THE ESSENCE OF SUCCESS 175 



growing thereon, and apparently deciding that this 

 was productive rather than unproductive land, 

 assessed it at a high figure. Appeal was in vain. 

 The company was forced to cut down every tree, 

 large and small, and, since the cost of getting out 

 the few merchantable logs would have been greater 

 than the revenue obtained, they were simply left to 

 rot where they fell. The assessment was then re- 

 duced to a nominal figure. Instances of this char- 

 acter have occurred in several different states. 

 Massachusetts, Pennsylvania and several other 

 progressive commonwealths, however, have already 

 passed legislation assessing at a nominal value or 

 exempting entirely such lands as are either naturally 

 or artificially to be re-stocked, and providing that 

 when the new wood crop is eventually obtained the 

 state may recoup itself by taking eight or ten per 

 cent, of its value. This way of handling the prob- 

 lem does very well for the states above mentioned, 

 wherein the gradual cutting of the forests took 

 place simultaneously with a great increase in general 

 manufacturing which could be taxed in turn, but 

 where such other sources of revenue are lacking, the 

 problem is not so simple. If a large proportion of 

 the lands in a given county are suitable only for 

 timber growing and cannot be taxed until the crop 

 matures, the main source of public revenue is cut 



