Having tried to define the present relation of publishers and booksellers, I beg leave to say frankly that I know of no reason why publishers and booksellers should maintain any different relations with librarians than they maintain with any other retail customers. For example, let us take the new "Book-Lovers' Library," so called. Their plan is to sell memberships, and to deliver to each member one book a week for five dollars a year, or three books a week for ten dollars a year. They take up the books at the end of each week and supply new ones. If this plan could be carried out successfully, it would result in making one book do the service now performed by ten or fifteen books. In other words, this circulating library proposes to furnish its members with ten or fifteen books for the same amount of money they now pay for one book by simply passing the book around from one to another. The effect of this scheme, if carried into all cities and towns as proposed, would be to reduce the number of books manufactured and sold to about _one-tenth_ of its present magnitude. From a business point of view, publishers and dealers cannot be called upon to make special discounts to encourage such an enterprise. The encouragement and support given to authors, by patrons of literature, would be reduced by this scheme to about one-tenth of the present amount. The effect of this withdrawal of support to American authors can easily be imagined. But I do not believe that real book-lovers, intelligent and conservative readers, will be carried away by this passing craze. On the contrary, they have studiously avoided forming that careless, slip-shod habit of reading that characterizes patrons of circulating libraries. The real book-lover selects his books like his friends, with caution, and with discriminating and painstaking care. From a bookseller's point of view, the "Book-Lovers' Library" is not founded on practical lines. However, as the plan also includes the selling of capital stocks to its patrons, it is probable that the money received from subscriptions, together with the annual membership fees, will be sufficient to keep the enterprise going for some time. But since this is a corporation organized for the purpose of making money, a failure to earn money and to pay dividends will discourage its patrons, cause them to feel that they have been deceived, and finally to withdraw from membership. When the members realize that they are paying five or ten dollars a year for privileges that can be had free at the local library, in most cases they will withdraw their support. Thus, while in some respects I regard this enterprise as an evil factor, it contains, I think, inherent weaknesses that will finally compass its own end.