250 ECONOMICS OF FORESTRY. 



advocate the use of the taxing power to encourage 

 the forestry industry are perfectly justifiable, pro- 

 vided it is used in a reasonable way. 



As a matter of fact, taxation of woodlands is 

 at least in most forested states of the Union most 

 unscientifically applied, and in such a manner as 

 to encourage forest destruction and discourage 

 forest management. Moreover, the quid pro quo 

 for which taxes are primarily exacted, namely, pro- 

 tection of the property of individuals, is most 

 inadequately performed by the community. 



It is customary to assess forest property by 

 including the value of the standing merchantable 

 timber; in other words, not only the apparatus 

 of production, but the product itself, the crop, is 

 taxed. If the same principle were applied to 

 agriculture, if the farmer were not only assessed 

 on the value of the land, buildings, and machinery, 

 but on the value of the growing crop itself, it 

 would certainly appear absurd, and discourage him 

 from all efforts to secure the highest values in his 

 crops. 



To be sure, as long as the forest crop is a mere 

 gift of nature, bought and exploited like a mine, 

 the crop idea does not present itself forcibly ; as 

 soon, however, as forest management, continued 

 systematic forest crop production, is contemplated 

 and practised, a more equitable principle of taxa- 

 tion must be introduced, namely, the assessment 

 of the soil alone, the value being gauged by its 



