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The extent and resources of Ontario, with reference to what has been and is being done to develop those resources. Ontario's size in comparison to other parts of the world. Ontario as a business proposition. The people of the Province as Ontario's shareholders. The extensive and varied business carried on in Ontario. The assets or capital of the corporation, consisting for the most part of land, waterpowers, minerals, lakes, rivers and forests with their inhabitants. Direct and indirect benefits to the shareholders that come from the mere working of the capital, with instances. Realistic expectations from the land. A policy of forcing development and use rather than of revenue. The one part of the Provincial assets that has been worked for cash dividends--the forest. The policy of exploiting our timber lands in Ontario and how it has differed from that in the rest of the continent. Revenue from the forest. Threats of a material falling off in this revenue. The benefits of proper management of this resource. Out present timber system as a product of evolution, a gradual development. Ways in which the system was found to be weak. The speaker's part in 1896 of recommending to the Government the advisability of separating non-agricultural from agricultural land and placing the rough land in reserves to be permanently withdrawn from settlement and kept for the purpose of growing timber. Difficulties arising in terms of old licenses. Endorsement of the recommendation of forest reserves by the Royal Commission on Forestry, and subsequent legislation. Predictions for Ontario's permanent Crown Forest. The working of this immense forest in terms of production and employment. Possibilities in the way of cash dividends, or Provincial revenues, to be derived from the Permanent Crown Forest separating the two agricultural districts. The value of white pine. Costs of management and fire protection. The lack of well-trained foresters. What this system of the Province towards the exploitation of its forest wealth means to the future of the Province, and to a guarantee of the prosperity and therefore loyalty of the individual units making up the Province of Ontario, the larger unit which forms a part of the Empire.