work or that of their lieutenants, can satisfy the demands of 

 progressive business men. 



A brief outline of the principal ideas underlying forestry, 

 and their application to efficient management of forest prop- 

 erties, is of value in moulding one's opinions, and turning them 

 in the direction of obtaining maximum returns. But the 

 actual use of those ideas as applied to any particular piece of 

 woodland will vary greatly, so that much practical experience is 

 needed to enable one to make the most of them. 



Four classes There are, broadly speaking, four classes of people who are 

 concerned concerned with forests: the land owning class; the operators, 

 who cut the standing growth; the mill men, who transform that 

 growth from raw material to finished products; and the con- 

 sumer. These classes at times may be interwoven, one man 

 may belong to all classes, but there are always found these 

 main divisions. 



The land The land owner, unless interested in cutting operations also, 

 owner is chiefly concerned in his property from the standpoint of an 



investment. He de- 

 sires to know, first 

 of all, whether or 

 not his money, in- 

 vested in forest prop- 

 erties, constitutes 

 a safer, more profit- 

 able, and more desir- 

 ableinvestmentthan 

 if otherwise employ- 

 ed. This can be de- 

 termined not alone 

 from the present re- 

 turns from his in- 

 vestment, but must 

 take into considera- 

 tion the future value 

 of the property. If 

 present returns are 

 eating into the prin- 

 cipal unawares, and 



Thrifty spruce growth. Land like this should be a ^.^ e property is los- 

 source of perpetual income. Note the . . , 



vigorous reproduction. in g in actual Value 



8 



