'47 MAGAZINE was established in March of 1947 and it was their intention to change their name with the calendar year, year by year and on through the succeeding decades. We have in our vast periodical library a few copies of '48 Magazine - but that is as far as they got before they were voted off the island.
It was a terrific magazine - and many of the names on their board of directors are recognized as some of the best literary minds that America had produced in the mid-Twentieth Century. But, as you'll see when you read the attached manifesto (they called it a "Statement of Intent", but I think that they really wanted to call it was a manifesto) they deeply desired to create an arts magazine that was entirely free of accountants, advertisers, lawyers, agents and, ultimately, profits; so they weren't around very long.