\ ? Wright, Ernest(-Bo-oh e \ o,. -f he.s; li s) D^(:,lil.Ci r!,: ruili F,.;,, .,, -il')! "L'ti. ;:.: 1.ldi,.:;t: r;r a;- ., r_nt. . - _. i .l.l(,{"'i;itii i ::. :.,'.1 i.: r,ii 5,- .F E} de.i# :l .'j: _{ Ft ,1, THE ExPonT i,ul{iBEt ,*fl?" oF lrI{E IIIfITED STATJS ti'RrGm ERHIIST SiBtIOORAPEI rt of f oreign Euile'bin lTo.6? Dep and. dornestie eommeree '[J.S, Dep''b of Coirmerce Tlinbet"nran iriareli 1925 $omo Page 55. Publlo end Ee'onoilfu'Acpoetc; of bhe Lr:-urber Roport IJo.114. fndusir.y U. S. Dep lt of agnlcult,.ule. f*{t 6 Nov 1957 k""*d t SENIOR TffiSTS on TIIE EXPORT LUIvIBER TRADE Of' THE UI\iITm STATBS by ERI{EST lTRIGET for the consideration and. eorl"eetion of DEAIi GEORGE W, pEAtrry. Subrnitr"ed. Tli.i, IXPOIiT i,iii,Il[3 T]?l\nE LjF TI]E UTiTEI) STATES. A;-tier, i{: ar: Lu,t1t'rigt. Re gourt}€ s r 0rigi.nalJ-;r tii+ Uni'bt:C Si;stes conbained 822 million of fores'1;s }:ub ab t1:* p:,es.*11t t,iriie or:iy 4aZ rLllion asres nieillilLn. T1:* ;ffincipnl slrecies atle !h.e har.dl,loods in i;iie eenhnai anrj souLi.rlrrr r,egior,$, t)rfi.e g-eLicrlr gri-i:* aicrtig i;iie so,;th ,ii,il-f sLates, and il:ie r^rougl*e ALlarri;i* an,:-'l- !e,r"iwour1 f ir, slrru-Je anc ceclap o-il i;j:r: ITo.rLi:nest, 'svibl: ini:.cl: 5i;;l,iLer si",:n,i-s c:f - rr:j-alio Tll:ibe pine, Callfo:":ria Sugo.r' p'ine ar,'c ti:c l?crlvocds. Th*re arc aiso :'eiatlvely sttn'i 1 stetr.1r; r-rf East;e:.rr llJiil;e ,Oi:ie in ]iiinneaO"La anC lf iseOnsinr -q snC sil:iucs ln iriai:rc. ae.i",ls Ah iry*siirlb Lho Urrii;ed. Si;ate:: is i;iie thi:.ri. w*ei.bhlest i;ir;l?:er nai;it)]rt irr the vroritl ct)iLni;ir,:S lir:.3-oljor:: an.J Asietie Eussia * s ii:'s i; snri Ca:i**.a i) si $ec ril:rd . !1i,.. aver.rEise t*tal, ,.Ji;-i; of Lirirher,,in 1;iiis coutt"i,r"y lias t:een i-n'LiL,: 1;*st rp1-rrr)xiraabely 4C i:i_-l-l-ion lrcrn:,d feet annlrali-y, and of tl:iis titroiJ.ni; I lr(ji:eent or 3 ?:i j.i!.on hoalC fee r; iias been e,;;ported, Prfi ,s$Itr, Si:,a i;r-l$ Of A:nerigan Lr-rrirbei: "inclu-str.y. Tli.e ir:rd-]r.*i;r"y i:as soir.,i 49r000 gal"r ;nill pianis i.;hruouL tire il;j:, I 1;ci.*f :r*xijortrT:. eLltj - r",f f.i.$ i;il_1j-oii boa L,,i feet. f tiis :shcrws piai.nI"y l;lip, i, i;l,u iriC.irs l,rl". ie {:{ei. ins Lstled a.r:d Lresides a ;iiryr'l Ll's af sijuJrilrn$e is aisr-r cari:ieil. Tircse 'uyro faql,ors are in a gr;i1;-111,1";'r ';i la,rge iiresL',r;r'ri rr$i)ol1i'ji-'r-rir:r irrl';reL.!.odi3 oi/ry-r-jJr(-r*rrr:u!1rn1 l,reeause r:f i;ire neC'tlSCii:;r Oi- rir'-.r.;i,ir.,g i,"iS]: t,eXe,:lJ p,:.i,J. lii:i,e i,ci:.1, *l:.f,.f.geS. lSur.Llier;iioL,r:,rreri;r,r,ij-Ls; anai rrri-reli lirrii:ei." jias.been rrrcrr.tgaged, tiie u 1-ronderj. del:l; ol.c,rirt .r.rr.irrr i:rg inl,s: .'nens of iriiLli-r)rrs. Ili.iry on lriain feiifi,,:f i-,i:.: irlrgi,ray:!-yicltigi;r,;" i* l;irab i1r is. unsi;a?..rle a::i'1" ls a 3,jr:jr.ri1; lr-Lr*ier irr.!*es sre eot:iirtu_a1J-;, fiuctuati*g. FI'ttr,,i ti:rie i;o i..t.i-,,,-3 eifl,:rL l;ni i;e+r lnad.e tci Sbuilli-y,e the in_ ,Tue'i,1';: itHi;:'.:.:, fi,-:--l-,,c. c,.l ,.-: ,,tj t;'i.,.,,,;3lr{:gi, yir;-.r1ir..rr11. f oilrirer"$ of ,;ire 4?rco0 $,61'r ;riii-.i--", _i;):,,; irrunense :'cs*,.,ve cf i,iiri'oer. gr;.,r^iiJ, in excess *f th.e i-.lrr.':'.,c.ii;i.,e di j,,$i;cr, ri;ri i;1.:l: riai:i{, ,,,ri!;i:t[ ,'riric'l:."si,rii- mi,'l-]s can \* iL:stalled, x1 fr; l,l::: ;r-i l.;i.* Ai,.,::.ri,la:.: .i r,r-ilii-:r,.: {,iiitri i-.E S devrii;ed Of hi s i:rlri.r$-f i:i ov{iJ. srJi'it':.r l,l:r i)l-:nSi.Cal Oi.rsi;a,:l es of i:.isiliost business, ]'Ie li* r; l;crgn a v.i]:lr* L,!ierri,,i-rtggirra errg,iy"rer:r.'' rr"Lij fi]i iyrgeli.i.rus r,;*iu i,,il1 {rpej4at;g_r.", ?i;i ?:r-;"'i; ii* iiail crll.rji.r:i.,*ni1.l ", negiected ilhE rnafketi.ng of hi $ Ij:*rrd-ir.) i, . irl:*n ll';* 'i, i;irher c./i il.r:r. r) lr:.,i ir.r_14i,11i'.;,g,,.' Of tiie *.tiLmbr"y f;, irt-:rlBC "iate tl_:.i: sulle r"ior.it ,.f of Aji"ie1.!cali irrrn]rer "Lo lo.r:e I ir;r.r' []ijc ie s L:]:ey uiii r:oi; fa',-1 i,(r i".,a-i- i-ze i,lie irCVgr:1;aU,e nf an o:*g&,'iized. ex:iorj'l-;. ."18-fli,ij r; i,;,tg *;isi,r:l;l, r,itrl t;l ie ntjttessil;y r:f i;aking cere of tiie : fi()rlr1 li fJ*'S l.trSOill'Je 2 A:nerican Lun'j:e r,,ixg.;op! g. iil:i-L* bire annual prodLrctir:n of itl;rber in the U.S. has sLr:nly cL,:cilned iiincr: l-'gOt .i.;h* exi.,or"ts -nas gr.aCually iner.eass:d e-ae1: Jres.r ui: u"rr1;i1 1?15 iil.,i;11 bi:"ey i;ooll r,i r1sc,1-lne ancl then begar: i;'ireii: rise cL.i*e