literature. Nearly all forestry legislation—the public pro- 
grams of protection, technical and financial assistance, 
research, education, and public ownership—and many for- 
est industry programs are in fact societal adjustments de- 
signed to supplement the market system and increase tim- 
ber supplies. 
By any standard, these policies and programs have worked. 
They have resulted in the regeneration of the second and 
third forests in the South and made possible the develop- 
ment and growth of the forest industries, which now consti- 
tute such an important part of the South’s economic base. 
The programs have also been efficient—the benefits exceed 
the cost—and they have been effective in increasing the in- 
come of timberland owners. If future employment and in- 
come in the forest industries are to be sustained, action 
must be taken to expand both the public and private pro- 
grams that are effective in increasing timber supplies. This 
can be done in a variety of ways, but it must be done if the 
timber resource in the South is to maintain its important 
place in the economy of the South. 
