But some of the practical questions asked are, "What is the cost of a nut orchard?" and, "How soon will it bear?" and "What will it be worth when it does bear?" No man can answer these questions with any degree of certainty, for everything that man attempts has its drawbacks and disadvantages. First-class budded nut trees cost from one to two dollars apiece. The balance of the cost depends largely upon the intelligence and efficiency of the labor applied in setting and cultivating. When will they bear? That depends altogether upon who owns them. If properly cared for they will begin setting some nuts in a few years and will increase the crop as the years go by. A pecan tree ought to bear successfully for fifty years--possibly longer, and ought to be bearing nicely in eight years if properly cared for. But, success depends upon the care and intelligence with which the original selection of trees and soil is made, and upon proper cultivation. I have set an orchard of northern varieties of pecans budded from the parent trees in the Evansville section on my farm in Maryland this spring. The land cost me sixty dollars per acre. When they are ten years old they ought to be worth at least five hundred dollars per acre. I do not know how much more this grove of nut trees will be worth in ten years, but I would not option them at the present time for that price. I have about the same confidence in the English walnut. I have always been conservative on these matters and always expect to be because in conservatism lies safety. These figures I have given you are merely my personal opinion. I have seen pecan groves ten and fifteen years old for which I would not have given any more than the land was worth on which they were growing. If any one has a notion that he can make money in nut culture, without intelligent exertion, he had better go into some other line of business in which there are men having a fair degree of success with unintelligent effort. I know of no nut grove in the whole United States that is succeeding without intelligent application, and on the other hand I do not know of a single grove which with intelligent application is not succeeding. I am a "conservative-optimist." I have been talking nut culture for a number of years and expect to see every hope and estimate which I have expressed fulfilled, and after all has been said and considered my final advice is to _Plant Nut Trees_. * * * * * THE PRESIDENT: The chair invites a very active discussion of this paper.