98 MASSACHUSETTS HORTICULTURAL SOCIETY. 



ditions forestry can be practiced commercially with a reasonable 

 profit. As a long-time investment the returns must be considered 

 as offering exceptional opportunities. The rate of interest under 

 each example cited per year for the principal first used besides the 

 4% already chai'ged at the end of the 40 year period, is in each case 

 as follows:— (1) to 16%; (2)25%; (3)41%; (4)4%; (5)9%; 

 (6) 29%. 



No matter how attractive we may make it the fact still remains 

 that fcAv people are willing to make long-time investments and wait 

 for their fruition. The time is coming, however, when farsighted 

 business men will recognize this source of investment as a safe and 

 profitable one. The State of Massachusetts it is believed can well 

 afford to make a beginning in this direction by purchasing at low 

 cost much of our cheap lands and restocking them as forest reserves. 

 Not only can they be made a valuable asset in the future to the 

 commonwealth but serve as examples of forestry methods. 



Forest fires are a great menace to practicing modern forestry 

 in Massachusetts and are undoubtedly one of the greatest draM- 

 backs to forestry undertakings. Our present laws regulating this 

 problem are not effective enough. We have bills before the present 

 general court of Massachusetts looking toward an improvement 

 in this direction. 



The laws relative to the taxation of forest lands are in no way 

 systematized or deduced to securing the best results. It is to be 

 hoped that some simple, practical, and expedient forest taxation 

 laws may be formulated at an early time. 



The greatest of all needs, however, and we must come back to it 

 as the foundation upon which our whole forestry structure must 

 stand for success, is a well-defined educational system by which 

 our people may be taught not only to recognize the importance of 

 forestry but how to get best results from a practical knowledge of 

 the theory and practice combined. 



In conclusion I would say let us be wise and farsighted. The 

 Massachusetts anfl New England of the future will be what you 

 and I make it. History repeats itself. In the old world the rise 

 and fall of the Roman Empire had its associations with commer- 

 cial forestry. Spain once the country of equitable climatic con- 

 ditions and beautiful meadows, the native country of the merino 



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