376 TIMBER BONDS 



for lumber. The following is taken from statistics of the 

 Forest Service, United States Department of Agriculture. 

 The consumption of lumber per capita is greater now than 

 ever before, and the timber of this country is being con- 

 sumed three to four times as fast as its natural increase. 

 The increase in population from 1880 to 1900 was 52 per 

 cent, but the increase in the lumber cut was 94 per cent. 

 Yellow pine is still far in the lead as a lumber producer, 

 supplying about 33 per cent of the total cut. Second in 

 importance is Douglas fir, which furnished 13.2 per cent, 

 followed by white pine with 12.2 per cent. 



During the period from 1899 to 1906 — 

 The Increase in Production of 



• Yellow Pine was 20.7 per cent 



Douglas Fir was 186.2 per cent 



Redwood was 83.2 per cent 



Cedar was 53.7 per cent 



Spruce was 1.3 per cent 



Hemlock was 3.1 per cent 



Western Pine was 46.9 per cent 



Cypress was 69.3 per cent 



The Decrease in Production of 



White Pine was 40.8 per cent 



Poplar was 38.7 per cent 



The Increase in Value of 



Yellow Pine was 77 per cent 



Douglas Fir was 63 per cent 



Redwood was 64 per cent 



Cedar was 66 per cent 



Spruce was 53 per cent 



Hemlock was 54 per cent 



Western Pine was 44 per cent 



C3^ress was 64 per cent 



The Increase in Value of 



White Pine was 45 per cent 



Poplar was 73 per cent 



With an increasing demand for lumber products and a 

 decreasing supply of the raw material — standing timber — 

 it is evident that the values of timber lands will continue 

 to increase. There is today no commodity more stable 

 in price than timber lands, and consequently no security 

 upon which money can be loaned with greater safety. 



FIRE HAZARD. 

 It is well known, generally, that a redwood forest has 

 never been destroyed by fire. There is no fire hazard what- 



