388 Forestry Quarterly. 



It is certainly advantageous to have cutting take place when 

 possible, on areas where good growth will result in the stand to 

 follow. This usually means on the Pacific Slope at not over 

 3,000 feet altitude, as well as on favorable soils. 



Effect of Prices on Forest Poucy. 



The highest market prices should of course be secured for 

 National Forest timber. There is no reason, however, for push- 

 ing prices beyond the true value of the timber. The correct 

 policy is the Use Book policy of making prices according to 

 accessibility. Disregard of this leads to the prevention of sales 

 of timber greatly in need of sale, but inaccessible. No standard 

 prices should be so fixed as to defeat this result. Timber most 

 in need of sale silvculturally should, when possible, be sold first 

 regardless of its accessibility. This cannot be done unless prices 

 are flexible. Accessible timber will be worth just as much more 

 than inaccessible timber ten years hence as now. It is therefore 

 just as profitable to hold as the latter. The most defective 

 stands should always be cut first. 



The Question of Comparative Prices Received Here and 

 IN THE Rocky Mountain States. 



The Rocky Mountain states cannot produce sufficient forest 

 products for home use. If they export them, it will only be for a 

 short time, and to a short distance, to the prairie States. On the 

 other hand, if the United States is to produce its own lumber 

 supply, the Pacific Coast must always be a timber exporter. 

 This means that there will always be a difference in stumpage 

 value between timber there and in the Rockies, approximately 

 equal to the cost of transporting lumber from here to the Rockies, 

 modified by differences in the intrinsic value of timber in the two 

 places. Hence, timber that brings $5 stumpage there is probably 

 just as desirable to hold as $2 stumpage here. When stumpage 

 prices become $5 here, they will undoubtedly be $8 there. 



Question of Waste. 



In some quarters, objection to cutting now is made on the 

 ground that there is too much waste. All should, on the con- 



