520 



AMERICAN FORESTRY 



ble" is that we are nol even maintaining our present 

 production by a proper care of our available supplies, 

 leaving out of consideration the State Forest Preserve 

 with its eight billion feet of standing timber, as un- 

 available for relief as the salty ocean water was to the 

 Ancient Mariner dying of thirst leaving this paradox 

 of non-productive forestry out of consideration, there is, 

 in the State of New York, on private forests of five hun- 

 dred acres or more, a total of 8,436 million board feet 

 and 115,731 thousand cords. This is the available sup- 

 ply on about six million acres of private forest holdings. 

 The figures including the woodlots and the State Forest 

 Preserve bring the total up to nearly twenty-six billion 

 board feet and over 120,000,000 cords. 



Hut we deal here, primarily, with the problem of the 



forest industries of the State cut more than the growing 

 stock will permit, there is a similar reduction of capital. 



This is precisely what is taking place in New York 

 State today. The accompanying table shows that the 

 yearly cut of our chief commercial trees is, with the 

 exception only of spruce, balsam and cedar, far in 

 excess of what the growing stock will support. That is, 

 we are using up our capital without adequate replace- 

 ment. This is particularly marked in pine and in hem- 

 lock, and in the group of northern hardwoods where 

 maple is the chief sufferer due to the great inroads of 

 recent years for flooring and for various kinds of 

 woodenware. 



The only reason why spruce and balsam fare better is 

 due to the fact that many pulp and paper mills are 



GENERAL VIEW OF AN ADIRONDACK LUMBER CAMP 



larger and more productive forest properties from these 

 there is cut, annually, a certain amount of each species. 

 This may be likened to drawing the interest on a capital 

 sum. If a man has $10,000 in 4 "4 per cent Liberty 

 Bonds, the annual interest yield is $425. So, with a 

 certain forest capital, or growing stock, the annual in- 

 terest or allowable annual cut should not greatly exceed 

 2y 2 per cent if the rotation be 80 years. That is, in a 

 forest under management for continuous production, 

 the actual cut of any species should not greatly exceed 

 the tot?.l available volume of that species divided by one- 

 half the rotation. This method of determining the allow- 

 able annual cut is known as von Mantel's formula. 



If the man with a capital of $10,000 draws out more 

 than $425 yearly, he encroaches on his principal. If the 



buying all the wood they can get from Canada and else- 

 where while holding their own standing spruce as a re- 

 serve supply. 



To bring this out more clearly, consider what capital 

 a man must possess who wishes an annual income of 

 $425 thereon at 4J4 per cent interest. The answer is, 

 obviously, $10,000. Similarly one can determine what 

 forest capital or growing stock is needed to support the 

 present actual cut of our chief commercial trees. Then, 

 by comparing this with the available growing stock it 

 will appear whether we have a sufficient, an excess or a 

 deficient growing stock. 



In New York State, as the figures in the table show, 

 the forest capital, or growing stock, is deficient in all 

 but spruce and balsam and cedar (for reasons alreadj 



