An examination is made of proposals for early reading in terms of the best time for beginning instruction and the effects upon children. In any discussion regarding early reading one must distinguish between prereading activities and formal reading instruction and must determine whether formal instruction is intended for all children or for those who are ready to read or already reading. The discussion here is considered in relation to two groups of children, those who read before entering first grade and those who are taught to read before the age of 6. Several studies of such children are examined, and both the pro and con views of formal reading instruction for young children are given. The conclusion reached is that young children who are ready and want to read should be helped, of course, but that teaching reading to all 5-year-olds on a wholesale basis is questionable and may well be harmful to the child. References are included. Six short reactions to the paper are appended. (NH)