agaii:, _ rl:"e grerl'i;i:r;i; pcr,'u of 1;r':o iyoori. exp,o::ts J:as eonsLsted. each cf i1].ri]. s#,rr:i;1ing tit; & tobar- va1r,:e in i.9r.6 l':,I, , :oardsr-1:1anir[iro-i'rri'r11v; u8;rllJ-l-lir)rt dcliars, iil:e errluris r:f 1ogs un,i liely* saored 'i,i+s a:noi;.:rt;,*rl Lo si.rFr,(:xiitai,,ciy l]liSr00Or0Ct0"in l,it,: sa.jiLeand. year, Py fa:. ';hr: _r,ei,l-,ush Eit;roitj'iL Of art,i spec1,,.:e ex1:or"tei. in bhe ;;esi lias been sriribhern yerlr:r,r i]!.ne. -Tiris }:as bebn lcrig leaf pine. fri i-9?2 Dcugl.as fiy, eicec;r.ir:d sr:uLl:ier"5 *hlefly ;",e1iorr ,ptng l:'; ^i4! r44cr!!y r:rlar,j. ieJ*. Ti:.is-ii n v*i.y si;r"ickin8 ex,,r!flL1 r'riii*l;. bi:e iuilr,re:, iirlir,Ji"]"iu :rc.ryr.ng f}r',l;_-.'':.:f';,r"a5-ridii;r t.r .Jl.lv, L aU.l-:.t,,.1 CiraSt,, i?i4 lTil$ r.;r:e rlrig expr:.r:t j',:rap fot" r,h-e IJnil;t*d sta.r:es r:Jut .ln 1915 |.he:',i iras a. grert slump d.rre l,a Lhe yor,le ',ryai". At the 1:r:esent i:he ri:r.crx.b lutilhe,r,ii"rdulbr,;r fuss ncL qLriIe rorn* n1t to & "--" par, ,yiLli 1314 l;u-t; i* r,airid.1_y. in,:i,iar:irig .+acii y*or", in fo}mer- c.a;rs l:.rir:;*rr r,tres- sxiror.i_;eri eliiefiy frora Boston, Yoi.ii, Philadelphig, T{onfdlk, }rewito:,t }Ie,,ys br:d" near_by-ponts, ?-,ub. tlit: rtrigr*i;ir:n of i;i;e }i_:.rp}:,*r'inAuiiry t:n,r hr;;Sili other im_ i:o:'tr:rrf irorbs irrhr_r p:,r.r,r;inenc{j, A"L 1",r1,,*sLni, e goo11"s1ie.1"g of tlie iir.riire:'is shi1.,ped fr*i,r jiu,.d;.5et S,li;r.yr* ond 1;jre pfciflc Coas"L 1ror,.Ls, principaliy- $eat,flj:, Tacorri, re1-i.ingr,,,,,i, portLarr'j, s"" Fpanelsco r;llil- Los Angles, Tiir: soul,l:.e,r"n or.. giiff i)or"t;s ,i,* ui*o-;;iil"" extenslve cxpori;ing, T;.,e chie$ i:orts se* of i:,::s sj(3ctiai,-iiewi.rt are G.':i'ves'borr, ;'ot,"i; A;'5i:ur., Ilet'r O:"i*ans, :l.Ie-qr irci,_son.r,,iiie an.i lIr:i.r s . Liu;lber il-xpo:',r, ir:;; j,ie i;i;r.rris . /Lt ii:'* sLege of ex;>or.Lar;ion of r-un:b.:r f oi,iri t,i;is 'bl:e exroi1; cclrrpai:ios e*untry iuosL of_*ar'lJr or,vned. tireir., ol.rn sairing vessels. ritir tiie t,Lven'; of tle; si;ealisiips, the nlrrrrr:ep of 1rill 0i'iner"1. vesriDls d-ecreaged. evi;,-,y jl$fr]:. since ir_r-r;:Lrrr. is e.xpor"ted by $teanieirs ia:,ger- cargoss can-1;e ear.ried and it r:eea,ne necessery t,. devise so'1e methocl of ol:baining *"a-*ntprin[ th;"pr,:duet of sever"ai rniiis. Trius ti.re export ,;,Jc,dj-,,:r,r*r, ,"rn* inbo existenee an<1 hsve to-day a s'brong fobt hr:rid ir:l r;rae inar-rsiry, Ti:-': e,,{iJo-i"'-; ;iij.j,:r.1*r;te::r aj:.i:r r;e:-}*r!a1i-y caliec uporr tcr submit an o"ffe-r: lnclud.ing hh* eo,sL of j:he iurn1.:ur:-rr1; ti:e poi;[-of ioading. oCqrEr:.ii'eigi:"t ic ii;ts desi;ir:il.,1or:, ai:ri -insur,ar-.,.ce oi fhe freight. ?l-,e exr:orL; ;rii,l,jLeaan i*kex sL gr*i:b c.rianee u.pon obtair:ing 'rr'[:.o";;;;;i, hle f.rr:i-h si)a** rrl:tln .1,-,he r-r*rr*r jls i;l-ared. *]:onld g0 l-r-p irr thr rru+*n1;irii{: ire :,;rr jr' lr* ir...: r,, io**, rr l:erivn I and he os;*, Irrrlr,r p.gl; evr:n l.;0 abl-r: hr; ${iiCur}r:) i.,.1:* }-1,rr}Cei.isi:i y ",*"na$g. Ee*arrsc i;hi: :rri,:itl-1Eyr1l:.r ,_)l]$ r.F_r"!je nesr iror.t, s rrit.l: Clrect sl;r,'aiiish.i} crlilr-l{:rctio,.s i,rir,l:i rcriLii* lnu.*tr,:,ro, t::,:yauii* *f1;en 3 ii: n i'it'r;i;i-' '.;1r;il;i..,li 'r',r: ,,JC,,,f .': f.33:,:'i1n,. l- :1-.,-'a;; ICi;.; rj,a -bO Cglt,lt *'nlt$L1 'r,;,.c::r n s{lili ln:il.i OiJfi taal-;r:.r: nO'c. .i}l con$i;arlL bor-r-ch itir::1;e.1;h* ,; L'ui: l.r,*ighr -irr1,l..^t. Y,::".,). of i;r:rn Ll:er:": ;;iiCd.leriien ahFrte.r. t;hei:'sl;cniiri:I's ailc. ib lias been snic" il:at in il:e pasb fevr ]resr.s iir{,.i.',i ;]Lt-lnrjli -l:"r:l l.;cr:;:r i:ir}"d..e thi-< rray I;hs.r: b;r i,hr: .?ctul-l- $al e of' ii;-.irj.:-dr. birsr: Lh* 'To"r"id. lfar thc- oj.rr;ainiiig of orilers fr.o:n alroad ha.s }:een ]r.ej:ely a que-qtion of adequa'be tonnage and nob s que$t,ion of dolla"rs ilei, i000 feei. Exl;r::'b Agenb s. The exirorL; agcr:1, is a coirjiri:.,$siul-r nen ii€r,iyeen .bl:e erari.rC,I,1:ei. in Lher 1:rodi;-ci.r:lg ci:r-lni;.ry anC. Lhe .for.eign inpo.r*,i;er, oy evij'ii i:e';ereen Lhe d,ornestio expo:r'i; ri.ierel.ant and the cornrlrrrlfr Tliei:: :nain asseL is i;he lbcar }inourledge thattradinft bi:ey rnust poL{ses in ol.iel, to'i:uy t.i,r: ir,urfiier as cheai:}.1r as :_ios$llti,:, be: cau.se coril:eti r; ir:n is s'l-jrt_x1g, The exSrgfi; aget:r"i, soj;1c i-..iriir:s rilrt,eins a corir:ilission both frcrs i;l:e ;rurc].:'l..i,rrr cn,L Lh,: ;i-i].i.r';1s11 - - ri.rirlnl_]-y p$;:ercent fyo,t se3l.:.. Or $c:tol;iiri*s this ;:lat,"i;er is uei,blcd beLlleen- ilLe export ageni; nnd bl:* il:,oker. 1I;:oi:t .r'iic() i rr irt; air r:.r:Cer i;h.