This study examines the process of capital accumulation at the level of the business firm, linking it to the macro-level of the world-economy as explicated by Hopkins and Wallerstein. Focusing upon the timber industry in the nineteenth century, and using primary archival material, the work analyzes how capital operates in the resource sector in the world-economy. The purpose is to refine further our understanding of capitalism as a mode of social organization and production, and in the process, refine contemporary theories of social change. In terms of coverage, the book addresses the timber industry over the course of the nineteenth century and provides an historical reconstruction of that industry. Its primary focus, however, is on the main features of timber and lumber production as a process of capital accumulation. The study will be of interest to scholars of social change and economic transformation, economic history, and political sociology.