HARDWOOD RECORD 



33 



that forestry Includes only the growing of trees. 

 Lumbering is an essential part of forestry. On 

 the other hand, the underlying idea of forestry 

 Is continuity of use. Forestry aims to utilize 

 the present 'product of the forest with the great- 

 est possible economy and protit to the owner, 

 but at the same time to provide for the continu- 

 ance of the forest and for the production of 

 timber in the future. Decided progress already 

 has been made among lumbermen in the preven- 

 tion of waste, and to my miud they deserve very 

 great credit for this. 



On the productive side of forestry, the first 

 step is to protect the forest from injury by Are. 

 In certain regions lumbermen have initiated sys- 

 tematic plans of fire protection. There has, how- 

 ever, been very little attempt on any large scale 

 among private owners to provide for the replace- 

 ment of timber by new growth. Conservation 

 Is promoted by every measure of close utiliza- 

 tion, but even if eveVy cubic foot of wood were 

 utilized with absolutely no waste, forestry would 

 not be accomplished unless the continuance of 

 the forest Is provided for. It is here that a 

 conflict of opinion often appears between those 

 who discuss conservation from the standpoint of 

 public economy and those who discuss it from 

 the standpoint of private business. There is, 

 further, often a iaclj of clear conception as to 

 Just where forestry begins and where it stops. 

 Forestry Investments Most Bring Adequate 

 Retdrxs 

 There is for every type of forest a maximum 

 of production. By the expenditure of enough 

 labor. It is possible in time to bring a given 

 forest up to this condition of maximum produc- 

 tiveness. For example, it would be possible to 

 plant open lands with good species of trees. But 

 the measures necessary to secure this maximum 

 production would involve a large Investment, 

 and one which might not yield an interest return 

 at all satisfactory to the owner. 



Now the forester, although he aims to secure 

 as high a productiveness of the forest as pos- 

 sible, does not handle the property with this In 

 view regardless of business considerations. 

 Investments in forestry are justified only when 

 there will be adequate returns either in money 

 or In some other desired form, and Investments 

 cannot be expected unless such returns can be 

 shown. Under our present conditions it is 

 usually not possible to secure the maximum pro- 

 ductiveness of the forest and meet the financial 

 requirements of the Investment. 



How much then must one produce from a for- 

 est in order to practice legitimate forestry? In 

 other words, what Is the minimum of forest pro- 

 duction which may be established as the divid- 

 ing line between forestry and destructive lumber- 

 ing? The simplest principle and the one which 

 I believe in the long run is most practical Is 

 that those areas which are to be held perman- 

 ently for forest use should be managed in such 

 a way that the production l>y yearly growth 

 should not be progressively reduced, but should 

 at least be maintained. If l>y failure to provide 

 for replacement or it through destructive fires 

 the productiveness of the forest is constantly 

 decreasing, ultimately there would be little or no 

 forest at all ; and that Is exactly what is hap- 

 pening In many places under present methods. 

 If. on the other hand, there is provision for new 

 growth and conservative handling of growing 

 timber so that the growth equals that which 

 produced the present stand, the forest's pro- 

 ductiveness is not decreasing, even If it does not 

 approximate what might be secured by a larger 

 outlay of money. 



Determining Mean Anncal Forest Growth 

 This measure of produc^tion is a very easy 

 matter to determine, if It is based on the mean 

 annual growth of the forest. If, for example, 

 the first forest is 200 years old and yields 10,000 

 feet to the acre, the annual growth is 50 board 

 feet. In this case. It the forest Is handled so 

 that the mean annual growth of the next crop 

 v.Ili be 50 feet, it falls within what I should 

 call the dividing line lietweon forestry, or a 

 system of maintaining forest production, and 

 exploitation. In which there would l>e a const.ant 

 lowering of the yield. I may add that on 

 account of the small yield of the virgin forest 

 compared witli what might be produced under 

 forestry such a return is exceedingly slow. Any 

 system that does not produce at least 100 feet 

 per annum is pretty poor forestry. But between 

 this minimum rate of growth of the virgin forest 

 and the possible maximum growth lies the range 

 of forest production under legitimate forestry. 

 Just what point will be reached within that 

 range depends entirely on the object of the owner 

 In handling his forest. 



As the purposes of owners differ, so also must 

 the methods and practice of forestry differ. The 

 Indirect benefits of the forests and the provision 

 tor an adequate supply of timber in the future 

 may fully justify an investment In a publicly 

 owned forest which would not satisfy the private 

 owner. Sometimes a private owner holds prop- 

 erty for other purposes than the financial returns 

 from the timber, as for example wealthy owners 

 of large private estates, shooting clubs, water 

 companies, etc. But for the lumberman forestry 

 Is a IjuBlness proposition pure and simple. The 

 uppermost question is whether it will pay. 



