A Letter From The Publisher, Dec. 18, 1978

In its issue dated June 17, 1929, TIME printed a small ad that made a large offer: for $60, a reader could purchase a subscription that would last "to the end of TIME." In a year when an office worker might earn only $20 a week, spending $60 for a newsmagazine just six years old was a bold investment. Nevertheless, nearly 200 readers—from places as diverse as Myitkyina, Burma and Goose Creek, Texas—bet on the future of TIME.

"Frankly, the large response surprised me a bit," recalls Roy Larsen, the magazine's first circulation manager...

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