BUSINESS PHASES OF FOREST DEVASTATION 315 



nature would contain merely such information as the public is quite 

 justified in having from any great industry, and particularly from an 

 industry dependent upon a vanishing natural resource of high impor- 

 tance in everyday life. 



As to costs of production, the public, while grudging no pne a liberal 

 profit on his investment, is in no mood to be kept in the dark on this 

 subject. The Government, at any rate, should be fully informed about 

 costs of production at all times ; the public should be informed when- 

 ever the public interest warrants. In order that the Federal Trade 

 Commission may obtain accurate data on costs of production, stand- 

 ardized accounting systems would seem desirable. 



The Committee believed that frank publicity on such matters was 

 indispensable to a fair understanding as between the public and the 

 lumbermen ; it believed that if such publicity obtained there would be 

 no necessity at all for what opponents of the plan call "complete Gov- 

 ernment control"; and it was distinctly opposed to complete Govern- 

 ment control, in particular to Government price fixing. Public con- 

 trol of and public information upon some of the more important busi- 

 ness phases of the industry seemed, however, quite essential to any 

 effective plan for keeping forest lands productive. 



PRODUCTION, COMBINATION, AND GOVERNMENT CO-OPERATlON 



The clause relating to the control of production was inserted by the 

 Committee with the idea that it would assist in stabilizing the lumber 

 industry. It was designed to prevent wasteful over-production, or at 

 least to minimize so far as possible the evil effects of over-production. 

 The injuries resulting both to the industry and the public through the 

 demoralization of the market and the wasteful use of a dwindling re- 

 source need no discussion. It was believed that the lumber industry 

 itself, in spite of the prickly problem of bonded indebtedness, might be 

 able to suggest some sort of a workable plan which would largely fore- 

 stall any serious over-production, and that the Government might give 

 force to such a plan. Optimism as to the future demand for lumber 

 now reigns. Would it not be wise, however, to think the matter over 

 in preparation for a possible rainy day later on? 



The reference to the combination of lumber manufacturers explains 

 itself. "To sanction the co-operative combination of lumber manu- 

 facturers for all purposes resulting in economies of production and 



