30 Forest Management 



There is no possibility neither abroad nor here to establish an 

 absolute equilibrium between production of trees and consumption of 

 lumber, the latter being subject to continuous fluctuations, whilst the 

 former allows only of slow alterations. 



The American producers, with rare exceptions, have never at- 

 tempted to curtail the output of the lumber industry. On the con- 

 trary, when the price of lumber was low, when- the margin of profit 

 was small, the producers have usually increased the production so as 

 to obtain the surplus receipts required to meet pressing financial obli- 

 gations (mortgages, bonds, notes due, etc.) 



The output of the lumber industry has risen by leaps and bounds; 

 and it is astounding that the prices of lumber have advanced, never- 

 theless, by bounds and leaps. 



The advance of lumber prices is certain to continue, the available 

 supply of merchantable timber declining from month to month. 



An increased production of stumpage we may expect, indeed, to 

 take a start when the price of stumpage has increased at a ratio pro- 

 portioned to the increased price of lumber. 



Still, many a year must elapse before an increased production of 

 trees can result in increased offerings of lumber. In the meanwhile, 

 the famous "law of demand and supply" is set at rest; and prices will 

 continue to clinib upward. 



PARAGRAPH XXVI. 



JUDEICH METHOD. 



Judeich's method treats every part of the forest according to its 

 own financial merits. The management of the forest as a 'whole is 

 merely a consequence of the requirements of the individual woods com- 

 posing it. Sustained yield of volume or money does not underlie Ju- 

 deich's method. Where the capacity of the market requires it, how- 

 ever, sustained yield is advised. 



The treatment for each piece of wood is prescribed in detail for the 

 next working period. From these prescriptions the total volume yield 

 of the period as well as the total area to be cut during the period is 

 finally ascertained. 



The normal growing stock is entirely disregarded. 'Working plan 

 periods shall not exceed ten years; and every five years a thorough 

 revision of the entire working plan shall take place. 



Judeich puts great stress on the development of proper cutting 

 series (small). The lumberman's axe is meant to enjoy freedom of 

 action and a multitude of points of attack. 



For each working section the financial rotation is determined. Ju- 

 deich realizes, however, that the financial rotation is subject to change 

 and is satisfied with fixing it approximately. The plan of cutting 

 embodies the following points: 



