"In announcing a Perpetual Time Subscription, the publishers believe their action is without precedent in Publishing history. Life Subscriptions there have been. But the thought of Time s being limited to a single lifetime is incongruous. Time is timeless and so, too, is Time s Perpetual Subscription. Sixty dollars, payable at the expiration of your present subscription, will bring Time to you during your lifetime to your heir and his heir to the end of Time ". June 17, 1929

Assume that a years subscription to Time could be purchased for $4 in 1929, that a very safe long-term bond could be purchased to yield 0.07, and that you could borrow very-long-term funds at 0.10.

Assume, long-term bond (costing $60) during the interim years exactly covers the cost of buying the magazines.

Just considering the value of the subscription after 77 years, was it a good buy if you had the cash and the alternative was a long-term investment? You had to borrow the purchase price at a cost of 0.10?