302 Forestry Quarterly. 



terion for the question whether the harvested wood is an income 

 or a consumption of capital." It is only an anticipation of a 

 harvest according to the preference of the owner. But as long 

 as the increment is either voluntarily or through force of cir- 

 cumstances left to accumulate, and is not turned into an income 

 it is also not taxable. 



A number of cited cases give opportunity for discussing argu- 

 ments pro and con. The theory of the stock capital is in every 

 case demolished, a surprising fact from the standpoint of forest 

 management. (And this in the country where the normal forest 

 idea had its birth in the tax collector's office. Ed.) 



The author then cites authorities, legal and forestal, who recog- 

 nize that soil alone is not the producer of forest crops, the wood 

 stock being a necessary concomitant; he also cites decisions of 

 Prussian courts, which recognize the wood stock as productive 

 capital, but admits that nothing but a definite declaration in the 

 law can alter the adjudication. 



Das forstUchc Jahreseinkommcn, etc. Centralblatt f. d. g. Forstwesen. 

 January, 1912. Pp. 3-23. 



The Timberman ofifers a suggestion for the 

 Forest creation of a system of timber taxation 



Taxation. which might be an improvement over the 



present inequitable methods. 

 Briefly the plan contemplates simply an addition to the present 

 method of taxation. The election of the system would be optional 

 with the timber owner. 

 Its salient features are : 



1. Creation of non-operative timber zones which could include 

 timber lands not required for immediate operation. 



2. Assess the timber and the land in the non-operative zones 

 separately. 



3. The land tax to be imposed and collected by the county 

 annually. 



4. The timber tax to be imposed annually and deferred timber 

 tax certificates bearing six per cent, interest, issued against the 

 timber. 



5. Interest on deferred timber tax certificates to be collected 



