. The valuation of American timberlands . eii CENTS 4 CENTS PER CUBIC FOOT 2 CENTS PER CUBIC FOOT $ PER M FT. $ FER M FT. ,. 1820 1840 1860 1880 1900 Fig. 14Comparison of the cost of li\ing and stumpage prices. 1920 212 TIMBER VALUATION most of us to realize. We may have seen one kind of lumbervanish from the market because it had been overcut but therehave usually been competitors to take its place. For example,eastern white pine is very difficult to secure at the present timein large clear boards but western silver pine and sugar pine areessentially the same in quaUty and obta
. The valuation of American timberlands . eii CENTS 4 CENTS PER CUBIC FOOT 2 CENTS PER CUBIC FOOT $ PER M FT. $ FER M FT. ,. 1820 1840 1860 1880 1900 Fig. 14Comparison of the cost of li\ing and stumpage prices. 1920 212 TIMBER VALUATION most of us to realize. We may have seen one kind of lumbervanish from the market because it had been overcut but therehave usually been competitors to take its place. For example,eastern white pine is very difficult to secure at the present timein large clear boards but western silver pine and sugar pine areessentially the same in quaUty and obtainable in large this substitution continue indefinitely? Prior to theCivil War the New England and Middle states were the principalproducers of lumber. Then the ascendancy passed to the LakeStates without necessitating any great economic readjustmentbecause the species were the same. It was simply a questionof paying a greater freight charge. But by 1900 the southeastwas cutting more than the Lake States and by 1909 nearly fourtimes as much. This meant not only a longer haul for northernwood users but entirely different
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