Sweet bay (Magnolia glauca)
"Magnolia glauca inhabits at the north, deep wet swamps, where it is associated with the Red Maple, the White Cedar, the High-Bush Blueberry, the Andromedas, the Red-berried Prinos, and the Poisonous Sumach; in the south Atlantic and Gulf states it is found along the borders of pine barren ponds [….] Magnolia glauca thrives in rich and rather moist soil, and is found to grow more rapidly and vigorously when grafted on Magnolia acuminata than it does on its own roots."
This illustration and the description are from volume one of "The silva of North America" by Charles Sprague Sargent, 1841-1927. (Published by Houghton, Mifflin and Co., 1891-1902)