DEPENDENCE OF BUSINESS INTERESTS 

 UPON THE FORESTS 



BY 



HOWARD ELLIOTT 



President, Northern Pacific Railway 



MEN may, and do, differ widely in their views as 

 to the extent to which Federal control and 

 supervision should be applied to various forms of 

 business in the United States, but there can be less 

 difference of opinion over the idea that the preserva- 

 tion and reproduction of the forests must, at present, 

 be undertaken by the Federal or State Governments, 

 or both, if the work is to be done at all. Possibly as 

 the subject becomes better understood private capital 

 can undertake this work in some sections where the 

 conditions are favorable, but, at the present time, it is 

 probably true that forest reproduction by individuals 

 will not stand the test of yielding an adequate return 

 on the investment. Recognition of these conditions, 

 and the importance of forest preservation to the 

 reclamation of the arid lands have resulted in the 

 adoption of a public Forest Reserve policy which 

 should receive support, suggestion, and approval. 

 Business enterprises that are dependent upon the for- 

 ests should recognize this condition and plan accord- 

 ingly. 



I feel that I owe some apology for venturing to say 

 anything to this meeting, composed of men who have 

 spent more time than I have, and who know more 

 than I do on the general subject of forestry, and its 

 relations to the welfare of the country, now and in the 



