Another year has gone by and the problems of publishing The Physical Review and Physical Review Letters have not changed, except in magnitude. The size of The Physical Review has grown by about 400 pages at a time when, also, the cost of printing increased. In order to prevent serious financial problems the page charge of both The Physical Review and Physical Review Letters has been increased by $10.00. We are not sure about the reason for the growth of our journal, but we have noticed that whenever we succeed in shortening the time between submittal and publication, the number of manuscripts received increases markedly. Physical Review Letters still has an alarming rejection rate. We are disappointed by observing that so many authors still send us Letters which are unsuitable for this journal. We admit, as we have stated on previous occasions, that the difficult decision of what deserves speed is sometimes the result of a rather subjective judgment, which may appear to be arbitrary. But it is most essential to keep the number of Letters limited if we want the journal to fulfill its function of speed and readability. Our principal complaints are still about authors who publish their research in a series of Letters instead of performing the more useful service of writing a good definitive Article. Authors often cite prior Letters as an argument for accepting their own paper on the same subject as a Letter. Nothing could misconstrue the purpose of the Letters more. Only the first reports of new results and new ideas warrant speedy publication; later developments should be presented in their full development as regular Articles in appropriate journals. As a case in point consider the three Letters in this issue on nonlinear optical effects discovered with the aid of lasers. It is our contention that the proof of the existence of this effect, and the use of this instrument in its elucidation, have now been demonstrated. Further papers which report on extensions and amplifications of these results will not be deemed to warrant Letter speed. The burden of proof that the report presents new physics will lie with the authors. Another problem is presented by many Letters on theoretical subjects. Most of them cannot be written sufficiently lucidly in the limited space available to be understandable to more than very few readers, if any. In this respect they run counter to the function of the Letters as a journal for the wide dissemination of new and important physical results. If, in order to communicate, they must utilize the fuller treatment of an Article, they should be prepared as such and be submitted to The Physical Review. We also object to using the Letters for the announcement of future Articles. Since the Abstract of an accepted Article is promptly printed in the Letters supplement, there is absolutely no need for additional publication as a Letter. Moreover such Letters are abbreviations of the forthcoming Articles and are usually not complete in themselves. Physical Review Letters can maintain and improve its standards only if the Editors have the full cooperation of all contributors. We wish you all a happy and successful New Year.