The Government's Green Light for Land Speculation
A federal ruling confirms that 'investing' in timber land without living on it or using it is perfectly legal, sparking relief among speculators.
Many who are awaiting patents from the United States government on timber lands, under the Stone and Timber Act, have become alarmed over what they considered an adverse ruling against persons who entered the land simply for speculation. In California, where there are many such persons, the excitement was great as many feared that the money they had paid in would be forfeited. To clarify, Charles W. Strother, an attorney at Yreka, California, wrote to the government regarding his case. He stated plainly he had no intention of living on the land or making personal use of the timber, but intended to hold it until he could sell to advantage at some future time. The reply from Acting Commissioner J. H. Fimple confirms: 'If you make a satisfactory showing that your entry was made for your own use and benefit and there is nothing more to impeach your good faith than the mere fact that you made the entry for investment, with intent to sell the land at some future indefinite time, this office holds that such an entry is not made in violation of law, and should be passed to patent.'
“This office holds that such an entry is not made in violation of law, and should be passed to patent.”
This ruling highlights the early 20th-century shift toward treating public timber as a financial asset rather than a homestead resource. It echoes modern debates about the financialization of real estate, where land is held by distant investors rather than those who intend to inhabit or steward the land.
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