Mason Gaffney wrote:

"Interestingly a German forester, Martin 
Faustmann (1849), wrote a classic on valuation of forest
lands, but there seems to have been a wall between foresters and economists."


At least one later instance of forester - 
economist interaction is described in an 
appraisal text by Burton, James 
H.  1982.  Evolution of the Income 
Approach.  American Institute of Real Estate 
Appraisers, Chicago.  260pp.  Burton notes (pp. 
44-45) that Yale forestry professor Herbert Haupt 
Chapman's 1914 text Forest Valuation acknowledged 
the influence of Yale economist Irving Fisher in 
stating that the rate of interest is determined 
by "the demand and supply of money...impatience 
for income...and the preference for present over future income."

I have not looked at Chapman in many years and 
don't recall if he was aware of Faustmann.

While Faustmann is often credited with the first 
use of DCF in the valuation of land and other 
natural resources there are a number of much earlier mathematical treatments.

Scorgie, M.E., 1996. Evolution of the application 
of present value to valuation of non-monetary resources.
Accounting and Business Research 26, 237–248 
notes early applications, for example as early as the Great Fire of London.

Viitala, Esa-Jussi.  2006.  An early contribution 
of Martin Faustmann to natural resource 
economics.  Journal of Forest Economics 
12:131–144, adds to the pre-Faustmann list and 
also identifies a treatment slightly earlier than 
Faustmann by "F" which may also be attributable to Faustmann.

Scott Cullen