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we begin to make more and more exact studies of the press, much will depend upon the hypothesis we hold. If we assume with Mr. Sinclair, and most of his opponents, that news and truth are two words for the same thing, we shall, I believe, arrive nowhere. We shall prove that on this point the newspaper lied. We shall prove that on that point Mr. Sinclair's account lied. We shall demonstrate that Mr. Sinclair lied when he said that somebody lied, and that somebody lied when he said Mr. Sinclair lied. We shall vent our feelings, but we shall vent them into air.

The hypothesis, which seems to me the most fertile, is that news and truth are not the same thing, and must be clearly distinguished. The function of news is to signalize an event, the function of truth is to bring to light the hidden facts, to set them into relation with each other, and make a picture of reality on which men can act. Only at those points, where social conditions take recognizable and measurable shape, do the body of truth and the body of news coincide. That is a comparatively small part of the whole field of human interest.