hed in 1905 by the Government, show
that the capital invested in the publishing business had doubled in the
preceding half decade, despite the fact that publishing is almost
unique among industries in the diffusion of its establishments, and in
the tenacity with which it still clings to competition in an age of
combination. Since 1850 the whole industry has increased over
thirty-fold, while all other industries have increased only
fifteen-fold. The number of publications in the country, as given, is
21,394. These are capitalized at $239,505,949; they employ 48,781
salaried officers, and 96,857 wage-earners. Their aggregate circulation
per issue is 139,939,229; and their aggregate number of copies issued
during the year is 10,325,143,188. They consume 2,730,000 tons of
paper, manufactured from 100,000 acres of timber. These 21,394
periodicals receive $145,517,591, or 47 per cent of their receipts,
from advertising, and $111,298,691, or 36 per cent of the receipts from
sales and subscriptions. They are divided into 2452 dailies, of which
about one third are issued in the morning and two thirds in the
evening; 15,046 weeklies; 2500 monthlies, and a few bi-weeklies,
semi-weeklies, quarterlies, etc.

The number of these periodicals has doubled in the last twenty-five
years, but at the present moment the monthlies are increasing the
fastest, next, the weeklies, and last, the dailies. The dailies issue
enough copies to supply every inhabitant of the United States with one
every fourth issue, the weeklies with one every other issue, and the
monthlies with one copy of each issue for nine months of the year. One
third of all these papers are devoted to trade and special interests.
The remaining two thirds are devoted to news, politics, and family
reading.

Undoubtedly there are many contributing causes which have made the
periodical industry grow faster than all other industries of the
country. I shall mention only six.

First. The cheapening of the postal, telephone, and telegraph rates,
and the introduction of such conveniences as the rural free delivery,
so that news and general information can be collected and distributed
cheaply and with dispatch.

Second. The introduction of the linotype machines, rapid and multiple
presses, and other mechanical devices, which vastly increase the output
of every shop that adopts them.

Third. The photo-process of illustrating, which threatens to make
wood- and steel-engraving a lost