-: exporL eg*r:L ,: o:iuir:-n-i-eates iiis rniil conrietltlons *l"lrlt i.f ii, is i,i:r exiep.l;iona1i,y l.e:"ge or.Cci" lie r:il1;r.:r1 C_iviC-es il; j:retwue:: geverai mi11s. I{e thcn as:rer,ib'i es .i;he c,irg{, iir a coi-r.vcnii:n!:. 1_rorL or itrl+i;ru-cls bi:e shigr t;o ;-iieir i;!i* eargo LilJ fii; vr,ir.ioriri tlot ts. r,li1;1: *i: lri*.r:ehant . ki-1,* L]1 ,;;rpc:r."1 cgenl scil.s and."buys lulfilr:I, on a coiil' ;nission irr:s!s, l;l:...,; e.)iiroilil riiel."chort, s-t'rrrr.o1s.lor ihe .iii1por"i;er a.s aR lnd.eirr*ndet:t. e:tpr:rter opr::'aiing in jrls olcn najne. thua* exlrort ;nercirsrnt,s *rle ilr;;ir:r1 a.r? ti:e Guii consL t:sg:;ec!aii-y. Exi.:o "- Tire exj jei''L i:':-e.l'ehant.'i ge:lei'ri3-1;r x12L* a]4rangelrrent s rvi'b}: one orr ?lir]re io:"eig:r br"c]rers io r,epresenr t].ieni irr iarious eountries anri. the;r ot.i';ain ihei:: os"d.ertrj frlrri thei;i. ',:lligy1 tjtg ex"1ror.t i;ier,*?ir:111., o'i.r.i;ains; an otnder thfu l:is broke.r h.e senc.s cu.l bi.,Lr to !l:c vericus rni-iis ar:.d. seiecLs ihe :irosb favora"bie off*r. fn obb*ining i,1:r.r ii,rii:.ile.r:- Lhe ax;16r,,r, ;:rerehri::i eii;h-ef buys outrlgLt iro;n 'i;lic ;i:i^r.i oi. ;:;r...;u.i5'r::r 'bii cc:i-1,-r"r,cj:i1g; f,o.r .bhe enl:ii"e c,i;-i plil; of a rnill. Ti-ris latier"lrrc:1;}:ocl is bi:ie iiore risky d.ue to t}:c fi;-rcLu-rri:ig coridii;ion of -i;Lis irrrn]:cr inni.kel;. Cu::s igrr;;ianL s . sa-'rrii;ii1 operi,rLoi.$ rrrrL expor."L rcei'ehant;s often 4esire to "i.isi;csr: of i;hei.: stock i'.rl'i,iie:ut wait:irig for. or.ders bo corrie iy1. d9,{;his, soriilesi;lons a:ire esfairlis:i:r,: ,,ri.1',r:r a conecr"}:r in e Tn ,ryjt,3y,,s fneeiiln 1-ror.i; i;he.,r tliig_i g{loe)s. Illiis e or.t.esl;oi:f_*::ri is o 4 as i.o tl;ie pr*Lrj.\e*l,s fo:, corisi6ning t,i:ei-:r sbocli. Upon r,diri.ee frcr;i Lj,e e.orrespondeni; Lile turnber is shipped. rt; isr ru.;,-r;r:llarJ* ici' ihe *,qr11signee 'ilo guaraniee bhe s*:i.* of tiie i.rrm}":er r'til;l:in six ir.+.rti;lL$, Lc sd.vise l;i"Lt-+.ii: Consignirli*rr'r;s o.:f.r Ofi;err r1.e)-ayed COnsiri.r:rab1;r en rOute and. cr:n'i-i.l;ion.s tr1a.J'il:rfirdg r;. gl"+et; ,i"t:ai. of'ben wnote cersoes a"I",j so1rl rr1-iir:: i;1ie -sri..ii1; is :..,1. i-ief;. Aild Llrerr &gair:L sot,rebimes t;he iu-trr'ue.i'iriflr,r lirive.bc'r i;c $i;r.rr"ud llc:: i,ir:nt,hs, irieanvil:iIe i;he stora6e charges sr"{} r.apidly gor.lsi;riin5 ilie pro:iiL. uLa-i'ker', Cceasionr ii;rr Li. is Ireeuiisl.r,y i;o d.ispose of cons-ii5nnen1;s l:l lr-reiion !n order io ill\r{r {'ur{;l-;.rr,, l"eisi:. Thls itrei;.}:r:cl oF aisi)cr:rl, ir; soil"i*i;i;,:osi r.r"-rri j,cr,fri,ti. when tiar.iteh *ondlj;ions *re exgel"Lerh, a::d. E't p-('sl-s*fli, thf:.r'r,) 8.1:.(j isr3e eonce:tlliJ i.rr i}-r:,ope that fr:l"lLo'y i;iiiu trnd_e slone. ;eriu .'rii-;, al^,''"Lr-,,r' lor C.isliosing of a carg0 sent- oil eo'nsig,urreni; i_s I6 per" c,:n L !irrs 1$ af rr tA vt - v\'-iJ.1 i:er. cer rt C, ri !ar/ YrA l:rnri''l in,r Lr: e.:1r'ii, ir,t' ! rr .:l .e,r;c.,. ?f t'" t.i.r1a'rr,(ra rq-.,r1 * _"- - t Ur.4 rL\'-:JlIUa '..:r lll::.r1 c r,r;t1lt1i s ri i arr Exirorting Dlrecl,, Dlrgct _ exi;r:ri; inE is ce l:r,L*::L o,rr Lr-r e. i ai"g'3p e;ii,eni; 'oy 'r,ii.nn ?.r;r 1;!"-ie Ij,S. in gene_rr.ai l;l::-* jra:,Ciyr:ocii are fot'e.igrr c,lurti; ri*c iixl)o("i-,cd i;o ii. lll,eairii:, er:i:enb i;::riri a.l,e U:e sofLtyooC irit,j.r reference to io.I'e1-gn cr:,.;"ntries. Direct ex1:rorting is il-re irleat. 11,sr. of expo-r'[ in* s.tj iL cr-r"us cu.i; 1;]ri: iliiC<l j-+;:r,ei:. nr:di. i.Lis 1-r:,O-li,L. S,rriie r:f ii:.e inl'3cr scr: 1.r", ?-.1,3n,]?', ;'.urril )i1.tr. ei.ai:I*ri.rons lI'* io ::er:.iize i;i:is ;!.iiing riy i,'g i: cco?"diylijiy. ifi:e1; are clcirrf i;l::.iJ esiai:rii-shilg A,.ii,'.r'"i"ec.ll o.lf l:;;; ,1:re nt:.c i',r-r.irlr'1 . Jci.,rL -suii. i"r:; agane ies. As cojrrrrel;i*n sroil$ ]'irji,rr;jr"" irr,i",1:r: ex1;o::i; j;r,acl.r tl:r 1"eoi snl-l--l-i"l:6 exi:er:sgfi- iir'rrlii {jt:.. ir:ii,g}r...itaFi; pnri, iii seeuring of'(ler:-. A f?w exi)ort ri j.l-;s llF \i* ccrr:hirir:ij. ,;o seLi l;l:e;it, oirl;p,ui '-i.r.r-*i;icrr;., :i::,i1i A j rrir.i, e jei)Cu r i',rl- 1,0 .f,,3.;e f i: i;q1 i;.i.