The abstract idea of utilizing that which is at present a waste can play
no important rôle in such activities, the successful commercial outcome
of which must be based on the three fundamental factors--market or
demand for product, satisfactory raw material, and cost.

Since hemp hurds are to be treated in this report as a raw material for
the manufacture of book and printing papers, the qualities, supply,
probable future, and cost of the material will be considered in
comparison with wood, with which it must compete. There seems to be
little doubt that the present wood supply can not withstand indefinitely
the demands placed upon it, and with increased scarcity economy in the
use of wood will become imperative. This effect is already apparent in
many wood-using industries, and although the paper industry consumes
only about 3 per cent of the total forest cut, it is probable that it
will be affected through this economy. Our forests are being cut three
times as fast as they grow, and as wood becomes more expensive proper
growing and reforesting will receive more attention. Thus, naturally, a
balance will be established between production and consumption, but as
this condition approaches its limiting values the price of wood may rise
to such levels that there will be a demand for other raw materials.

The use of waste paper in conjunction with chemical wood pulp has
increased to enormous proportions, and it is probable that the increase
will continue. Although it is a cheaper raw material than wood, it is
reasonable to suppose that as the wood supply decreases and the price of
wood pulp advances, the price of waste paper will advance somewhat
proportionately.

In view of these conditions it is advisable to investigate the