1 10 ECONOMICS OF FORESTRY. 



is determined by the judgment of the harvester; 

 it is a matter of choice influenced by technical, 

 financial, and national economic points of view. 



The time which elapses between the first estab- 

 lishment of the crop and the harvest is technically 

 called rotation or revolution or turnus, involving 

 the idea of return to the same area for harvest, 

 again and again; its determination is one of the 

 most important problems for the business man- 

 ager, and will find consideration in a later chapter. 



Besides the time element, there are, as in every 

 producing business, three factors of production to 

 be considered, which in varying combinations pro- 

 duce the result, the creation of values namely, 

 nature, labor, and capital. 



The relative significance of each of these pro- 

 ductive forces, as is well known, varies in every 

 industry, and also to a degree with the intensity of 

 their management. Forestry being the twin sister 

 of agriculture, both attempting to produce values 

 from the soil, it is natural to compare these two 

 industries with reference to the part which each of 

 the factors of production takes in it. It is difficult, 

 if not impossible, to compare these industries with- 

 out assuming as a basis a more or less equal 

 development and degree of intensity. In our 

 country, forestry as a business does not exist as 

 yet, except in small beginnings here and there and 

 without intensity, while agriculture, also, is as yet 

 relatively poorly developed as an industry upon a 



