This section is from the book "The Gardener's Monthly And Horticulturist V21", by Thomas Meehan. See also: Four-Season Harvest: Organic Vegetables from Your Home Garden All Year Long.
Not ten miles from the centre of the city of Philadelphia, on the York road, is a goodly-sized piece of forest land which was covered with young timber, chiefly of chestnut, and which the owner decided to have grow up as a piece of timber land. This was forty years ago. The land was then supposed to be worth about $75 an acre. It is now believed to be worth $150. The timber is now being cut and sold for fence posts, which bring-in the rough $18 per 100. There is a very great demand for these posts in the vicinity of this city, and it is thought the price for the posts is a very good one. The owner estimates that these posts bring him in now $300 per acre. Deducting what has been paid for taxes, we find that if the land had not increased in value there would have been a net profit of about ten per cent, per annum at simple interest. Some little benefit has been derived from the wood for personal uses during this long time, which will balance the waiting so long for the returns, leaving ten per cent. as the clear gain on the $75 basis.
But as the land has been steadily growing in value during forty years - from $75 to $150 - it would be but fair to charge interest on $112 per acre, instead of $75. On a calculation on this basis, the forest will yield but little over six per cent, per annum, exclusive of the net value of the land.