A NATIONAL PLAN FOB AMEKICAN FORESTRY 



1121 



TABLE 6. Assumption II. National-forest areas created and administered as 

 State forests during period covered by study, without Federal aid other than free 

 cession of public lands 



1 110 percent of national-forest receipts. 



3 80 percent of national-forest costs. 



3 Interest at 4>i percent on actual cash payments for national-forest lands. 



This process of analysis demonstrates that of all the 28 States 

 involved only 2 would have derived a net profit through State-forest 

 management of national-forest lands. One of these would have been 

 Nevada where costs of forest protection are low and revenues from 

 grazing use general and relatively high. The other would have been 

 the State of South Dakota where the Black Hills and Harney National 

 Forests afford probably the best current combination of intensive 

 forest management, high productivity, large stumpage values, and 

 active local demand to be found on any national forest. Even in 

 these two States the theoretical net returns derivable through man- 

 agement as State forests would fall far short of the total benefits 

 actually enjoyed during the period through the agency of the national 

 forests. The other 26 States would all have shown annual deficits, 

 some of very large proportions. 



GENERAL SUMMATION OF RESULTS OF STUDY 



To facilitate comparisons, the net results as shown in tables 2, 5, 

 and 6 are summarized in table 7 and figure 2, in which there also is 

 presented an interpretation of the net financial consequences to the 

 States had the areas under consideration been administered as State 

 forests with approximately the same revenues as those actually de- 

 rived and the same administrative costs as those actually incurred 

 during the fiscal years 1923-27. The figures submitted are actual or 

 theoretical receipts and expenditures. No attempt is made to evaluate 



