CHAPTER VIII. 



METHODS OF BUSINESS CONDUCT: 

 FOREST ECONOMY. 



As in every technical industry concerned in pro- 

 duction, so in forestry the methods of the tech- 

 nique — the technical art- — are distinct from the 

 methods of the business conduct. Silviculture rep- 

 resents the technical art of forestry; while under 

 the comprehensive term forest economy we may 

 group all that knowledge and practice which is 

 necessary for the proper conduct of the business 

 of forestry. 



Besides the purely technical care in managing 

 the productive forces of nature to secure the best 

 attainable quantitative and qualitative production of 

 material, — the highest gross yield, — there must 

 be exercised a managerial care to secure the most 

 favorable relations of expenditure and income, — 

 the highest net yield, a surplus of cash results 

 without which the industry would be purposeless 

 from the standpoint of private enterprise and 

 investment. Moreover, an orderly conduct and 

 systematic procedure to secure this revenue is 

 necessary. 



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