CANADIAN FORESTRY ASSOCIATION 93 



showed that in predicting this timber famine we were after all not so far out of the 

 way. Not supply and demand, but knowledge of supply and demand makes prices 

 and the trouble has been in the past the absence of knowledge as to our timber 

 resources, and this lack of knowledge still works against our work of reform. 



Yet during the last few years the knowledge has increased and the result 

 has been that prices have risen as it became known that the supply was less than 

 had been supposed. In 1879 too, there was a sudden rise in wood prices. Why? 

 In that 3^ear also a census of forest resources had been taken, but unfortunately 

 it was not generally believed that the data were correct, and that they were under 

 estimates, so the prices did not jump as high as they should have done. What 

 we need in Canada is also more knowledge about our timber supplies. (Applause). 



Mr. STEWART. I think perhaps the audience as a whole did not exactly un- 

 derstand Dr. Fernow. I wish to ask him whether he agrees with MulhalPs figures 

 or thinks I was warranted in predicting a timber famine. 



Dr. FERNOW. I am pretty ancient, but not as ancient as Mulhall. Do you 

 want to know whether I agree with Mulhall or with this chart, which I brought here 

 to prove your case? 



Mr. STEWART. I would like to say that Dr. Fernow has published a book 

 and anyone who reads that book will find what he and I have just said borne out. 

 His " Economics of Forestry" is a book for foresters, which all of them should read, 

 and you will see by that book that we are warranted in saying that a timber famine 

 is in sight. 



Dr. FERNOW. I think it is quite true that this rise in price is going to continue, 

 it is already rising at the rate of eight per cent, per year, or doubling every nine or 

 ten years. There are three export countries outside of the United States and Canada 

 for the woods that we use Sweden, Russia and Austria-Hungary. These countries 

 have recently found out the same thing that we have that they have no more 

 surplus to export, and as a result they are beginning to put on export duties and 

 taking other steps to try to decrease the shipments out of the country of these 

 materials. That means more demand upon this continent, the United States and 

 Canada, for export, and everyone can figure out, by merely considering the area, the 

 possibility of production and consumption, and form a conclusion as to the in- 

 evitable result, even without the definite knowledge we should possess. 



The PRESIDENT. We will settle that this matter between Dr. Fernow and Mr. 

 Stewart is a mere difference in sight. Perhaps Mr. Stewart is short-sighted, while 

 Dr. Fernow is long-sighted. (Laughter). 



Mr. JAMES M. MACOUN, referring to a wall map of the northern portions of the 

 Provinces of Alberta and Saskatchewan, drew the attention of the meeting to the 



