FOREST POLICY. ^ 147 



and a low rate of interest (compare the table in paragraph VII). 

 The indirect value of the forest is best promoted by long rotations. 

 Short rotations (e. g. of 20 years) are usually coppice and fire- 

 wood rotations. A high rotation is advisable in public forestry 

 for the following reasons: 



1. The commonweal can get along, being long lived, with a 

 low rate of interest; and its investments must be absolutely safe. 



2. A forest treated in a long rotation is more efficient in 

 securing the desired steadiness of water supply, navigation, public 

 health, lumber industry, etc. 



3. Private forestry will never produce that large sized timber 

 which may be required in the future as in the past. 



The letter of Secretary of Agriculture Wilson, dated Fe- 

 bruary 1st., 1905, which places Mr. Gifford Pinchot in charge 

 of the management of the National Forests, is worth reprinting: 



'Tn the administration of the forest reserves it must be clearly 

 borne in mind that all land is to be devoted to its most pro- 

 ductive use for the permanent good of the whole people, and 

 not for the temporary benefit of individuals or companies. All 

 the resources of forest reserves are for use, and this use must 

 be brought about in a thoroughly prompt and businesslike 

 manner, under such restrictions only as will insure the per- 

 manence of these resources. The vital importance of forest 

 reserves to the great industries of the Western States will be 

 largely increased in the near future by the continued steady 

 advance in settlement and development. The permanence of 

 the resources of the reserves is therefore indispensable to con- 

 tinued prosperity, and the policy of this Department for their 

 protection and use will invariably be guided by this fact, always 

 bearing in mind that the conservative use of these resources in 

 no way conflicts with their permanent value. 



You will see to it that the water, wood, and forage of the 

 reserves are conserved and wisely used for the benefit of the 

 home builder first of all, upon whom depends the best permanent 

 use of lands and resources alike. The continued prosperity of 

 the agricultural, lumbering, mining, and live-stock interests is 

 directly dependent upon a permanent and accessible supply of 

 water, wood, and forage, as well as upon the present and future 

 use of these resources under businesslike regulations, enforced 



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