure 39 inches 

 in circumference at the middle; and one fourth of this, 

 namely Qi inches, squared and multiplied into 22 feet, 

 its length, gives 14 feet 6 inches for its contents, which at 

 35. a foot, its present value, amounts to £2. 3^. 6d. Sup- 

 posing £2 3s. 6d, to be the value of each of the four trees 

 of fifty years of age, grown in succession upon the same 

 spot of ground, in the period of 200 years, we will calculate 

 to what the first three trees would amount, if their value 

 was placed out at compound interest, for the respective 

 terms of 150, of 100, and of 50 years. 



£. s. d. £ s, d. 



8 3 6 Accumulating during 150 years, at 



5 per cent per annum compound 



interest, will amount to •••••• .. 3280 



3 3 6 Accumulating as above for 100 



years would amount to 286 



2 3 6 Accumulating as above for 50 years 



would amount to 24 



Add to the value of the tree to be 



cut down at the end of 200 years,. 2 3 6 



Total amount in 200 years.. ..... . 3592 3 Q 



* See Table 10 of a bole of 24 feet, p. 19. 

 t See my first Table, p. 28. 



Aad 



