as our forests produce. _Consequently the demand might even fall
off three and a half times and still consume the product._ And
the forest producing area diminishes constantly. Little as we now
consider the possibilities of food famine, history shows that nations
rapidly increase to the limit of their agricultural production
or beyond, and we must reckon not only on our own increase but
also upon immigration from, and export to, nations whose pressure
upon their production exceeds ours. It is certain that land now
considered too remote, rough and poor for agriculture will be put
to that use. We know that other countries do not to any considerable
extent devote land to forest that will grow food crops at all well.

ADJUSTMENT ONLY QUESTION OF TIME

Consequently it is safe to assume that within reasonable limits
the consumer will be glad to pay the cost of growing timber when he
is obliged to do so. It is also to be expected that the community
will desire to maintain a resource which employs labor, pays taxes,
and conserves stream flow. Therefore, the price of lumber will be
governed, as the price of every staple commodity is governed, by
a cost of production including reasonable profit by those engaged
in the several stages of the process. That it will include the
growing of new timber on a sound, profitable basis is proved by the
history of other countries which have undergone the same regulation.
This, after all, is the strongest argument with which to answer
the skeptic who, on premises and judgment of his own, doubts the
above conclusions. We need not claim greater prophetic ability, but
have only to make the undeniable assertion that hindsight is better
than foresight. Nothing demonstrates economic laws so irrefutably
as experience.