ough the cost of publishing is heavy, the cost
of production is not advancing as rapidly as is the increase in
circulation. In other words, the circulation of the paper has
multiplied over eleven times in the last eight years, while the cost
of publishing for the same period has multiplied less than eight
times. The following charts show this graphically.

Compare the two long vertical lines. The longer one shows the increase
in the number of readers. The shorter one shows the increase in the
cost of publishing the paper.

[Illustration:
Increase in Circulation
Increase in Cost of Publishing]

As a propaganda paper, the Woman's Journal has, of course, always sent
out many papers per year purely for educational purposes. Hundreds of
papers have gone each year since 1870 through 1915 to campaign
states, to legislators, to libraries, to newspapers, to ministers and
teachers, in the attempt to make converts, and every suffragist having
any perspective of the movement knows that such propaganda work by the
Woman's Journal is to a great extent what has advanced the movement to
its present status. In other words, the Journal has from year to year
carried the torch on,--but it has always been at the sacrifice of a
large sum to be raised, over and above the receipts, either from the
Stone-Blackwell family or from a few friends of the movement.

The year 1915, with the advance of the movement in general, and in
the four big campaign states in particular, has been exceptional as a
propaganda year for the Journal. When a call came for Journals or for
information which the Journal workers could give, whether from New
York, Massachusetts, New Jersey, or Pennsylvania, the call has been
answered promptly; we have not said,--when the amendments were to be
voted on at a definite time,--"You must wait until we have raised the
money to pay for what you ask." We are proceeding in the same way with
the campaign states of 1916. What else can we do when the need is so
great?

The following illustration shows the extent of our propaganda work,
measured in papers, for 1915. It does not show what has been done in
the way of furnishing information and argument, refutation and data,
material and articles for the press or for special articles, debates,
and speeches.

This chart shows the free propaganda use of the Journal as compared
with the paid circulation. The black lines show the paid circulation
of the Journal per month, that is