only save a certain amount of expense in printing, but would 

 provide a better medium for the advertisers. I have no doubt 

 the Council will go carefully into the matter. If the suggested 

 arrangement were adopted, we vould require to insist on having 

 the appointment of one of the joint-editors, and we could not 

 do better than have our present editor, Dr Borthwick. We 

 must retain our independence, and not allow ourselves to be 

 swallowed up. 



"There has been a great deal done by this Society in the 

 past in promoting the growing of timber; but there is still a 

 great deal to be done, particularly in regard to the practical 

 wofk of marketing. A discussion is to be started to-day by 

 Mr Leven which, I think, is most important. Increased 

 production and reduced costs are absolutely essential at the 

 present time, and I have no doubt the Council will go on 

 investigating these matters because I feel, now that we have 

 a Forestry Commission, a great deal more information will 

 probably be available for proprietors and others than has been 

 possible in the past. We should endeavour to demonstrate 

 that planting is such a reasonably profitable concern, that 

 syndicates or companies might be induced to invest money in 

 it. If such a profit cannot be shown, then taxation or whatever 

 stands in its way must be put on a proper basis. That is, I 

 think, one of the lines on which the Society should work. 



"One very important development has taken place during 

 my tenure of office, and that is the institution of the Forestry 

 Commission. This has been the aim of the Society for a long 

 time, and it therefore marks a very great advance and a very 

 great development. We have great confidence in the gentlemen 

 who are now at the head of afi^airs in this Forestry Commission. 

 But our duty does not end there. I think our duty is to support 

 them as far as we can, but at the same time to be severe though 

 fair critics. We wish to be in full touch with them, but with 

 absolute independence. It would never do for this Society to 

 be mixed up in any way with what I might call a Government 

 Department, and I am quite certain that these are the lines 

 on which the Forestry Commission would welcome our help. 

 The most difficult point at the present time is the question of 

 planting by private owners, which the Commission should 

 encourage as far as possible. We do not want to have an 

 entire Government monoply. We want emulation between 



