The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1909-12-27
Why Timber Owners Should Not Cut
From Business Point of View


Editor of the Banner The advan-
tage in the preservation of our forests
from the aesthetic and public utility
point of view is now beyond the need
of discussion. 1t remains to con.
vince the individual landowner of the
direct benefit to him in allowing his
timber to stand.
The sole object now in the cutting
of our forests is to convert their
stumpage value into ready cash:
since all of the land desired for till
age has been, practically, already
cleared.
Money is worth FIVE per cent. We
make the point that timber left to
grow is worth fifteen per cent and
submit the following as proof of the
assertion.
Money at interest is supposed to
double itself in about fifteen years.
The stumpage value of standing tim
Der aside from its increase in value
from growth, has doubled in value
during the last eight years and the
prospect ahead is fully as bright.
Here, alone is ten per cent. No one,
| think. will question but what the
average annual growth is, at least,
| five per cent. This gives the desir-
ed result of fifteen per cent increase
to let our timber stand.
The increase in stumpage value of
course applied to all woodlands, ma
tured or unmatured. AS regards
growth, the yearly increase applies
to quite all of them also; since the
4 qmnnnt nf uirofn
touched, is, comparatively, very small
and with that, even, there is a ten
per cent gain to let 1t alone. The
fact should be strongly impressed up
on the minds of all landowners that
the growth in all live trees is proper
toned according to their size. Every
| live tree, suitable for lumber, forms
a new ring of growth, each year, UP
ON THE OUTSIDE. Now the larger
the tree the more productive the new
ring of growth, not only in quantity,
but also in quality; since the SER
yiceable clear stock, which has dou-
bic stumpage value, Is confined al
most entirely to the larger trees.
Hence we should not cut trees simply
| because they are large Decaying
| trees, and trees of minor commercial
value which obstruct the growth of
those more valuable, it may be well
to cut.
The danger from fire to the wood
lands of Vermont is now almost en-
tirely eliminated; and does not ex-
coed the danger to money at interest
from default of payment And even
lands where there is only a prospec-
tive cut of timber many years ahead
now have ready cash value either
for sale or mortgage; and this value
is now, in many places three times
what it was eight years ago.
Money at five per cent interest is
supposed to be taxed to its full
amount Our standing timber as a
rule, is not taxed to over one half Of
it's stumpage value; and the senti
ment is. strongly developing; in fact
the plan was strongly recommended
in the report of our last tax commits
sion, to remove all taxes upon stand
ing timber until it was as an induce
ment TO the owners to allow 1t to re
main as an asset to the state fol-
watershed and scenic purposes.
The indescribable charm, the beau
W, Iue SIdHueuI VI our loTSSlS, among
which ! have spent the happiest
. hours of my life, from early youth
up / say nothing about. This is
sentiment" and ! must here let II
alone. But when death visits my
bedside. it is among my chief ambit
ions that | shall feel the inward con
seriousness that, in whatever else ]
have failed, I have done my Level
best to insure to posterity the health
full and life giving benefits of our
grand old woods
NJ. ]. Hapgood
Peru, Vt, Dec. 20, 1909.