thing complicated about it. It's just a question of cutting and piling
the tops, and--"

"I know the methods advocated," broke in Orde. "But it is not being done
except on Government holdings where conditions as to taxation, situation
and a hundred other things are not like those of private holdings; or on
private holdings on an experimental scale, or in conjunction with older
methods. The case has not been proved on a large private tract. Now is
your chance so to prove it."

Bob's face was grave.

"That means a pretty complete about-face for me, sir," said he. "I
fought this all out with myself some years back. I feel that I have
fitted myself into the one thing that is worth while for me."

"I know," said Orde. "Don't hurry. Think it over. Take advice. I have a
notion you'll find this--if its handled right, and works out right--will
come to much the same thing."

He rode along in silence for some moments.

"I want to be fair," he resumed at last, "and do not desire to get you
in this on mistaken premises. This will not be a case of experiment, of
plaything, but of business. However desirable a commercial theory may
be, if it's commercial, _it must pay_! It's not enough if you don't lose
money; or even if you succeed in coming out a little ahead. You must
make it pay on a commercial basis, or else it's as worthless in the
business world as so much moonshine. That is not sordid; it is simply
common sense. We all agree that it would be better to cut our forests
for the future; but _can it be done under present conditions?_"

"There is no question of that," said Bob confidently.

"There is quite a question of it among some of us old fogies, Bobby,"
stated Orde good-humouredly. "I suppose we're stupid and behind the
times; but we've been brought up in a hard school. We are beyond the age
when we originate much, perhaps; but we're willing to be shown."

He held up his hand, checking over his fingers as he talked.

"Here's the whole proposition," said he. "You can consider it. Welton
and I will turn over the whole works to you, lock, stock and barrel, for
two years. You know the practical side of the business as well as you
ever will, and you've got a good head on you. At the end of that time,
turn in your balance sheet. We'll see how you come out, and how much it
costs a thousand feet to do these things outside the schoolroom."

"If I took it up, I couldn't make it pay quite as well as by present
methods," Bob w