15 



These old-growth groves are critically important for a number of 

 terrestrial species as well. In addition to providing protecting habi- 

 tat for the well-known spotted owl and the endangered bald eagle 

 and peregrine falcon, these forests are one of the three primary 

 nesting sights in the State of California for the marbled murrelet. 



Listed as threatened in 1992, the marbled murrelet population in 

 California is now estimated at 2,000. This is an estimated 90 to 95 

 percent decline in their historic populations in California and this 

 decline is thought to be directly related to loss of old-growth forest 

 habitat. 



I would also like to offer the written testimony of research, wild- 

 life biologist Kim Nelson of Oregon State University and chair of 

 the marbled murrelet technical committee of the Pacific Seabird 

 Group. 



[The prepared statement of Ms. Nelson appears at the conclusion 

 of the hearing.] 



Mr. Hamburg. Ms. Nelson concludes in her testimony: "The ac- 

 quisition and preservation of the Headwaters Forest is key to the 

 survival and recovery of the marbled murrelet in California." 



The Headwaters Forest ecosystem is far more than the sum of 

 its parts, far more than important habitat for a number of threat- 

 ened and endangered species. A lot has been made of Maxxam, 

 Incorporated's aggressive harvesting of these forests since acquir- 

 ing Pacific Lumber Company with junk bond revenues in a take- 

 over nearly 8 years ago. The high quality and price of lumber man- 

 ufactured from old-growth redwood make it a logical target for the 

 company. But the old-growth ecosystem is simply not a renewable 

 resource. 



Can we as a society afford to forfeit it to satisfy the corporate 

 debt obligation of an investor who practiced the argument of the 

 1980's junk bond finance. In this case, the public interest is dia- 

 metrically opposed to the corporate interest in profit. 



The public investment necessary to own and control this property 

 is a matter of great debate and profound concern. An appraisal 

 based on the stumpage value of every tree in the proposed 3,000- 

 acre Headwaters Wilderness area and a surrounding 1,500-acre 

 buffer valued that portion of the property at hundreds of millions 

 of dollars. 



But no one can contend that the public should pay for value that 

 could never be realized by the current owner. State and Federal 

 regulations undeniably limit harvest potential. Negotiations must 

 establish a realistic value which is based on the actual ability to 

 harvest. 



In the final analysis, after weighing all the evidence about the 

 impact on jobs, about the need to avoid future environmental "train 

 wrecks" with respect to the marbled murrelet and the salmon fish- 

 ery, about the unique ecological significance of ancient forests, fi- 

 nally we will have to look within ourselves and make a decision 

 about the public interest. 



We will have to make that decision without full knowledge be- 

 cause, in truth, we know very little about these magnificent forests. 

 We do know, however, that there is a great deal to learn about the 

 hydrologic effects, the climatic effects, and the whole life support 

 system that is the ancient redwood forest of the Pacific Northwest. 



