Note Footnote 3: — Chapter VII

Over against this policy, stands that of the United States Forest Service of increasing the area of the National Forests in order to conserve them for the public welfare. The pity is that the government ever let the forests pass out of its hands. Only forty years ago seventy-five per cent. of the timber now standing was publicly owned. Now about eighty per cent. of it is privately owned. In the meanwhile its value has increased anywhere from ten to fifty fold, according to locality.3 Some large corporations, however, like the Pennsylvania Railroad, the Kirby Lumber Company, of Texas, and the International Paper Company, have entered upon a policy of conservative lumbering.