PRINTED IN THE UNITED STATES OF AMERICA

This book is a study of Supernaturalism from a new point of view-as a Source of Income and a Shield to Privilege. I have searched the libraries through, and no one has done it before. If you read it, you will see that it needed to be done. It has meant twentyfive years of thought and a year of investigation. It contains the facts.

I publish the book myself, so that it may be available at the lowest possible price. I am giving my time and energy, in return for one thing which you may give me the joy of speaking a true word and getting it heard.

Note to fifth edition, 1926: "The Profits of Religion" was first published early in 1917. The present edition represents a sale of over 60,000 copies, without counting a dozen translations. In this edition a few errors have been corrected, but otherwise the book has not been changed. The reader will understand that references to the World War are of the date 1917, prior to America's entrance.

This book is the first of a series of volumes, an economic interpretation of culture, which now includes "The Brass Check," "The Goosestep," "The Goslings," and "Mammonart."