4 FOREST VALUATION 



a more even stand, more rapid growth, earlier thinnings, more in- 

 come from thinning and on an earlier final cut, saving him several 

 years waiting, use of the land and interest on the value of the stand. 

 Aside from the planting, all seems guess work. But this is not the 

 case; he has the experience of centuries, of thousands of men, of 

 many thousand acres of timber to guide him. He has faith in this 

 experience and decides to plant. His process of weighing possi- 

 bilities is Forest Statics. It computes extra costs and forecasts 

 extra results. 



It is clear that Forest Valuation and Forest Statics are not 

 sharply separated, that in most cases of valuation more or less 

 statics is involved and for this reason the two are generally treated 

 together in forestry, just as in other forms of valuation. 



In the above cases the lumberman or the forester might prefer 

 not to go through any tedious process of reasoning, analysis or 

 calculation, and simply "jump at" the conclusion that he could pay 

 ten dollars per acre for the timber, or in the case of the forester 

 that he could better afford to plant than to go on with natural repro- 

 duction. No doubt much of this is done. Some gifted or lucky men 

 succeed, most men lose. The gifted man has his own short method 

 and his results arc correct in proportion as he is clever. The aver- 

 age man can not and does not jump at conclusions or guess results 

 if he can avoid it. And it is to help the average man analyze a given 

 case, weigh the various factors and combine them in a scientific 

 and effective manner that modern forest valuation was developed. 

 The importance of this development in forestry is emphasized by 

 the fact that the forester commonly deals with large properties, not 

 his own, where it becomes necessary to place the case before the 

 owner or his agent in a perfectly clear and convincing form. At 

 such a time every item must be clearly stated in a form capable of 

 detailed discussion, the methods of analysis and calculation must 

 be explained and stand the test of examination and trial. 



3. Application of Valuation and Statics. 



As in every other business, so in forestry, the work of valua- 

 tion or the determination of cost or value of property (land, timber, 

 etc.,) or of operations (planting, thinning, protection, logging, etc.,) 

 follows every line of work and is always in evidence. For example 

 it- application in a few of the most important branches of forest 

 business; 



i. In purchase, sale and exchange of property, such as land 

 timber, or forest (land and timber together) the necessity of ascer- 



