14 OCTOBER 1922, Page 1

In order to meet the large loss of revenue which

will follow the reduction in price and the increase in the amount of reading matter—a loss of some £7,000 a year—we must look to an increase in circulation. This increase can easily be obtained, and we are confident will be obtained, if we have the active support, as well as the good will, of our readers. If every existing reader of the Spectator will find us a new reader—a course which we suggest—the loss will be at once made good. Again, if former purchasers of the Spectator who felt obliged to give it up on the increase of price will once more take the paper, as we believe they will, we shall without doubt be able to maintain our reduc- tion in price without any reduction in the quality of our paper and print, and without losing that complete indepen- dence of external financial support which has always marked the Spectator. Finally, we suggest that all who no* are in the habit of reading the Spectator at a Club, a Library, or other Public Institution, but who desire to help the Spectator and to maintain its influence, should become regular subscribers.