* Seiiing ff r:l:r jLr: mgn11,; t.r"f-g i r: $:1,{;','l j, i, {.i ,inr:1t *a f,1,., {'l i c : .ir,.rr r-.r, lt j LiCJ."i UIt iff:CI"te"i y j,ieDnS it":'i*i' p:iorif it,. "i,; "i:,iC ,:..: s frr The u i, E;lp c:., u Ti.e d c . lii:e fil.ou-Ir oI rr_iils $r:;iiing -ii:.ei:. exi)orts thr:u a single $.se?"rey l:as s{i fs.rL. I:ac. r.'rut; iil,t;it: e.i:rent, u1:.ci elinating cut [1...r:oat r:nr*iretir;;iolr n:iir:rng'hi:e r,i'l-is anc1- i:ns;:er,iialrs s?ijii int,L*isified i;j:e C o.r r:i-, i.r. r,'ri'-,j..-i-S i;r_r d_i t* l; i $:JO*i(j,tf bh.eil, .::.r f.,i1rr.1-'i _: CLil:.. Ti:*r*, l:,iS .:ieuri con$i.ii,:rrablc ,f,iffe.r:enee of opinicn es f' Of nc i; i;.:* e;,1:.'1; i i; ).1-1 St -i rr."r r, rlr'? i !,. ,ri O C Ofnlf inai i Orr* f Oi. tc) -l r. a l; l:e r::i:: o r. b d-* , l,f J:r,:'L;l^'i:; {}. F, Thr i)1-i'31:ost *f i;l-r, coj,iirel:rli f.ui:eiids 1arg1eir" upon ileLi;ing sufiicir:r:l: rilr.tLbe.r ci::rii-1-s i,rbet.er;i;Lc1 irr ii;s fo:,,iL1;ion tii give" bhe.i} sol,e 1",<)1)]"rer.jl:ri,r !-; i *ri" -lo.r, ,;,1-:+ expci,L lri,r.1 i.r.1ess ar:i1 ,,,htts iirc.ke iO 5 tt drffleul'b for outsld.er.s to eompete., Two hmben export opganlzalions at the pnesent tlme ln operatlon on the Paclfle Coast. The Douglas Fln Exploitatlon and Export Company and, Tbe Hedwood. Expont Co. e both of Ca1lfornia. Tr.ading CompanLes. A great pet'centage of lnternatlonal trad.e ls eontrolLed by lmpontant tradlng eompanies y{lth an extemslve onganiaatlon ln the eonsumlng as well as the pnoclueing eountriee. These corr panles d"eaI ln a great man]r conmrodities and. most of them handLe lurnber, Most of the aonrpanies are fonoi.grg but some are enerlean owned,. lng The Lurnber Export Tnad.e. Tl:e question of flnanee rs always one of the most rrnpontant mattey.s ln conneetlon wlth the export trad,e. The terrns between saw mt1l olyner.s and t.he exporter are nearly always cash. Dnafts are a substantlaL -means of obtalnrng money a].so, all large banks having suffierent influence abroad-to obialn dlscount on the exporterls d.raft rnakes lt very convient. Finane Gnad.lng And fnspeetlon 0f Lunrber Expont. Disputed as to gnades are the most cormon obstaele to the selling of rmeriehn lumber abnoad. Conslder.tng tho fact that tbis eountny had more than 500 dlffenent speeles of wood,, lt ls nead.lly seen that the flxing of speeifie gnades ls a very diffieult matter. Speclal grad.lng r"u1es h^ave at tlmes been ad,opted for: the export tnade, d,Lfferdng-rmatenially fnom the d,omes.tlc gnadec in the amount of sap wood. alIowecl. sgme yoars ago a bureau of inspectlons lras fonmed., thls -was calLed the Paelfle Expont Bureau rnc. Thfs ls a sepaiate onganlzatlon from the lurober assoelatlons, They h.ave ?iatned experte who lnspeet the rumber cargos and. if th6y are up to * gna-der they lssue a eertifleate o3'tnspeetlon which ls b.uly Sworn to befor"e a notany public. The fee foi these lnspeettone is a flxed charge per 1OOO feet. Frelght Rates. Both steamshlps and saillng vessels are used exbenelveLy. Th.e pnefenenee usual3-y depend.s upon the freight rate. Tho frelgbt rate on a saillng vessel ls usually lees than on a steamer. tt takes fronr thnee to foun tlmes as long to get the lunrben to its destlnatlon horever whlch ls a serlouJ dnawbabk in sorne eases. of the tO*rn'age there:A'reirat'flUHb€r namely faeilltles in ports frelghts, of othen faetors affecting dues ln these portsr. th'en of loadlng an,J, ports of cllsehar[e, of obtalning retu::n possiniilties destination of lthe dargO, pont of shlppment. the ;;e;; *r,A tn" demand foi Lottoias,at quotlng the T[e exporoter. deduets the freight eharges lnpay these to is the lmporter lurnben as it is understood that Besrides ti:re eharaeter eharges. iriarine fnguranee. The cargo must be insured agalnst loss before the banks ane wlll-lng to [iscount drafts, bbcause their secu:rlty ls mainly ln the cargor The exporte:r usually talces out thts lnsunance, llcludlng an estirnate of the importer-s pt'of it. The factons determlnq the. dlffeirent rate of rnapine lnsuranee on lumber cergoes may be vel'y the rate of in vanlous cases. Some of the factons lnflueneing insuranee BPor (1). flhether the cargo ls shlp'oed in a steamer or bysalllng vessel. The age and ehanaeter of the vessel-r typerand the vessels sultab1llty for c81'$or ports of ship{2). fhe passale unclen contenrplatlon, damaged lumber hand,llng prnent and destlnation. Faeilltles for th.ere. condltlons rusrket i**go"s at ti:e ports of deetinatlon and deck on (5). The piace of stor:age of the lumben