With the adjustment of existing licenses the decks will be cleared for conservative management of Dominion forests. For all future sales the individual timber sale policy should be adopted (see p. 269). The amount of timber already under license, however, is far in excess of market requirements. It will be unnecessary for some years to dispose of timber other than on fire-killed areas, isolated blocks adjoining operations in progress, and stands on agricultural soil needed for settlement. It takes but a very simple calculation to see that stump-age values have only to rise in most cases a cent or two a year per thousand feet of lumber to meet the expense of holding by the Government—that is, to balance the loss of ground rent, fire tax and interest on bonus, compounded yearly.
This field of management of forests for continuity of crop passes under the name of forestry. Forestry is merely the business of handling timberlands in an improved way for perpetual revenue. It is often considered antagonistic to the lumbering business, but this is erroneous, because forestry is completely dependent on lumbering. Its intensity of practice is in direct co-ordination with the status of that industry. It is regulated lumbering, lumbering so regulated with the aid of technical knowledge that the forest may produce revenue forever.
In Canada this idea is but slowly making progress. Yet the fact that practically all the forest land, both federal and provincial, is vested in the Crown expresses one of the most important considerations, for forestry is a long-time public business, requiring stability of policy.' In addition, it deals with matters affecting the prosperity of every Canadian—continued supply of forest products and conservation of water resources. Probably four-fifths of Canada is suited to tree growth only, and the Federal government has a national responsibility in taking the lead in utilization of forest soils.