200 ECONOMICS OF FORESTRY. 



largest possible ; this is secured by proper atten- 

 tion to silviculture, reproducing systematically the 

 harvested crop. Finally, when the industry is 

 fully estabhshed, he is annually to derive this 

 " sustained yield " as far as practicable in equal or 

 nearly equal amounts forever, under an "annual 

 sustained yield management." This is secured by 

 means oi forest regulation, the principal branch of 

 forest economy,^ which comprises the methods 

 of regulating the conduct of the business so as to 

 secure finally the ideal of the forester, — a forest so 

 arranged that annually, forever, the same amount 

 of wood product, namely, that which grows annu- 

 ally on all his acres, may be harvested in the most 

 profitable form. 



As in every business there is an ideal, a standard 

 in conduct and condition, which the manager more 

 or less consciously recognizes and follows, or seeks 

 to establish, yet, on account of uncontrollable cir- 

 cumstances can never quite attain, so is the ideal 

 of the forester never quite attainable, although it 

 is his obhgation to attempt and approach it as far 

 as practicable. 



The ideal conduct of the management " for annual 

 sustained yield " is possible only under the ideal 



1 For this branch of forest economy a number of terms have been 

 used, such as " forest organization," " forest valuation," " working 

 plan," " yield regulation," " forest management," which either 

 linguistically are not commendable, or else single out a part of the 

 work of the " forest regulator " to designate the whole. 



