so ECONOMICS OF FORESTRY. 



According to a conservative calculation based 

 upon these experiences, the forest resource of Ger- 

 many represents, in round numbers, a capital value 

 of ;gi8o per acre ($2$ for the soil and ;?I55 for the 

 stock of wood), paying a constant revenue of 3 per 

 cent on such capitalization; or since there are some- 

 what over 35,000,000 acres of forest, their capital 

 value is equal to ;^6, 340,000,000, producing a con- 

 tinuous annual income of ;? 190,000,000. The state 

 properties are, moreover, constantly improving, and 

 the revenue constantly increasing. 



While, to the casual reader, this showing may 

 hardly appear as a very profitable business, we 

 must not forget that the result is obtained for the 

 most part from soils which would otherwise be 

 unproductive, for the forest areas in these coun- 

 tries are in the main confined to the non-agricul- 

 tural lands,' and to such as may not with impunity 

 be deprived of their forest cover. 



Furthermore, from the standpoint of national 

 economy the productive employment of labor 

 directly or indirectly concerned is of moment, 

 representing in laborers' wages annually round 

 ;? 1 50,000,000, namely, ;^35,ooo,ooo for exploitation, 

 planting, road building, and hauling of forest prod- 

 ucts, not including rail and water transportation, and 

 ^115,000,000 for labor in industries concerned in 

 shaping the wood, so that not less than 1,000,000 

 laborers' families may be estimated to find support 

 from the forest. 