This question is ordinarily discussed from the 

 standpoint of the cost of producing timber from 

 the seed. The elements of cost are the value 

 of the land, the cost of planting the trees, and 

 the annual expenses of taxation, administration 

 and protection. The interest on ail expenses Is 

 compounded and the aggregate compared with 

 the probable returns when the timber is mer- 

 chantable. Forest planting will pay where the 

 forest can be protected at a reasonable expense, 

 where the taxes are not heavy, and where a 

 suliiclently good market for the timber can be 

 counted on. But under such circumstances as 

 confront the average timberland owner, planting 

 on a large scale is not at the present time an 

 attractive investment when the necessary initial 

 outlay, the risks, and the returns from the plan- 

 tation are consideied. If you should ask my 

 advice as to whether you should buy denuded 

 lauds In the South and plant them on a large 

 scale as an Investment, I should advise against 

 it. 



Management of Present Forests Most Pro- 

 FiTABLB Forestry 

 In my judgment the question of the financial 

 returns from private forestry should not be 

 looked at from a theoretical standpoint of pur- 

 chasing land and planting trees, but rather from 

 the standpoint of the management of forests 

 already under timber. Such forests are those in 

 which you are now operating or intend to oper- 

 ate. The opportunities for paying forestry at 

 the present time are to be found in the conser- 

 vative handling of lands already stocked with 

 immature trees and young growth. It is today 

 possible in many instances to purchase land well 

 stocked with young timber up to 75 years of 

 age for the same amount or less than it would 

 cost to buy denuded lands and plant a new 

 stand. There are in the South hundreds of 

 thousands of acres of young timber which can, 

 I am told, be bought comparatively cheap be- 

 cause the trees are not yet of merchantable 

 size. When the old yellow pine is exhausted the 

 supply is going to come from this small timber. 

 It Is relatively young and growing rapidly. It 

 will be merchantable in a comparatively short 

 time, not only because of the growth which will 

 take place, but also because ilie market will 

 be better. Such timber will in some cases oc- 

 cur in separate bodies, in some cases in patches 

 mingled with old timber, and sometimes as indi- 

 viduals and small groups among the very old 

 mature trees. 



Investments In It should attract capital even 

 under our present conditions. The original invest- 

 ment called for Is comparatively small, and both 

 sure and early profits are clearly in sight. In 

 my judgment, the forestry which will most gen- 

 erally appeal to private owners now is of this 

 class, where thrilty and rapidly growing trees 

 can be reserved as a basis for later cutting at 

 the same time that renewal of the forest for an 

 entirely new crop is provided for. 



There is, of course, a speculative element In 

 tuch an Investment. The profit will come partly 

 through improved markets and Increase in 

 stumpage value, and only partly through the 

 actual growth of the forest. But when you buy 

 t;mber which you do not expect to cut Immed- 

 iately you consider, in making your investment, 

 what you expect the stumpage will he worth 

 when vou are ready to cut. There is no practi- 

 cal reason whv forestry should he expected to 

 justify itself on the basis of present prices, for 

 there is good reason to think that the market 

 price will go up while the timber is growing. 

 The possibility of speculative profit is as properly 

 a part of the forest proposition as It is a part 

 of any other timber land purchase proposition. 

 Early Returns on Investment Desired 

 A more serious objection which you may raise 

 to my presentation of the opening for forestry 

 is that, as I have described it, it is forestry 

 with forestry left out, for earlier In this address 

 I myself insisted that reproduction is necessary 

 in order to have true forestry. I believe that 

 the average American lumberman is not much 

 more interested in natural reproduction than he 

 is in plantations. He is interested in a conser- 

 vative forest policy which will mean a return In 

 10 15 or 25 years. It Is hard for him to Interest 

 himself in returns one or two generations hence. 

 Nevertheless, I believe that the question of repro- 

 duction is well worth your attention on practical 

 grounds. eveA though you have not the interest 

 of the owners, who are planning a heritage for 

 their children and grandchildren, or of the cor- 

 porations organized on such a permanent basis 

 •as to look far into the future. 



Already in the best settled portions of our 

 country land well stocked with young growth 

 brings a higher price than denuded land. Even 

 the land speculator who has no interest in per- 

 manent forestry may well take this into account. 

 Reproduction can be secured naturally in most 

 cases where a second cut is contemplated. If 

 there Is enough rapid-growing timber of medium 

 size to make holding it for a second cut good 

 business— which I believe to be usually the 



case natural reproduction can be secured from 



the reserve trees, provided fires are controlled. 

