63 



under certain conditions, to impose upon the owner the cutting out of ev- 

 erything below a given diameter. For, as we have seen, in nature's mixed 

 forest, valuable timber and weed trees are growing side by side, the dia- 

 meter restriction indiscriminately applied might prevent the removal of the 

 objectionable portion, the weed growth, putting a premium on the decima- 

 tion of the more valuable portion. Without silviculture, i.e., attention to 

 systematic reproduction, a diameter restriction is of little value. With sil- 

 viculture it is not necessary, for even the entire removal of the whole, crop- 

 denudation, and its replacement by planting or sowing, would accomplish 

 the object sought, namely, the continuity of the forest, and in many cases 

 might be preferable to other methods. 



In other words, the determination of the rotation or felling age, or of 

 the felling size, is largely a matter of financial calculation. This calcula- 

 tion is, however, influenced by silvicultural and technical, as well as purely, 

 financial, considerations. 



An estimation of value requires numerous mathematical calculations. 

 The forester must know the current accretion or increment of each year 

 and from this determine the average accretion, that is, an average of sever- 

 al current accretions. The value of a stand depends upon the size as well 

 as the volume and quantity among other things. 



The forester must in a large way be a prophet. He must forecast 

 what wood will have the largest sale in the future and also predict if the 

 price will increase at all. The only basis upon which he can judge is the 

 history of the past and he will be tolerably correct unless some unforseen 

 accident occurs. In Prussia for 65 years back the prices of wood have ad- 

 vanced l*/2 per cent, per annum. In Canada White Pine, sold for 4^-5*^ 

 cents per cubic foot 50 years ago, whereas in 1893 it sold for 16-42 cents 

 per cubic foot and to-day commands 60 cents' per cubic foot. This is a 

 very large advance. 



Besides capital and time there must be present an economic spirit such 

 as no other business requires. The product can be differentiated from the 

 capital, but forest management is dangerous in private hands especially 

 with little capital behind it. Hence, from the standpoint of the future this 

 is a business which rather belongs to the state or a persistent corporation. 

 In Germany, forestry has been practised for over a hundred years, and the 

 statistics of the German states will show the financial results. 



Let us take a glimpse at the results of forest management in Saxony 

 from a business point of view : 



1824-33 1854-63 1884-93 



Gross Revenue.. $1.75 per acre $3.74 per acre $6.67 per acre 

 Expenditure.... 80 " 1.15 



Net Revenue.... 95 " ,2.59 4.37 



Saxony owns 430,000 acres, so by multiplying 430,000 by 4.37 we can 

 find her net revenue from forests alone. Besides this we find the felling 



