EDITORIAI, COMMENT 579 



over-cutting should result, action of this nature would hereafter auto- 

 matically limit the development of saw mills and other forest industries 

 in any given forest unit to what the unit would continuously furnish 

 raw material for. It is very clear that this will result in two things 

 from the standpoint of forest industry. In the first place, it will stop 

 the depreciation of saw mills and all other plants due to exhaustion of 

 raw material, leaving only wear and tear and obsolescence as the chief 

 depreciating factors. It will also result in a lessening competition in 

 forest industry which will tend to do away with the destructive com- 

 petition of the past. These two items of saving to the industry will, 

 in my judgment, contribute much more to its returns than the small 

 cost entailed by forestry will deduct from the returns. 



This is, however, not the only help private forest industry can receive 

 from public action. The mere forbidding of certain practices in the 

 forest will remove the competition of those who have been most ruth- 

 less in their cutting methods. It will save industry, as E. T. Allen 

 says, from competition of the "backward fellow." 



Then again, assuming that certain costs were placed on the industry 

 by public action, it is clear that in general the incidence would be 

 almost universally the same as in the case of a tax. Such costs are 

 always passed on without difficulty to the consumer, so that in this 

 way mandatory private enterprise may profitably do what voluntary 

 enterprise does not, because at the beginning so few voluntarily con- 

 serve the forests. 



B. P. K. 



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