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Page 459 of 2651

Author: Adam Smith

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Numerous herds of cattle, when allowed to wander through the
woods, though they do not destroy the old trees, hinder any young
ones from coming up; so that, in the course of a century or two,
the whole forest goes to ruin. The scarcity of wood then raises
its price. It affords a good rent; and the landlord sometimes
finds that he can scarce employ his best lands more
advantageously than in growing barren timber, of which the
greatness of the profit often compensates the lateness of the
returns. This seems, in the present times, to be nearly the state
of things in several parts of Great Britain, where the profit of
planting is found to be equal to that of either corn or pasture.
The advantage which the landlord derives from planting can
nowhere exceed, at least for any considerable time, the rent
which these could afford him; and in an inland country, which is
highly cultivated, it will frequently not fall much short of this
rent.

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