I first met Gifford Pinchot in his office in Washington in 1905. I was not especially interested in forestry, but the Forester was so interesting that I listened with increasing delight to the story of his work. I noticed that as an administrator he had a grasp of detail and a mastery of method which are not usually found in men who have had no training in large business affairs. I thought the secret of his success lay between love of work and sympathy with workers, which gained him the devotion and enthusiastic coöperation of his staff. It is, however, as a statesman rather than as an administrator that his achievement is and will be known. When I first knew the Forester, I found that already the conservation of timber was but a small part of his material aims: every national resource must be husbanded. But over the whole scheme of Conservation a great moral issue reigned supreme. He clung affectionately to his task, but it was not to him mere forestry administration. In his far vision he seemed to see men as trees walking. The saving of one great asset was broadening out into insistence upon a new test of national efficiency: the people of the United States were to be judged by the manner in which they applied their physical and mental energies to the conservation and development of their country's natural resources. The acceptance of this test would mean the success of a great policy for the initiation of which President Roosevelt gave almost the whole credit to Gifford Pinchot. There is one other name which will be ever honorably associated with the dawn of the Conservation idea which Mr. Roosevelt elevated to the status and dignity of a national policy. In September, 1906, Mr. James J. Hill delivered (under the title of "The Future of the United States") what I think was an epoch-making address. It is significant that this great railway president opened his campaign for the economic salvation of the United States by addressing himself, not to politicians or professors, but to a representative body of Minnesota farmers. This address presented for the first time in popular form a remarkable collection of economic facts, which formed the basis of conclusions as startling as they were new. Let me attempt a brief summary of its contents.