wbether to t'atee or und.er the d.eck. (Deck cargoes are usually subjeeted fnonr 2 lo 4 times hi,gher thnn rmden d.eck ltutilcer. ) (4). In ease of parcel lots the eomposltlon of the remainder of the eargo, (5). l4rhether the vessel is loaded to fuI1 capoelty' (rr ttre cr,se the ::a'be w111 probably be hlgher.) tnfs'ti* . (6). The type of h:vnber shlpped whether d'reesed' or r"ough. $hi;.rptr ng Doeumen'L s. shlpping d.ocunents must b6 attaeh.od f,o the d.raft that the expor"tei-nllhes to have Clscorrnted. Theso documenfs Lssued by the tr:anspor"batlon eompatries and are a for:rn of recelpt fo:r the eustoffier Itefects Of Pfesent System Of lviarketing. Fnom,the stantLpolnt of the millman as rnrell as from tha'b of the natlonal lnterest, tL,.e working of the present systero is fan from satlsfaetony. Perraanenb Foreign i'{ar}rets Not Sought. The lack of lnterest in permanent foreign markets doubtless aeeounts for a large propor:'bion of the defeetive sblppments. :) 7 thts has d.one gneat d.atnage to the Arnerlcan export lurnber tnade and the expoi:tens of thls eountny are norr beglning to neaLlze this and are doing all that they can to eorreet thls wsek:ese. Defects In ifanufaeturing Liethod.s. Among t}:re princtpal complalnts heard ln eonneetlon wltb amerloan luraber shlppments has been the critieiem of defeettve cuttlng and. seasonlng. iviore comtrr,eten'b fllers ancl machlne men sh.ould be hlned and the speed of output should be lessened Ln order to obtaln betten Luinben. Defeete fn Se11lng l,iettr.od.s Probabl;r the vrorst conpla.lnts made againsb Anrerlcan ltun- ber ln foretgn tnarkets have beerr irr negarcl to lneffltclent gnadlng or the lack of ed.equate 6rading rulqs raeogrr-Lzed by both par.tles. ft rnust be cmphas LzcC th.at rnost eonpetitors of Arnerlcan lwnber.men sell the lumbet" on a quality basls whlle the Amorleane ee11 lt on e eost basis. fn adCltion to tFrls hulber ls often sold unsorted. when it is not known wbat the exact nants of tlie lmpontor. &r.e. Coneequently lhg eonpanles have not stood back of-theln produet by I5r'andlng thelr name on fhe lurnber,. At present branding ls ynucf mone in vogue than a few years ago with the significenee that the produeer is no longeir ashamed of }:is products. Defents fn Shlpping jrietho<ls. As mentlor:ed. before rruny exporter.s fal1 to foIIow speeteat lons . rt, has hapnened tlia't in spite of the inpontens strict 'Conri ordens shtpptDg inslructiErns liave rrot i:oen fo11-oiv6d. trbcts state that loading shall t,ake place during ralnldany an& that bar.ges shall be eover"ed vrlth tarpaulir:s. It seefrs to be the maln fault with tl:.e Amerlcan exporte:r- thert he d.oes not eare so mueh alrout quality and spectflcations as he d.oes about obtalning im- rnecjlaLe noney. Then ioo ib is often founcl tr"et there is a shortage of lumber in cargoes. That is the the bill of ladlng d.oes not check t;he eargo in board feet. ]te all L,no# how we disllke and onJeet-to under weight our Thls is essentially the same thing as eargo shor"bages.Bul.ehaseg. fn Erarrssht.pruent . Lurnben shlppecl frorn thie eountry frequently suffers rhile ln tra-nsit, beeause no ine'bhod h.as been devtsda to lake care of ttre Iu:nben whlle iN is waiting for facllities ln the por.t of tnans,shlpment. Lurrrber. 8 Fault s 0f the Ltlddlemen. The absenee of 'brands has caused. dlssatisfaetiorr and. eomplair:ts -',:ave so;ile in frequeni;i_,r f::om t;his or,lgin. Complaints regar'JinE qufllity are also frecluer:tiy mad.e, and it LLss been reporteC tiia! sorlre export rr;er.cl:ants buy one quallty and. eell lt as enother. fl:Ley har,,e not only tarni:ered with gr.ades but also wlth speeles. Tl:ls does not of course appiy to reputatrle conserns. Lack Cf Responsihillty, The 'luestion of r.esponslt,ility naturelly eomes up ln a good manJr cases and ser'iot-is corirpleirrbs jiave been heard- frorn lmporb{:I'ri ihal, [he exporbers on thig side do not always enjoy the best re 1:utat ion Ln l;li.i,-; :"espect,. Cl-a funs A:lici'icl-i't exitor'l-:(ir:'ri h*ve beerr severely erltietzecl un"'iliilirrgrtess to seb1,;ie ciaims. Th.i.s.r unlirillingness has hadfor lts orlgi.n - (1) To a slight extnet, ln shar.i: prael,ises of a'few ext;ent, in t;he rnisundenstar,dLng th.at, arre spt ob an"rise ff."I:en btr-yer e.nd se-t_lerr are far d,j"stant f,::orn eaeh otlirlr.. (g I fn the actiiiitir-:s of pr.ofessir;rr.al- cornpl ainer,s or treiricannerr'sn whose