The very great interest which the announcement has caused throughout
the country is a proof that the Times is regarded as a national institution—an institution as to which the public have a right to express an opinion, and not merely a private commercial venture. They realize that it is quite right for the Times to move with the times, but they would regard as a national calamity anything which lowered its standards. For ourselves, let us say once more that we wish the Times prosperity and long life, and we see no reason why under wise management the penny basis should not prove a sound one. No doubt a large measure of patience will be required for arriving at the full benefits that should flow from the change, but patience is required in every human effort "Tear' em" is a good dog, but "Hold-Fast" is a better.
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