I30 ECONOMICS OF FORESTRY. 



acres in twenty-year rotation would require as 

 wood capital lOO X 70 x lo = 70,000 cubic feet; 

 while, the same 100 acres managed as timber for- 

 est in one-hundred-and-twenty-year rotation would 

 require a wood capital of 100 X 70 X 60 = 420,000 

 cubic feet, or six times as much as the coppice in 

 volume, and, to be sure, many more times in value, 

 since in the timber forest higher-priced material is 

 involved. 



In actual practice in a large average (Bavarian 

 and French forest departments), the disproportion 

 is much greater, namely, the wood capital in the 

 timber forest is eight to twenty-five times as large 

 as in the coppice. 



To give a few absolute figures which we can 

 take from the elaborate yield tables of the Ger- 

 mans, a Scotch pine timber forest of 100 acres in 

 one-hundred-year rotation would require, accord- 

 ing to the character of the site, that 400,000 to 

 900,000 cubic feet of wood be maintained as wood 

 capital ; a spruce forest requires a wood capital of 

 560,000 to 1,540,000; and a beech forest under 

 similar conditions managed for continuity would 

 make it necessary to leave 500,000 to 700,000 cubic 

 feet in round numbers, the lower figures for the 

 poorer, the higher figures for the best soils. 



Translated into money values, these quantities 

 would vary from j? 100 to $600 per acre, and in the 

 coppice, to be sure, not over j^io per acre. 



We see, then, that in a properly regulated for- 



