543 Forestry Quarterly 



damage it is my belief that future studies will warrant its ex- 

 tensive use in New England either in pure stand or in mixture 

 with White pine. 



Under present conditions forest planting in New England as 

 a profitable investment for private individuals must, I believe, 

 meet the following conditions : 



1. Be confined to the species which have an established market 

 and which experience has already shown produce the highest 

 financial return. These species are chiefly White and Red pine. 



2. Be confined to first or possibly in some localities to second 

 quality sites, because the initial investment on such sites is but 

 little less than on third quality sites and the yield is much greater. 



3. Be located near a good present or prospective market, 

 where an outlet can be found for thinnings and all classes of 

 wood products at remunerative prices. 



4. Be confined to areas where the fire hazard has already 

 been practically eliminated. 



5. Be confined to states or localities where the problems of 

 forest taxation have been satisfactorily and permanently ad- 

 judicated. 



6. Be confined to sites where the market value of the denuded 

 land is ten dollars or less per acre. 



When plantations can be made in New England that meet all 

 of the above requirements the investment is, I believe, of high 

 grade and gives assurance of returning a large income on the 

 capital invested. Only a small part, however, of the waste and 

 unused lands of New England meet all of the above requirements. 

 As more and more of these requirements cannot be met, the in- 

 vestment in planting becomes less and less attractive and finally, 

 if it is done at all, must be done by the State or community. 



The earnings of governmental and communal forests, unlike 

 private forests, cannot be measured by the interest return on 

 the investment alone, derived from the sale of forest products. 

 It must be measured also by the influence of the forest on the 

 industrial, economic and social life of the community. The in- 

 direct value of forest growth to the community as a whole, par- 

 ticularly on land unfit for agriculture, is so great that govern- 

 mental and communal forests must be classed as sound and 



