&. 



The resillt is *chc;j \;he purchaser bir/ing a tract running 

 25,000 to 30,000 acres (and I believe the futnro \/ill hold 

 large sales), cannot give: the exact cut of each sr>eoies. 

 This is a factor which not only concerns profits; it is a 

 factor v/hicli the purchaser has in his eye when he consid- 

 ers the possibility of financial disaster. 



I fiinli that the purchaser is entitled to ~ in 

 examining "b-ie contract which he is to get and the policy of 

 the Government in carrying out that contract - that he 

 should conjure up all of the possibilities of an unfortun- 

 ate outcome, and all of the remote possibilities, but that 

 .he should consider the certainty of profit, and "believe 

 me", the average investor who puts in $500,000 or a million 

 dollars is goi^S ~^o consider: first, is my money safe, and 

 second, an I G'oi^G' "^o nalie a profit out of it. 



Luiaberinr* is a coiiT-iorci aliped industry with a mar- 

 gin of profit kept pretty close by competition. ^ profit 

 should never blind the investor to an3?- real drnror to the 

 capi'^-l involved. It maizes no difference if he malres 15/d 

 or 20% for a number of years if he finds later that a large 

 investment becomes valueless. I believe the Sovernrsnt 

 should in ovary case do its own marl:ing; then the Depart- 

 ment Officers themselves should deduce for the purchaser, 

 sample marliiii::s they have made ( , the amount that will be cut 

 of each species, osamine the tract if necessary, make a de~ 



259 



