Farm Timber Is Like Money in a Bank. Use Only the Interest, or 
New Growth, and It Will Continue Paying Dividends 
Trees are the capital in the farmer's woodland bank. If the timber 
is cut only to the extent that the gi-owth has increased since the 
previous cutting, the woods' capital remains unimpaired and con- 
tinues as a paying investment. 
Thinnings, as shown in the above picture, can be made repeatedly 
as the trees grow. Cuttings of this kind are favored by the pulp and 
paper companies because they can be repeated every few years. Thus, 
the total production of wood or raw material for the mills may be 
greatly increased. The woodland will at the same time be producing 
high-quality timber for the owner, such as poles, piling, and sawlogs. 
Such quality timber brings good prices and will enable the owner to 
profit from timber farming. 
Compare the above picture with the one on the left. Here the 
capital in the woods bank has been completely liquidated. There will 
be httle or no new growth, or interest, for many years. Good business 
and common sense call for a better method of handling farm woodlands. 
