A Letter From The Publisher, Sep. 1, 1947

Twenty-four years ago TIME'S editorial offices were in a remodeled brewery at 236 East 39th Street, Manhattan. Our editorial staff consisted of about six full-time editors (average salary: $25 a week) ; our working capital was touch & go; our circulation was about 25,000, and there was doubt in some quarters as to whether year-old TIME could survive.

At that time, in his capacity as circulation manager, Roy Larsen, now president of TIME, Inc., mailed a subscription offer to a list of potential TIME subscribers. Recently, 24 years late, one of these cards...

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