XIII 
REASONS FOR FOREST MANAGEMENT 
THE forest at Ne-Ha-Sa-Ne Park is in great need of 
silvicultural attention. Not only is there much unsound 
and worthless timber cumbering the ground, but the 
forest in its present state is virtually so much idle cap- 
ital. On any considerable tract of virgin forest the 
growth is about equalled in the long run by the loss 
through windfall and decay. New trees spring up and 
take the place of those which decay or are blown 
down, but the total stand remains approximately the 
same. Considered as a piece of real property, the 
virgin forest yields no interest. The timber itself rep- 
resents accumulated interest, it is true, but the pro- 
ducing power of the land is expended in maintaining 
the present total, without adding anything new. Under 
the present system the lumberman practically ignores 
the fact that forest land is productive capital. He 
speculates in the timber with little regard to the real 
productive capacity of the land. He cuts not only the 
mature timber, but the growing trees as well. In other 
words, he removes not only the accumulated interest of 
many years, but with it the most productive portion of 
the capital. If, however, the ripe timber alone is cut, 
and enough young trees are left to replace it, the growth 
of the small trees and of those which germinate under 
the new conditions will be actual added interest. That 
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