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uncertainty as to what would happen to the market and then the minor
recession and then, of course, the take-off of the economy?
The extraordinary thing is that everybody thought the
economy was going to go into a tailspin right after the war and
instead of that it took off very rapidly. As I remember it, our
business was fantastic and we were increasing our circulation and our
ad rates and the number of advertising pages that we were running at
a very rapid rate and at considerable cost, because we were spending
an awful lot of money on the circulation fulfillment--the thing that
I just mentioned--and on paper, and on ink, and on everything. Then
also price controls ended at that point, so the prices that had been
artificially held down went sky high and we never really made the
kind of money that we should have.
I'm going to refresh your memory. These facts are from the Time,
Inc. history books that were written. This one would probably be the
one by Elson because it's in that period. Apparently, the
circulation of Life postwar was in the area of 5.2 million, but the
profitability was low--this is just according to this history book.
In 1947, since the war, a second ad increase of 9% was announced with
no concomitant increase in circulation--
A cost per thousand increase is what it's called.
Yes. Exactly. And this was done despite the fact, I guess, that
advertisers were still looking at the Post, The Saturday Evening
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