chestra was that of mutual dependence. Other orchestras,
he found, as, for example, the Boston Symphony and the New York
Philharmonic had their deficits met by one individual patron in each
case. This, to Bok's mind, was an even worse system, since it entirely
excluded the public, making the orchestra dependent on the continued
interest and life of a single man.

In 1916 Bok sought Mr. Alexander Van Rensselaer, the president of the
Philadelphia Orchestra Association, and proposed that he, himself,
should guarantee the deficit of the orchestra for five years, provided
that during that period an endowment fund should be raised, contributed
by a large number of subscribers, and sufficient in amount to meet, from
its interest, the annual deficit. It was agreed that the donor should
remain in strict anonymity, an understanding which has been adhered to
until the present writing.

The offer from the "anonymous donor," presented by the president, was
accepted by the Orchestra Association. A subscription to an endowment
fund was shortly afterward begun; and the amount had been brought to
eight hundred thousand dollars when the Great War interrupted any
further additions. In the autumn of 1919, however, a city-wide campaign
for an addition of one million dollars to the endowment fund was
launched. The amount was not only secured, but over-subscribed. Thus,
instead of a guarantee fund, contributed by thirteen hundred
subscribers, with the necessity for annual collection, an endowment fund
of one million eight hundred thousand dollars, contributed by fourteen
thousand subscribers, has been secured; and the Philadelphia Orchestra
has been promoted from a privately maintained organization to a public
institution in which fourteen thousand residents of Philadelphia feel a
proprietary interest. It has become in fact, as well as in name, "our
orchestra."

XXXIII. How Millions of People Are Reached

The success of The Ladies' Home Journal went steadily forward. The
circulation had passed the previously unheard-of figure for a monthly
magazine of a million and a half copies per month; it had now touched a
million and three-quarters.

And not only was the figure so high, but the circulation itself was
absolutely free from "water." The public could not obtain the magazine
through what are known as clubbing-rates, since no subscriber was
permitted to include any other magazine with it; years ago it had
abandoned the practice o