 The holding of immature timber necessitates a 

 certain amount of protection, which with com- 



paratively little additional outlay will suffice to 

 secure reproduction. 



But the question which you will ask is whether 

 this is worth while at all if it requires any 

 additional outlay. I Ijelieve that it Is emphatic- 

 ally worth while. In the first place, for the sake 

 of the Increased sale value of natural forest land 

 after the present stand has been removed. If It 

 is then well stocked with young growth. In the 

 second place, 1 believe that the permanent inter- 

 ests of the lumber business not only justify but 

 demand such a handling of your forest property. 

 Present Market Unfavorable to Practice op 

 Forestry 

 If I have sensed the present situation properly, 

 the majority of the lumbermen feel that the pres- 

 ent market conditions are so unfavorable that 

 there is but little incentive and no obligation to 

 practice forestry. But the public also is con- 

 cerned. Take for example a state like Louisiana, 

 one of whose greatest natural resources is the 

 timber, a good deal of it, I understand, owned 

 by nonresidents. If this timber is cut off without 

 providing for the continuance of the forest, the 

 state suffers an injury. if clearing of forest 

 lands which are not suitable for agricultural pur- 

 poses occurs very extensively there may be a 

 very serious impoverishment of the state, or 

 portion of the state, exactly as has happened la 

 some other states with which every one is 

 familiar. There is no question that there is a 

 strong tendency toward state legislation looking 

 to some kind of restriction on private lands. 

 Bills have actually been Introduced in state legis- 

 latures having in view legal restrictions as to 

 how the timber should be cut. 



The American people when aroused to the need 

 of a given reform are impatient to have it accom- 

 plished at once. It seems a good deal simpler 

 to place the burden of forestry on the private 

 owner than to distribute it among the public at 

 large. Undoubtedly, it would be easier to get 

 legislation compelling private individuals to prac- 

 tice forestry than, for example, to secure large 

 appropriations for the purchase of state forests. 

 I'ureiy from the standpoint of technical forestry 

 the restrictive legislation so far proposed Is for 

 the most part unwise. I believe also that to 

 begin with such legislation is to begin at the 

 wrong end. But I believe also that unless lum- 

 bermen recognize that they have a responsibility 

 to the public, restrictive legislation is bound to 

 come sooner or later. If private owners will 

 not conserve the forests, the public will. 



Individuals and States Must Share Eb- 

 sponsibility 



My own program would be for the private 

 owners to recognize that they have a responsi- 

 bility to handle the property so that it will not 

 result is an impoverishment of a state, and that 

 the state should recognize its responsibility to 

 aid the private owners in carrying out the neces- 

 sary conservation management. In the first place 

 the state should cooperate with private owners 

 to control fires, through fire laws, education of 

 public sentiment against fires, and a fire-fighting 

 organization ; such an organization, for example, 

 as is being introduced In a number of the north- 

 ern states. In the second place, there should be 

 a fair system of taxation so that owners need 

 not fear that ail possible profits In forestry may 

 be eaten up by taxes. A third obligation resting 

 upon the state Is to assist owners on the technf- 

 cal side of forestry through advice as to methods 

 of reproduction and fire protection. 



I should like to see lumbermen practice for- 

 estry, not because tbey are forced to do so by 

 legislation but because it is to their interest to 

 do so. Personally I believe that it is to their 

 iLterest to do so, from the financial and every 

 other standpoint. At any rate, I am perfectly 

 convinced that we shall soon reach a point 

 where It must be decided whether or not conser- 

 vative forestry can and will be introduced vol- 

 untarily on private lands. 



Probably many of you will agree to the general 

 principals! have discussed, but have your doubts 

 as to the actual practicil application of them 

 under the present conditions. In my judgment 

 It would not be practicable for most large 

 owners to introduce immediately the practice of 

 forestry over their entire holdings. The reasons 

 are as follows : 



1. It would require a considerable Immediate 

 Investment. 



2. It Is not possible to determine now In any 

 individual case just what it would cost. 



3. There Is required an actual demonstration 

 of the necessary methods of cutting and fire 

 regulation. 



4. There Is required a demonstration of the 

 actual results from the business standpoint. 



By examination and study of a given forest, 

 one could make a plan of work and an estimate 

 of the cost of forestry, but this Is not what yoa 

 need. Each owner requires rather an actual test 

 of forestry by himself in connection with the 

 regular operation of his own business. 



The Plan Proposed 

 The definite proposition which I have to make 

 Is as follows : 



1. That those lumbermen who are Interested 



