The sonic tensile modulus (E) of paper decreases with moisture content (m). The slope of the decrease, d In E|dm, is constant up to a moisture content equal to the fibre saturation point of paper. This phenomenon seems consistent with the multilayer adsorption of water and its explanation provided by the polarisation theory of Polanyi. The energies of interactions between layers of adsorbed water indicate that hydrogen bonds between layers may contribute to the load carrying capacity of wet paper. This hydrogen bonding between layers implies a structured organisation throughout the adsorbed water that extends several layers from the cellulose surface. In this way, it appears that water near a cellulose surface is structured by the cellulose surface rather than destructured by it. One such model for structured water is presented.