guilt is eviderrb but hand to prove. Disadvaiti;ages 0f Conslgnments. Ccnsign,,ients have s Cetr;oi,alizlng effent upc)n the export ind.ustry very sitrtillar to our 1;r.er:si1; cer shipprnents corffron in rlispossirrg of lu.nrber in tli.is count;ry, These bbirsilgnrilerrts also resu-it, in severe losses Erb tirnes. trrefects In Buy:Lng System. rnrpo}bers oft.;en b.ave not suff:i.cien'l, knolTleclge of prevai-1-iilg condi'Lions in ti:.irs ur::r:.nt,r,r to speeify what dlmenslons bi:ey ,,yent. Th.ls ea.siJ-y causes u_niirr:it;ed compl"leations. .nrney.iean exlt{rr.t er$ . (2) To a mueh gr'ee.t'rr Excessive Proflts Of frrrportet'$r It is not gerrel'al-l-;y trcnowrr that hiie prof:it 6n Arnerican lu:n?:er ln foretgn countrles oi::Lairrecl'hy importer,,s is two and three tirnes ss great a.s o.bhor. ir"rrported. liu'r,rtrer. This excess profii is rri;t.r,lJruteC. to the fact tl:.aL otjrer eountriur; sei-'i- tlic;ir ']-utni:er ifloi.e ir: 1-rE:yo6i 1ots, Anierlcans i:ave le.cked the ad.var:.1-ages of d-'Lreet stearisl:iil ilnes, and. ti:e irnportens Iisl" and. expense itas l-,een offseb'ny srri-rsi:c,rr-ent irigirer prlces to bl,e eonsrilrreJ. . o Dlsaclire.ntages Of Broker $ystem. TIie Europggn rumhen l:r-olrer.s depentl entirely thelr reputation vrhile the Amerlean br.oirer hi.s not r, gooh upon rlputatlon to start wit,l: d.ue to the eharp praetlses of the ear.llei. e*"*ieun brokers. The Ainer.iean exponter can tli.er"efore d._:pend to a mueh glgaten extent upon the forelgn brokers thair they can upon us. This is far frrorn er.ed.itaLrLe b6 ttie American expoi.t industny, Developnent Of The ExSrori; Lrunber Trad.e. some 1tryg1legn oxporters have gone a long way.'to-werds solving_the diff icu.lties of tlre expon{ lumber tiade- of the Unlted Statesr- !Y! eyep. yet we are a long Says from e&tlsfactony cond.ltlons. Numerous things ean be d.one-that wlll ara [r:eaaiy " ln developlng the export tnade of thls eountry. In il"re-past F.o.B. l:ave not increased, as they -1:rices should.- Regard.less of tl:e faet as to whether on not our export volurne has lncreased the F,0.8. prlee should. Thts lnerease can be brought about by ( 1 ) . Mol"e }aref,ul manufactllro r i,,{ore efflelent methods er6e neeessary in manufaeturing of lumber. The lompei;itor,s of the Amerlcan iunrher inaustty exereLse the greateet eare to avold mlscuts and, mismeasureynentg. witir the deereese in stumpaserthe manufactures of countny plpp their" iyasrofuL meUn6as. At;;eseht only lll* of a-tneemr,ist ls uttltzed for }.unben. rars Liaves iluerl room ?sr for inprovemeni. (2). Shlppment of nough lurnber should be done away wlth as mueh as possible, mainly "bo eut d.own freight rates and.- stonage space. Betier Organlzation Of Exportlng. Proper {nytng of lurnher" ls of vita} irnportance. The desire fon lmmedlate netur"ns is la:rgely nesponsible fon most gne-en shipp::nentb. Inth a better or[anizabi-on and. inspectlon lumher exports, t,hese dlfficrrlttiee-wirl rangery-ne--oveneofle. of Method Of Saving Fr.eight Ratesr At tiie presenb tlme tiie saving of fneiggt on luraber car.goes 1s_espeeially l*rportant. fn f,frls conneetion if clear"portlons of the luitber are eut orrt'cefore the fu:aUer is the sntppea there will be a savlnE" Bv * the- eleminatlons or rne*[nt changes on defectiveportions. . BranCIng. The inrpoftance of bi-'anding lumbe:: has been reallzed. fon many years by.the_mogt experlenced lumber exporters of the oorfa, who have d.eveloped. the system of brand.ing on'r" artu"*rrr" scale. 10 in Lhis count,ry bi.LePe iras i:,een a few expot Lers rho have branded their iunber for a gCICId titally jrerrrt*i, ?:ut bhis is rrrore tiie exceptlon than bhe r"uie. A urirrer" ir,ysnS- shnuid, tndicate: (r . Tl:e ]'tB.irie of bh.ep:'orlueel.:. (z . The speeies of i,rcrld, (3 . Tl:e gnad.e. (+ . T,,'heti:er" ma.nufaet'.:.r.ec1 o.n rough. F.Jr ingi:anee a jrrand such as ,s+ D (ne*1 wouid ceitry tl:e folioi,ring i.nforina.bion: 14I = T,lashlngton Lulilber" Cor; + = !.ro ? e1ear.;:ft Douglos fir:; ar:Ld- L,ii.e red" eolor woulC indicate tiie l-urr,Trel- es shipped rough. A brand sueh as lYOD (3l"ue ) worrld be iril;er:prrderJ as f ot1c,,ws: jif .: Ta shingt'on Lu-:r'oe Cor; Q r iri+l.charitable; D= Fouglas f ir"; airrl Lhe l:luc color would ind.lcate pla:r:rerl lurnber. Advontages Of Brandl:eg. (i). T.ne neiiie of bl:e prcd"ueer wou-ld stund a.s a guariantee. (2)' fi ircuid i:revent enli of 1;3:e vr,rricus mi,ddlen-nen, importe-,:s c'::r1 ,lyhoieselet,,$ f.r.o;ri i;amper.,ing with the g:.ad.tl, (l',). fneilear,ing Filrrj{13l"ers would pi:event s,ltrs,t,ihul,ion along t,his ltne. (4). Shoning lrl:etiiec bl:r: iurn-ber wss rough or planned ls a riieans of .1ri'everrLing i;:ir1;or'fers froirl 1-;3-erriii'rg exporters unjustly. (S). Erandet-l- Iu;nb*;:' eom:nands a higiie.r, 1.rriee, because itis guaranieet tl:e sai'.ie as a gr:oC :nahe of sLoes. A Cireebor'-v r.