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 or special exhibits. A bank may be urged to open a Fifth Avenue branch, not because the actual business done on Fifth Avenue warrants the expense, but because a beautiful Fifth Avenue office correctly expresses the kind of appeal which it wishes to make to future depositors; and, viewed in this way, it may be as important that the doorman be polite, or that the floors be kept clean, as that the branch manager be an able financier. Yet the beneficial effect of this branch may be canceled, if the wife of the president is involved in a scandal.

Big business studies every move which may express its true personality. It seeks to tell the public, in all appropriate ways,—by the direct advertising message and by the subtlest esthetic suggestion—the quality of the goods or services which it has to offer. A store which seeks a large sales volume in cheap goods will preach prices day in and day out, concentrating its whole appeal on the ways in which it can save money for its clients. But a store seeking a high margin of profit on individual sales would try to associate itself with the distinguished and the elegant, whether by an exhibition of old masters or through the social activities of the owner's wife.

The public relations activities of a business cannot be a protective coloring to hide its real aims. It is bad business as well as bad morals to feature exclusively a few articles, when the main stock is of medium grade or cheap, for the general im-