138 PROCEEDINGS OF THE 



there are three great obstacles which must be reckoned 

 with in the profitable reproduction of timber, viz. : 

 time, fire and taxes. Let us consider them briefly. 



First, as to time. Few lumbermen have watched 

 the growth of timber long enough to know what its 

 increase is. Forestry is a new idea to us, and we 

 have given little thought to the future. Furthermore, 

 forest growth varies greatly in different climates, and 

 in different varieties of trees in the same climate. 

 Before he can consider forestry the lumberman must 

 know the rate of annual growth and the cost of pro- 

 tecting the forests. This information the forester is 

 able to give him. In other words, to tell how long 

 it will take to produce a merchantable tree, and the 

 average per acre. Knowing these facts, it is a com- 

 paratively simple matter to determine whether a given 

 forest can be maintained, and yet made to yield satis- 

 factory returns to the owner. Throughout the South 

 particularly, conditions are very favorable and promis- 

 ing. The reports of the Bureau of Forestry lead us to 

 believe confidently that there will be a profit in raising 

 short leaf yellow pine timber, provided that the history 

 of the increase in timber values in the North is repeated 

 in the South, of which there seems to be no doubt. 

 On the Pacific Coast also the climate is suited for the 

 steady and rapid growth of excellent timber. At the 

 present time values there are too low to insure any 

 profit in conservative forestry, but a few years will 

 undoubtedly bring about very different conditions. 



The average manufacturer holds too little land to 

 supply his mills indefinitely at the present annual cut. 

 To secure a permanent supply from his present hold- 

 ings, either they must be increased or his mill capacity 

 must be cut down. Eventually the big mills must 

 disappear, and in their place we shall have smaller but 



