196 ECONOMICS OF FORESTRY. 



closely, that it is advantageous to leave more of 

 smaller sizes, i.e. to limit the diameter to which 

 they remove trees, so that they may return sooner 

 for a second cut, and also to avoid unnecessary 

 damage to the young volunteer crop. At present 

 the Umitation of size to be cut or to be left uncut 

 is based upon calculations of immediate profits to 

 be derived, and does not take into account any 

 future considerations, since the lumberman does 

 not cut with a regard to the future, but attempts 

 to secure the largest present gain. He views the 

 forest as a mere speculation. To curtail his pres- 

 ent revenue for the sake of a future revenue by 

 abstaining from cutting all that is marketable is 

 the first step toward changing this point of view, 

 introducing the idea of continuity, and treating the 

 forest as permanent investment. 



It must be understood, however, that the limita- 

 tion of the size of trees to be cut or to be left uncut 

 has not necessarily any bearing on the replace- 

 ment of the crop ; it is not silviculture. It is in 

 the main a financial measure, it being demonstrable 

 that it pays better to leave small-sized trees to 

 accumulate more wood before utilizing them, or 

 else a device to prevent overcutting of a valuable 

 species, so that it may not be eradicated too soon, 

 a wise measure wherever systematic attention to 

 positive silviculture cannot be given. 



