CHAPTER 20 

 INDUSTRIAL FORESTRY 



Forestry is becoming the cheapest source of timber. 



W. B. GREELEY. 



INDUSTRIAL forestry, or the practice of forestry on privately 

 owned land by private enterprise, emphasizes one phase of the 

 forest problem that only receives minor consideration when 

 forestry is practiced by States or Government. It is the prob- 

 lem of money returns for money expended. Industrial for- 

 estry, like any other business undertaking, is an activity con- 

 ducted purely and simply for financial profit. 



"Will it Pay?" That is the one question that must be satis- 

 factorily answered before private capital is ever likely, of its 

 own volition, to become interested in the practice of forestry. 

 It is a money matter a matter of cold hard finance. Govern- 

 ments and States may embark on projects for the benefit of 

 generations still unborn. They can and do make expenditures 

 for the sake of indirect benefits to the public at large. They 

 need not think solely in terms of profit and loss. This is not 

 true of business. Stockholders are not philanthropists and their 

 purpose in undertaking any enterprise is to get back money 

 returns for money expended. Every foot of privately owned 

 land, whether it be a city lot, a farm, or a forest is a problem 

 in economics to its owner. Unless forestry can be made an 



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