ECONOMICS OF FORESTRY. 



CHAPTER I. 



INTRODUCTORY: THE RELATION OF THE STATE TO 

 NATURAL RESOURCES. 



The natural _resourcps of the earth have in all 

 ages and in all countries, for a time at least, been 

 squandered by man with a wanton disregard of the 

 future, and are still being squandered wherever 

 absolute necessity has not yet forced a more care- 

 ful utilization. 



This is natural, as long as the exploitation 

 of these resources is left unrestricted in private 

 hands ; for private enterprise, private interest, 

 knows only the immediate future — has only one 

 aim in the use of these resources, namely, to ob- 

 tain from them the greatest possible personal and 

 present gain. 



Occasionally there may enter into its considera- 

 tion a desire to prolong the source of profit, so 

 that it may not only hold out during the lifetime 

 of the individual, but continue flowing for his 

 heirs ; or else other than business considerations 



