Forest Management 31 



There must be cut: 



1. All economic necessities, especially severance cuttings. 



2. All decidedly mature woods the indicating percentage of 



which is too low. 



3. All woods which must be sacrificed to the proper progress of 



the axe within the cutting series; for instance, a group 

 of polewoods lying between two mature pieces. Whether 

 such a sacrifice should be made or not is answered accord- 

 ing to the rules of forest finance. 



4. All suc'h woods as are about to mature, as far as such woods 



can be reached by the axe in the proper progress of cut- 

 tings. These are the pieces for which an exact examina- 

 tion of the indicating percentage is particularly desirable; 

 which, however, are so near financial maturity that mis- 

 takes made will entail small losses only. 



By summing up the areas and yields of the above 'headings, the 

 periodical yield is ascertained. Control is required whether or not the 

 market is able to consume that yield without changing the prices of 

 forest produce on which financial calculations are based. The con- 

 tents of the working plan are as follows: 



1. Actual conditions of the forest. 



2. Compartments, cutting series, plan of road building. 



3. Yield. 



4. Future treatment, silviculturally, and forest utilization. 



5. Detailed descriptions of compartments and sub-compart- 



ments. 



PARAGRAPH XXVII. 



RAESS METHOD. 



The method recommended by (Dr. Raess might be termed the 

 method of sustained money yield. The method pays full attention to 

 the silvicultural as well as the financial requirements of the forest, and 

 gives the forester great freedom of action. Raess realizes the financial 

 mistakes due to a strictly sustained timber yield, and finds, on the other 

 hand, that a sustained money yield is a necessity for the proper balance 

 of annual budgets in case of wood-owning families, communities, or 

 states. 



Like Judeich, he treats every piece of the forest according to its 

 financial merits. If the revenue thus obtained exceeds the normal rev- 

 enue, when the excess is placed in a bank and left over for lean years, 

 etc. The normal revenue is that which brings the normal indicating 

 percentage on the capital value of the forest. Normal growing stock 

 ..and age gradation are discarded. Periodic stock-taking, not of timber 



