The Argosy, December 1905 — page 100: what you’re looking at

Machine-transcribed from the original scan — historical spelling and the odd misread are preserved.

cost, the cost of making the plates, includes the purchase of manuscripts and drawings and the cost of engraving, the salaries of editors, artists, superintendents, and_ general managers, the cost of type-setting and of electrotype plates, rents, and general expense. You little realize, no one realizes, what magazine-making today means—the work, the thought, the everlasting care and anxiety and pains- taking that it involves—a first-class magazine, | mean. And a first-class magazine is in fact a first-class magazine regardless of the price at which it sells. The price no longer has anything to do with it. Price is wholly a question of business policy, wholly independent of magazine- making—of the merits of a magazine. The business side of it is this: Is it wiser to have a small circulation at a big price, or a great big circulation at a small price? MUNSEY’S MAGAZINE was the pioneer in the small price theory. It made the ten-cent price for itself, and made it possible, too, for other mag- azines to sell at this same price. The Christmas Munsey I especially wish you to get this Christmas number of MUNSEY’S MAGAZINE. It will be on sale at your oOo = a (C@ S (C@