REASONS FOR FOREST MANAGEMENT 103 
is to say, the unproductive portion of the capital has 
been converted into money to be invested elsewhere, 
and the forest has been put into such a condition that 
its power of growth is utilized. 
The presence of a large amount of young growth and 
the prolific reproduction of the valuable trees makes it 
possible to manage the forest in such a way as to ob- 
tain a considerable profit now, and a very much greater 
profit in the long run. The latter is assured by the 
sustained and increased value of the forest capital, and 
by the opportunity to harvest successive crops at com- 
paratively short intervals. 
The present working-plan is based on the fact that 
the Spruce above an average diameter ot twelve inches 
can be removed without injury to the forest, and that a 
satisfactory reproduction can be brought about by the 
cutting. As has been emphasized elsewhere, this limit 
is not a hard-drawn line, but, on the contrary, only an 
average figure to aid in the determination of the yield, 
and to serve as a guide to the forester in marking the 
trees to fall. It will be necessary, for silvicultural rea- 
sons, to leave many trees above this diameter, and to 
cut many which are smaller. But a careful silvicul- 
tural study of the Spruce has made it clear that an 
amount of timber equal to the yield above twelve inches 
can be removed safely and in such a way as to bring 
about the desired reproduction. 
The working-plan is concerned chiefly with the yield, 
growth, and reproduction of the Spruce. Spruce is the 
most abundant species. Except Pine, Cherry, and per- 
