TABLE OF CONTENTS. 



Page. 



Letters of transmittal 3 



ECfects of scarcity and higli prices of forest products upon rep- 

 resentative industries 7 



General building and construction 7 



Farming 8 



The railroads 8 



The furniture industry 9 



The veneer industry 9 



The handle industrj; 10 



The vehicle and agricultural implement industries W 



The newspapers 11 



The sitaation summarized 11 



Abnormal conditions in relation to present scaj-clty an J high 



pviees 12 



Steady progress of forest depletion '- 13 



Forest depletion and migration of the lumber industry 13 



Basis for data 14 



New England , 14 



The growth and decline of the lumber industry 14 



Original and remaining forests 15 



Area 15 



Stand 15 



The annual drain upon the forest 16 



The annual growth 16 



Growth contpared with cut . 16 



The life of the industry 16 



Present and future consumption of lumber in New 



England J. 16 



New York 16 



Pennsylvania 17 



The Lake States 17 



Growth and decline of the lumber industry 17 



White pine 17 



Hemlock 17 



The northern hardwoods 17 



Original and remaining stand and rate of cut 17 



Lower Peninsula of Michigan 18 



Wisconsin and Upper Peninsula of Michigan 18 



Minnesota 18 



Condition of the remaining supplies 18 



The annual drain upon the forest 18 



Lumber cut compared with total cut 18 



Deterioration of the forest , 19 



The anrual growth 19 



Growth compared with cut 19 



The life of the industry 19 



Present and future consumption of lumber in the Lake 



States ^ 19 



The southern yellow-pine region 19 



The growth and decline of the yellow-pine industry 19 



The original and the present pine forests of the South _ 19 



Total merchantable stand 20 



Annual drain upon the forests 20 



The annual growth 20 



Cut and growth contrasted 20 



Deterioration of the forest 20 



Change to inferior species _ 21 



The lesson of the South Atlantic States 21 



Life of the yellow-pine industry 21 



Reduction of the output 21 



Present and future consumption of lumber in the South. 21 



Cypress regions 22 



The Rocky Mountain region : 22 



Development of the lumber industry 22 



Original and present stand 22 



The annual drain upon the forests 22 



Annual growth 22 



Cut compared with growth 22 



Local needs 23 



The future of the lumber industry 23 



Pacific coast 23 



Growth of the lumber industry 23 



Original and remaining forests 23 



Growth and depletion 24 



Life of the industry 24 



The Southern Appalachian hardwoods 25 



Growth and decline of lumbering ; 25 



The original forest 25 



The remaining stand 25 



Lumber cut and total cut 25 



Deterioration of the forest 25 



The duration of the cut of old growth . 25 



Effect of depletion upon selected industries 26 



The annual growth ; 26 



Growth compared with cut 26 



Importance of the Southern Appalachians in the future 



lumber supply of the country 26 



Hardwoods of the lower Mississippi Valley 26 



Area and stand 26 



Development of the lumber industry 26 



Growth and depletion 27 



The future of the region 27 



Page. 



Steady progress of forest depletion — Continued. 



Newsprint supplies 27 



The facts as to depletion 27 



Alaskan supplies of pulp wood 28 



The movement of prices ^ 29 



Naval stores supplies i 29 



Development of the Industry 29 



Remaining supplies 29 



Methods of exploitation 30 



Depletion and prices 30 



Original and present forests of the United States 31 



Original forest area 31 



Present forest area 32 



Saw-timber stands 32 



Total stand 34 



Location of requirements with reference to production and 



supplies 35 



Future trends in requirements 36 



Depletion and growth 37 



Present depletion and growth 37 



Possible growth :. 38 



Forest depletion and lumber prices , 39 



Price changes and regional depletion , 39 



Eastern softwood markets , 39 



Middle western markets 41 



Eastern hardwood markets 44 



Plentiful and depleted species , 45 



Prices in depleted or nonforested versus forested re- 

 gions -^ 47 



Prices and costs of production and distribution 48 



Mill prices and production costs 48 



Pacific coast 48 



Inland Empire 50 



Southern pine States : 50 



Wholesale costs and profits 50 



Transportation 51 



Retail prices and costs ^ 51 



The upward movement of prices -^ 51 



Distribution of price increase 53 



Retail profits 53 



Lumber prices unjustified by production and distribu- 

 tion costs 53 



Price control 55 



Some specific effects of regional depletion on prices 55 



Summary of principal price conclusions 56 



Lumber exports and timber depletion 57 



Lumber exports before and during the war 57 



Probable developments in lumber exports 57 



Effects of exports upon domestic timber supplies 57 



Imports of forest products 53 



Export trade policy 1 59 



Concentration in timber ownership, manufacture, and marketing. 60 



Concentration of timber ownership in 1910 60 



Timber ownership in the Northeast 60 



Ownership of softwood timber in the Southern States 60 



Ownership of hardwood timber 60 



Timber ownership in the Lake States 61 



Timber ownership in Idaho 61 



Timber ownership in Washington and Oregon , 61 



Timber ownership In California , 62 



Changes in timber ownership from 1913 to 1918 62 



A summary of the present situation as to timber owner- 

 ship , 63 



Concentration tendencies in lumber manufacture and mar- 

 keting 64 



The creation of large operating groups of afiBliated 



sawmills 64 



Greater financial strength of the lumber Industry 64 



Concentration of lumber marketing .. 65 



Development of trade associations 65 



Effects of timber depletion upon concentration 66 



Forest depletion the fundamental problem 68 



Cumulative effects of timber depletion 68 



Timber depletion and lumber prices 68 



Idle forest land 68 



A national forestry policy ; " 68 



The Federal legislation needed ' I 69 



Cooperation with States in Are protection and forest 



renewal _ 69 



The extension and consolidation of Federalforest hold- 

 ings 69 



The reforestation of denuded Federal lands. I"I I 70 



A study of forest taxation and Insurance 70 



The survey and classification of forest resources 70 



Current appropriations for forest research 70 



The State legislation needed 70 



Fire prevention and reforestation of private lands I 70 



State and municipal forests 71 



Taxation of forest lands ~ " 71 



