It is very difficult to gather .from figures in foreign works whether the forestry of the old world is profitable or not. For instance, one of the best in England is said to be the 20,000-acre forest of Dean. It is said to be very profitable. But the only figures we find are those which show the income over expenditures in a single year. Last year it is said to have been " very profitable," because the income was over $24000, and the expenditures but about $15,000. No reference whatever is made to the capital account, or the years when nothing came in. It will be seen that even this way of counting "profit" only gives 45 cents an acre.