A Letter From The Publisher, Jan. 19, 1948

Each year along toward the end of November the senior editor, writers and researchers of TIME'S Business & Finance department begin worrying. The time for their year-end review, which goes to press the first week in January, is at hand, and they are faced with the difficult task of putting the year's events in the world of business in their proper perspective. It is a long, exacting, formidable job.

This year's review of Business in 1947 (TIME, Jan. 12) was the most extensive TIME has ever run. A.D. 1947 was a critical, confused, difficult...

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