>-f ?:.ranrls iroul.d i;e of gleat value tothe ir.rfoptei', Tiris in realitlr lrrr,rid- 'i:e e r,e,fer:.ence iisb of sawmllrs in this counb;r titat a.r'e ni1-1in6 to baek the.ir producl;s by their. Ilaiile, llxlI)orL Gre'ding Ruies. One of tl:e keenesL neod,s of Lhe expor,t indus-br.y is cle,finite\ sel, of graeling ruler*, rt is an eleurentarlr neeessity fr-"r' tire nianufaeture-r to r:sfablisl: r.u1es for gradlng export tumner that lviii suit iiotl,.liis custoiirs!: arrd iiimself . To ostablish thes rul:,:$ close eooper.abion b,e"Lweea lmporte1' and consiltriei' e.'r:roed and. ex;;ot*ter and rnnufireturer is $. a;"r- s ol-ui; e 1y nee e s $ I rilv-. t1 Arbitratlon Of' Clalrrs'. arbltrato:r in a fonelgn fleld ts essentiai. of !i:,e perfeetion of the exfrort trade,, solre controvietes,,riil arise arld a man on hand. ean settle thts with trut very 1lttIe tnouble soinetirnes Deposi.Ls 0f Lumber In Fonelgn C,ountr:les. It ls not neeessary to rsfer exeluelvely to oun corlpetltor"s to prove tha.t liand.ling exirort business with personal represenbatives in foreign countr"les is th.e most shtisfactory and effielent nethod of sel-Iing luiuber. Then too t,iris would do away crith the praetlee of eonsignmenbs to a large exterrt a.s eondibions abroad rrould. be better i{aintaining e p'enmanent Regarcll&ss known. Advertlsing. AdvertisJ-trg is an efficlent ai:d ef,fective way of putting any forrrr of product befor,e the prrblic eye and the eye of the llrorid in the case of bhe ex1:ort irrdustry. So far. our lu:nber products have nob been greatly ad.vertlsed, irr forsigrr countries ancl most of our speeles spo uDknov,rn. Cypress is perh.ap's the best advertlsed, abnoed. of aLl our speeles, then Redwood, oale arrtl. $outhern ye3-1ow pine Conf;r.i.sion There ls much eonfu-slon fn lTames Of Wooils. ln the deslgnatlons of various kinds of lwet-;en. Douglas fir" (Fsed.uotsuga taxlfolla) is eal}ed oogggl piner.Bnltlsh columrbta 1rine, Dougfas spruee, ye1low fln, red f ir, western f ir, Tlas]ril.gton flr, Ptrd.get sound-f tn or pine, and west coast on northwest fir. It is elear hols confuslng thts r;rust be to l,lLe forelgner. Shook Tr.ade. At there is a. gr.eat de:rsnd for shook stock thls is a vel,l' likely fieicl for exporl,ers to devel.op. Fonelgn Goirpetitlon fn Tl:e Lurnben Trade. fn al,lrost every t'i'LarkeL Arneriean luraben meets rlth coillpetition wlth lu'rtlcer: fnom other countr"ies. The s'bnor:g eomtrr,etitlon th.at the u.s. faees in for.olgn mankets frorn varlousLy equil:ped eountries - sone ltke RueelI with vast reservog of tinr?:er lrndeveloped and others like }Tonway with d.isappeallnq- resources, gld highl;," developed. menufaeturtng' and shlpptng faeilitles - with bheir newly aeclufu"ed eLbntness to .blre neoessit;r for a 'bhoror:,gh orgar:izatic,rr 6f tfre Auen!.ean expor.t 'Lr.ade bh"elr srs our" chief eor etitiors. abroad. and preselr"L t2 Sc and irravie and. Ininiend . Tl:e foresl, pt'oduets r:f rrothr:rn Eu"rope are irr lrteny weys pir:e ( Pinus s]rlves'h ris ) ii:f erior t6 jm&r'ican iru11"]:er. S*otchr:est $tericiin sr:ftwood.s and and du:ratrle e.s the is nct aij str:ong selCo:li can t;:e obtained. irr long elear lerrgths. To offseb t,his d.iriad.vanbage .rnolle effielen| nethods of itanufaetnring are used ancl a i:igh" grerd.e of produet is tu"rned out. fn tl:.i$ u/a:r prie(js ean lte obi,,ained. on a leve1 ltith our producte to a rmrch grea'bet' extcnt tlie.ir rroulC crbherwise result. Tire aCvarr'i;eges of Scand-lnavion and. Ftnnish exporters of l-urnbev. are as follows; they ha.ve superiol: shil:lplng facllities 1;h::u- nativr, owned tonna.ge, effieLent rnat'}<.etin-g sysi;erns, coop€fabiOr: ai"nons exporbers arid. iir,;-ro]'t,ers, nearness to the pri.nclpal iu,-nber rna-r.kets of ilurolre and a established reputation. Bussia errd Siberie. 