has the Congressional Union. _The Headquarters News Letter_ has the
National Suffrage Association.

Now, while the Journal has had no organization with large membership
and resources to make it a power, it has shown great vitality as
witnessed by the fact that it is the oldest surviving suffrage
periodical in the world. Furthermore, it has shown such remarkable
growth during the past few years, with no capital put up to promote
it and build it up as other businesses are built up, that it seemed
apparent that all it needed to make it strong and self-supporting was
a reasonable amount of capital, a reasonable amount of time and the
wholehearted co-operation of suffragists in general which has been
growing in an encouraging degree. It seemed a time for faith and not
for fear.

It was accordingly decided to retain the eight-page size, to continue
the paper as a weekly and to borrow the money necessary to meet the
deficit, believing that the great body of readers of the Journal
would approve and sustain this decision when it was brought to their
knowledge. They would feel that a backward step should be impossible.

At the present time and covering the indebtedness of the Journal from
October, 1912, to January, 1916, the figures are as follows:

Borrowed in 1915....................... $10,500

Owed E.L. Grimes Company for printing,
paper stock, mailing, approximately .. 9,000
________
$19,500