A Letter From The Publisher, Apr. 12, 1943

To answer some of the questions our subscribers have been asking about how TIME gathers, verifies, writes and distributes its news.

If ever a magazine was not born with a silver spoon in its mouth, that magazine is TIME. In the whole U.S. in 1923 we could not find enough faith in the newsmagazine idea to scrape together even $100,000 working capital. The editor remembers the first office as "chaos—but not even very much of that." The editorial budget for the whole first year was only about half what our editors spend every week now. And...