0n a-cc{,u}-rt of -bheir enoli}r1ous tiirrber" resou}ces Russia and Slberla will laten prove io be the keenest ccmpetlbors of tlie Ainerican lurrfr:er ilrdusLr,y. The foresb weslth r:f norlhern Fussle. comprtses 243, million aei*es of untouched foresi iands. Russia has eonsider"able conlfei'ou.s forests but al$o v*rsI h.ardwor:d. forests contposed rna.ini.y of oak, pop1er., e7-rrt, and. ash. I{ortheasteirn Asla. Iieen competiticn :riay i::e eneountened. in the futur.e f:om ncrttr eastern Asia. Both softwood"c and. hard.woods are found ln thls neglon. The laek of transl:o,:Lation fae i-l-ltles is the naln obebErcle to l:e overeo:ne i:efore the elipor,us of thts region will serlously h.andieap 'bhe Ar*ei:ican expor.i lur:*:er trade , Canada. Littie need. be sald. ebout the forest resou-rees of competiticn wi-uh t,he Ar*eriean exponL trad,e. anC the1r' Canad.a Canada trad. fewen species tl:an the United. Statee and of the inost valuable Amerlcan specles are not found sueh as long leaf plne, eypress and nedwood but they h.ave great quantlties of spruee and. $r:r:F3}as fln and we will d,epenC upon them very rnuch in the future for our sup.r},y. Canad.a rali;hc no! 8.s olC in the lr::Tibering game a.s the ttdited Siates D.llc as far ed-vanceC as we Bre at the present and i{-e {lay do rryel-i to looi,, to.bhen: fo:r" cxarnples in a gor:d lna.ny of bliej.r po1leles, irenJr 15 Ar-is1;:"r1 is., south Ainerico, i,,i.)d other Oountrles. in i;ii O.rie.;:bI *r:ri*yixa::: J:a::d;vooCs nnd, solf ,,7ooel.s.rieet co:rli:ei:iurlr ;"/i'tl: i;lis h.nf.:ilload shiiri_i,*tl" f"l:-im .rt,usl,:,eLia and. tlre Pi:i1li:g:i}les. nsireclall-y is Li:is se;:,ious wiLb i:*gar",cl Lr: the Ai.r.':r-'7.'8iif;n e:'";;rii:'l,s J:E'Ll;eg'* s.r.* ga'd'urn;rreiir;ai ilLrsf**i:r,:d s]f3bsjii-.l,]ini;hisgivei:exr:.:,ii*i,iI*o,ri.*:""-- ,.1 south Aneriea'is not, of grea"b eoncern becau.se i;heir F],'; lni,CCitssab1rc nnC itlnnS;:;or,l,1;1On is ia.c]iJ-rrg. i'+[iOl-tf'eCS Tliis ssJrig ie.u.i'c hoid.s l,:,iie+ '';r-r 1..".*x:i3() nnc ceni;relA.rre"r'ics, Tl:ese cDL,:i.!,i,':.eS wiii be iiltt).t?a in Ll:.e nAtUt"e of irn_ 1:ci"ters l,hni: .:xpo:o'te:L.s s]-ij br;gtr. Lr-:-,,tbe.,:' n,^r'nr' r:o Trad,* c,f Ti:e Fut.r-l3,e. :,1.i-1-e it is nrna;;q dsr:ger:crils to rrrekc s.peeifle ;]:,c'? 6..v"4. n 1 n .!a1- .5,ra'f Cilr,."1"ar;r e:,u.ri:ii.i,r ri}t,..:rr, e"iOng WhlCh bl:.* ii;:,it-:e.1, ir:rCr_iStfy .l:c i:::;=ll"r. 3ii1 [:]o .l.i;;i'i;ci' c,';rjcl.l, l;::si'lr: 91.ir(l ric*+;ined io duv:'l c,p cg.n in_ f,ieatcd, begining r';Lth i;h.e foundabiln of the fnaouirS:, 1he foyes_ts. llorg'1.53 .llir has nirt,r:dy $urpass€id. scuti:ern yeLicrr pine - expr:rt qurnt lt_v. if i;!:e 1:r,csen"'u- rate of c,;i.t i f ng" c oni;1nuos il stanCs of soui'l:*rn yeJ.loi,r pine ivilt-".i:e d.epleted. -Y1",:olj-1':l:i:1 :-.i'1 i5 Jrt;ai'$ anC 1ti::.e eX':Optg,'ti.I_i CCli.i6 hei.e aftef, f1.clr.; SeCOnd. alrC Lhir"C ;ro;1';h stEyrds. Yiti.r iJI.Oper. Ca-lj,{:: Of .l:he g.r.ea.[ fc,r,eSt feSOut.eeS Of t]ie eoun"br"y, ''vi';h -r'es.h.r.icLion a.s tr,;5ir:i:ting, and iri;h;;;ensive:"e_ f {,1"}r,ta'i, i cri, lrid+ a?iea s ai"iiro3r; ils,,iess*ior eii}rb,liii1g else car: he r,rn*"e-1-;o 1:ir:1d a 6r,e*.b a:'lrl sieadi,- f]-o,.,' of fc:re[t prEaucts. sireeden has 'ireen n*.tr!:ir.Lg expr:-rl i-.u.;ii:ei, for. eece*isr-"ana sr:e owes 'l;s li.:1. ;vi5e i:uii.c;. 'rhs fael;- i;l,::i"a.l; ii Lsr r:til-i liaii-eover.ed ,vith gj.,e fot"est,s *,1:a1r l,curi"eCi: ss lt:r:,r,.il.io€ji; enduning and-.rost valuable ssset. Tl:e :'ie i:i6 p:'i-etS r:f -'i-;li'rih*:t" wi.-i_l_ e\re?rl-uA- 1y fei,r.Ce ,i,he greater iiiii;LrcLiar of r;h* hl.El*, i,:o?:.er j,1arr;-?a;iur.:irra^ atrd.bei,1;er{]rge,nl.asl,iorrr:f:iiar.ir-6ttr:5. es.*e.fu1 Th'e co,, specul*tioi: h*s a.bour, passed and ?{. sturrrpage h*e , 1:r'ofi.t,s r,ltrl. i:e i.,;t,i;t.acbo,r. f],t:.:i -1,i:i{, r_u_rrr.rey. i:usiyiess rraini;r by,scieni;.if ic riianagr:]ii*ni;, w"'hen- lt- in L;^-:u ne{ri1 futu.'s vre ;iln; 1*cri; .io::. a g,r€r; b iili:,z,overrren-b i:: oi-ir' iii;:fu::". irdusij';.- ii1 ;vr,:u j-ti n:ii i;h-,is Linre is noi; very fnr cisb&rii;r l-l:,::r'i-,1-rc r{;,ref ican. L.o.i;ll;: fr;ii- ext,errt the yalUe Af hi s .^r,i',3 i,'l; g ,i r:r tl- I r' . ilcC -r.eniiaes 0;,;(.: L.h.C .f r:i"c;i;f.rSt nnt, iOn Ln 1:"r:lfuc:" eons+]:v5Li-on. 'r't is *Ji"n:."ic1,,:.r.isLi"c of ;l:ie Ayner tcans not 191 an"yi:,hing wfi:a}-J- Lhe:ir, !o lny great ext,ent 'trub r;il.Len tl:"ey it, finarlly dn h+qin bo iro:'ry abou"h iteir fasi: dirtishing lr;rrherraesource "i;he i:r'oi:lern wl1i be cr.ri.iclil;r and rffic.ieni;if soived. f 'l.l: !)