FIFTH NATIONAL CONSERVATION CONGRESS 49 



be set at $35.00 per acre, including preparation of site. Federal forest planting 

 in the National Forests has varied widely in cost according to the conditions 

 under which it has had to be done. Its purpose is more than commercial pro- 

 duction, since mlich of the work includes water conservation by forest planting. 

 In large operations on accessible sites presenting no unusual difficulties, the 

 cost per acre is about the same as in planting expenses in Eastern forest regions. 



Returns. 



A high rate of return cannot be expected from an investment in forest 

 planting. It is generally reckoned at 4% to 6% on the investment, with a 

 small net profit per acre. Further than this, in the great majority of cases the 

 return does not come within a short period of years. Eucalyptus within its 

 limited planting range will be merchantable in one to two decades and yield 

 higher returns than those given above. Fence post species yield their crop within 

 15 to 25 years at a considerable profit. The shortest period for timber produc- 

 tion is, in general, 35 to 40 years, and for large timber 60 to 100 years. Such 

 long deferred returns as the latter are not attractive in themselves to the in- 

 vestor, but there must be and there are in many instances other considerations 

 in commercial forest planting. By itself as a business venture, forest planting 

 does not hold the position which short time business investments do. It does 

 not generally appeal to the private landowner from this standpoint. Such an 

 investment does, however, assume an important position when it directly affects 

 capital already invested or properties that are to be held perpetually for timber 

 production. 



COMMERCIAL FEASIBILITY OF FOREST PLANTING AS DETERMINED BY 

 OWNERSHIP AND OTHER CONSIDERATIONS 



Private Individuals. 



PLANTING of quick growing species suitable for domestic purposes and 

 for sale is feasible wherever the return is not less than from other 

 possible uses of the land. This applies particularly to the resident owner 

 who will thus secure his own supply, fence posts for example, and can sell the 

 balance to advantage. In view of this he may even be willing to accept a lower 

 return from the soil than it might otherwise bring. In many instances, however, 

 inferior land will be used for this purpose. In wind-swept regions the protective 

 influence of a shelter belt brings higher money return in increased crops on land 

 adjoining the forest. 



The short period for growth encourages such planting and other useful 

 results add to its desirability. Commercial planting of this kind is much to be 

 desired in farming regions that are treeless, or in woodlot regions where wood 

 is scarce through continued cutting, and the prices of needful farm materials 

 have become high. 



Although reforestation for timber production is not often attractive to the 

 private owner, many small plantations are being set yearly, especially in the 



