183 



fence for the farm of 1,500 acres for all time, and that the pasture, together with stakes 

 and poles for fencing, furnished from time to time, will pay as good interest as the open 

 land would." 



Mr. A. Furniss, of Indiana, speaks of the catalpa and locust : — 



" Much of the cost of timber grown by cultivation depends on the price of land on 

 which it is produced. Assuming the average price of land away from the neighbourhood 

 of cities and villages to be fifty dollars per acre, which would be a high estimate for us 

 in Indiana, and the cost of catalpa plants set four feet apart each way, making 2,722 per 

 acre, at a cost of five dollars per thousand^(I grow my plants and they did not actually 

 cost half that figure) — we have thirteen dollars and sixty-one cents for plants. But the 

 ground must be prepared for the plants, and the transplanting is rather tedious work, 

 hence we will allow |11.39 for preparation of land and transplanting, making investment 

 in plants and labour, twenty-five dollars per acre. Total investment, seventy-five dollars 

 per acre. In Indiana lawful interest is six per cent. Now, let us compound this amount 

 for ten years, and we have principal and interest in round numbers, $134.30. To this 

 we will add five dollars annually for four years for cultivation. With us the renter 

 never pays taxes, but we will add that which would be about five dollars. To this add 

 five dollars annually for keeping up fences, and contingencies, and we are debtor : 



To cost of land and plants compounded for ten years $134 30 



" cultivation four years 20 00 



" fence, and contingencies, tax, etc 50 00 



Total $204 30 



"At the expiration of ten years we propose to remove one-fourth of the trees, which, 

 if all are standing, will be 680, for which we may claim credit. Many of these by this 

 time will make from one to two good fence posts, and at the lowest wholesale price in car 

 loads would be worth twenty cents each. At an average of twenty cents per tree, we 

 have $136, to say nothing of the tops for fence stakes and fuel, all of which will be con- 

 sumed on the farm. This reduces our debt to $68.30. This we will compound for two 

 years more and we are debtor to $76.73. At this time, twelve years from setting, we 

 propose to remove one-half of the whole original number, which gives us 1,360 trees. 

 These at the very lowest estimate are worth twenty-five cents per tree, or $340 for the 

 lot; from this amount deduct our indebtedness, and we have a credit of $2o3.27. We 

 will now compound this for four years more, and our credit is $332.35. Now we propose 

 to close the account and sell the one-fourth yet remaining — ^680 trees. These are worth 

 a dollar a tree; from this, however, I must deduct the interest on the land for the last 

 four years, which is $13.12. That leaves a net profit of $1,049.23. But, suppose, I am 

 told that my last lot of trees are not worth a dollar apiece. To this I reply that I know 

 of quite a number of catalpa speciosa about that age, and- for all such trees well grown 

 and within twenty miles of my farm I will give a dollar each and go after them. The 

 catalpa in University Square, Indianapolis, have been set about sixteen years, and aver- 

 age one foot from the ground about one inch in diameter for every year of growth, and 

 notwithstanding they have not been crowded so as to give them the most desirable shape, 

 yet, if the city authorities wish to dispose of them, I will take them at the above figure 

 and be glad of the chance. Of course twenty-five dollars would not move one of them, 

 but as this is not their commercial value, it cannot be used as a basis of calculation. 



"Forty years of experience as a tree-planter has taught me that trees do not always 

 grow where they are set precisely as desired or indicated ; but, as the catalpa transplants 

 with a remarkable degree of certainty — even growing without roots — I believe on good 

 ground it is within the scope of practical demonstration to realize three-fourths of the 

 result above indicated ; but should one half be attained, we have $524.61 as the return 

 from one acre of land for sixteen years, and all this with very little labour or expense 

 after the setting and three or four years' cultivation at the beginning, after which they 

 require no further care." 



