THE PROFIT GOES TO THE NATION. 



This magazine has no shareholders and pays no dividends. The total income from sub- 

 scriptions, after paymg for cost of publication, is applied to our national educational 

 campaigns in forest conservation. Most facts are dry, but these are drier than 

 usual: The bill for raw paper each issue exceeds $200. A year's publication 

 costs $4,500, without counting a dollar for editorial expense, office 

 rent, etc. The magazine belong absolutely to the membership. 

 The money must come from membership fees. When a 

 member postpones payment of his dollar, he uncon- 

 sciously deducts ten cents from its value, for each 

 set of 'repeat' accounts sent out means an 

 added and really needless expense. Co- 

 operation is the spirit of the day. 



