ADeceSrfhi9ri9.'^      Y CaY  B°°k   °Y  Abstract   Joumat,  7S7 
enue  can  be  readily  gotten  by  sufficiently  increased  membership, 
provided  the  present  system  of  annual  dues,  which  is  the  same  today 
as  it  was  in  1852  when  the  Association  was  founded,  be  properly 
modified. 
As  a  matter  of  fact,  the  question  of  the  finances  of  the  Associa- 
tion is  the  crux  of  the  whole  situation.  In  the  first  place,  it  should 
be  stated  that  the  finances  of  the  Association  are  in  excellent  shape 
— they  have  never  been  better,  but  the  expenses  of  the  Association 
are  constantly  increasing. 
In  common  with  individuals  everywhere,  the  Association  has  felt 
the  pinch  of  the  high  cost  of  living,  and  its  activities  have  been  re- 
stricted, instead  of  being  expanded,  as  they  should  be.  As  Presi- 
dent La  Wall  has  said,  "  There  is  no  question  as  to  the  value  of  our 
organization  to  the  majority  of  the  members  who  belong  to  it. 
There  is  no  doubt  either,  as  to  the  great  increase  in  the  overhead 
costs  to  the  Association,  and  if  things  continue  in  the  same  propor- 
tion, we  shall  soon  have  a  deficit  in  the  treasury." 
It  may  be  of  interest  to  state  that,  during  191 8,  the  receipts  of 
the  Association,  excluding  those  belonging  to  the  A.  Ph.  A.  Research 
Fund  (which  were  covered  into  the  Fund  on  January  1,  1919)  and 
the  interest  on  investments,  were  but  slightly  in  excess  of  the  dis- 
bursements ;  there  was  no  deficit. 
Of  these  receipts  about  60  per  cent,  came  from  the  annual  dues 
of  members,  about  25  per  cent,  from  Journal  advertisements  and 
about  10  per  cent,  from  the  National  Formulary,  and  the  balance 
from  other  sources. 
If  the  receipts  from  interest  and  other  sources  be  taken  into 
consideration,  the  Association  may  be  said  to  be  in  excellent  finan- 
cial condition ;  but  the  point  is  that  there  is  a  positive  need  for  more 
revenue  if  the  Association  is  to  do  the  kind  and  volume  of  work  it 
must  do  to  progress. 
A  largely  increased  membership  is  most  desirable,  not  only  be- 
cause it  will  mean  increased  revenue  and  relatively  less  "  overhead 
expense."  but  also,  because  it  will  make  the  Association  more  fully 
representative  of  American  Pharmacy,  give  it  greater  influence  and 
prestige,  and  enable  it  to  better  promote  the  objects  for  which  it 
stands.  Hence,  the  necessity  for  "  a  nation-wide,  intensive  drive 
for  increased  membership,  utilizing  every  agency  at  the  command  of 
the  Association,  but  all  working  under  one  head,"  as  suggested  by  E. 
L.  Xewcomb.    Such  a  drive  should  be,  of  course,  "  modern,  strongly 
