2pjO.QP,OOJ) jjacrea ; ;thatw half ii that quantity is in the~"bands, of the j thrown, and at/6ttt!'fiy'd'Tiiilltdn-'acJ-ea each iJield by private and"1-by.Uthe natives. About 15,000 superficial feet is considered a "-yieldl'i:ii)ef jicfe..,, r Tlje, , report bstitnate'a* : thafe?^ tHS! sawn"' and "round tiniberVp taken, bat'i- or 'tW forests ~of ;Ne"w 'Zealand annually is mot leW than' "400,000,000 superficial ■iee't a year^-and it remarks that in Wei [JJington, CnriitcHurchi.'Dunedin,' and other citieß, firewood^ is already as. dear, Jif not idearer, than in any •capital of Europe.' leaking the average market'vaTue of timber, 'sawn,. apd, T ronnd, -aa.riOs."pet-, 100 super ficial' "lemptfle vSmttotidhp x 'pro'dace talfen annnally from ourlorests, is so less -thiin £2,ooo,ooofcTi Atcalculatiou iisAmade of the^-revenue; which- the five ..million Acres f)pH^atewest ought to yield 'iri'pro perjty tax, at Id itftk£'£ Value; and the result is £104,166,.*, sum it is Jj?raiy, i ,n ! e ! c,essary* ! ta'say, -is", not j.reajjßad.r sßnt the report; points out that the continual alienation".'6f-'-.Growni fore«ts;;--'at-Ibw' priies", ;ichiefr^;;f6r' ; the ' standing timbe?^,' loWersj^the .Valrie ,of jrivate fore'stsj : and' eqtjally deprives the State of the latge' revenue which might be derived front" this valtaable x ' ; nstnral iestate ;:whichi'<is! Viakit passing away and can' never 'be replaced. Frdnto.xhis ctext the, report gives a norhlly; on I fofestr" conservation/ the substance of" whjcbris'tliOs stated:— ■ ;>,.. j^"^ It has been estimated that 15,000 superfi cial feet >of timber, equal to the full yield of one acre upon an averagf, are producing a neti^ncoitte tf £16 2s lid to the dwner.of p • forest | under systematic |-. management, ;V¥[hy should not a like revenue accruo to, the! State; from the sale of its timber stand.' -in-1 equal'"conditions''of value 'apd: gttantity to .the timber ...on .private property t' ' "The " net ' income 'of £16 2a lrd'.aiisuig _frpm the sale of ;16,000 feet pf-standing timber is equal to 2s,JM, nearly, per 100 superficial feet; and, should ■ tlie.total quantity of timber y?arly cnt down on jUrbWnt Jands' :>il)e taken1 as 48j00b,600J supgrficial feet; 1 ' prices averagiDg \ ¥§o P.^.49P.ifeet,, ftifc wonldrindicate a revenueio [the .amount. ofJ £53,000''as!a' mjnimumV' snbie'cttothe'flactuations'of tHe;L timberjna.rkqt.;,'.,,,. ...,,.,, ;: ... t ..„'#*■'<>?■'"''■''' calculated that:-the forests of ,the colony ought, to, yield a. revenue'to the; Crown of ••£165,500 a 'year. Mr Lecpy,'K;i^who';- r'is'-'j. 