The decision of The Times to raise its price to
3d. is an ent of some importance in the journalistic world. It has en up to that before—from March, 1918, to March, 1922.
e reason today is that as a result of paper-rationing The Times, like other journals, is faced with the necessity of limiting rculation, limiting advertisements, or limiting editorial matter, all three. Advertisements have, no doubt, fallen off seriously, u: as set-off The Times advertisement rates have been increased by 33i per cent. Its circulation, which was about 200,000 e-war, has probably gone up, and the 5o per cent. increase in ce will be a convenient, and not unprofitable, way of limiting t. The extra penny, needless to say, is a small matter beside cost of production, which is paid for much more by adver- ment-revenue than by circulation-revenue. In one respect he Times is fortunate. Ordinarily the increase in price might d some of its less opulent readers to transfer to the Daily elegraPh. But the Telegraph is under the same compulsion to t its circulation similarly, and cannot profit by such a nsfer.
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