culating the amount of money the public spends in pursuit of the sport, in this case in harvesting 
the various units of game or fish, The tangible cost of a sport is indicative of its intangible val- 
ue, The money spent by the public to hunt and fish is a good measure of the public desire for 
hunting and fishing, just as the money spent for the man-made sports is a good measure of the 
public desire for these recreational activities, 
Items that we have considered valid in assessing the public values of hunting and fish- 
ing are those that most business firms and state and federal governments would recognize as 
legitimate expenses: cost of transportation, lodging, and meals; depreciation on gun and fishing 
tackle; cost of ammunition and bait; rent of or depreciation on boat and motor; lease or pur- 
chase of hunting and fishing privileges on private areas; guide fees and license fees, Probably 
few individuals would have all the expenses listed above, but all would have some, 
Private Values.--Not so high, of course, as public fishing and hunting values are pri- 
vate values: money accruing to the owner of private lands for providing hunting and fishing fa- 
cilities and harvesting commercial fish and fur, Over a long period of years, many private 
lands used for agriculture would be more profitable to the owner if restored or converted to one 
or more kinds of wild lands (Hewitt 1942, Bellrose 1945, Penfound .& Schneidau 1945), 
