Elm Street, a Canadian magazine aimed at women and featuring an impressive roster of writers and a broad cultural focus, has folded after seven years of publication. The failure of yet another high-quality Canadian periodical ought to be setting off warning bells, says Andrew Cohen. “We don’t have the depth, consistency or quality of periodicals that a country of our size should, especially in critical areas such as foreign affairs. Then again, when you’re paying writers the same rate as 20 years ago, you won’t attract the best.”