354 Coombe Plantation, Keswick. [august, 



as part of a farm, and the rents have been calculated, in pro- 

 portion to area, on the total rent received from the farm. 

 Undoubtedly the value of the rents so arrived at for the 

 plantation is too high, since ^200 represents only ten years' 

 purchase on £20, but the result gives, at least, the maximum 

 return which could be expected from the land under sheep. 

 It must be pointed out also, that the plantation has a par- 

 ticular value from the grazing point of view, since it affords 

 the only shelter on these hills. 



The total cost of forming the plantation in 1848 was 

 ^565 10s. for 198 acres, or £2 iys. 2d. per acre. This amount 

 was made up of £gi ijs. 8d. for fencing (including the 

 material used), ^53 125. /\d. for roads and drains, and ^420 

 for the actual planting, i.e., gs. 4^., 55. $d., and £2 2s. $d. 

 per acre respectively for these items. Compared with the 

 present cost of planting, the sum is small. The work was 

 done by contract, under the terms of which the planting had 

 to be completed in two years, and the blanks completely 

 filled up at the end of ten years. It is not altogether easy to 

 account for the relative prices of planting in 1848 and at the 

 present time. As far as is known, the plants were notched 

 in four feet apart, and the planters were paid 18s. a 

 week. It is stated, however, that seedling larch could then 

 be obtained at about one-half the present rate. 



The amount at 3 per cent, compound interest to 1909 of all 

 superintendence, upkeep, and general expenses is ,£10,087. 

 The chief item under this head is "peeling of larch bark," so 

 that this sum is misleading. Unfortunately, it has not been 

 found possible from the records to separate out the details of 

 this expenditure, as only the total sum expended has been 

 shown. The cost of superintendence has probably averaged 

 £15 per annum over the whole rotation, or approximately 

 is. 6d. per acre. The question of barking larch will be 

 referred to again later. 



Rates and Taxes. — From 1848 until 1876, when the planta- 

 tion was first opened to grazing, no rates were paid. From 

 1876 until 1903 the rate was is. 8d. in the pound on the 

 assessed grazing value, and from 1903 until the present date 

 45. 8d. in the pound. The total amount of all rates calculated 

 to 1909 is ^130 155. 



Table IV. has been constructed to show the costs and 



