speculator, she is rarely indeed allowed to escape. The system of work on American (U.S.) journals is very dif ferent from that pursued here, everything on such establishments as those of the New York Herald, the Tribune, and the Times, being sacrificed to news. This is more particularly the case with regard to the Herald, which has an immense circulation and great numbers of highly-priced advertisements, most of which are unfortunately regarded more in connection with the amount of money they produce to the proprietor than in reference to any effect, moral or otherwise, they may have on the community. It is the boast of American journalists that they have papers in obscure towns many hundreds of miles inland, any one of which contains in a single issue as much news-news in the strictest meaning of the word—as the London Times does in six. And, singular as it may at first sight seem, there is a great element of truth about the statement, the telegraph being used in the States with a liberality which would drive an English proprietor to the depths of black despair. The Associated Telegraph Company seem to enjoy a monopoly, and to exercise almost unlimited powers; and not long ago they almost completely ruined a journal of standing in California by refusing to transmit intelligence to it because its editor and proprietor had taken exception to the acts of some members of the Associated Telegraph Company's staff, and it was only on receipt of a most abject apology from the delinquents that the most autocratic power in the States decided to reinstate the paper on its list. This Telegraph Company charges very high rates, and the only visible means by which this system of journalism is successfully carried out is that of advertisements, which are comparatively more plentiful in these papers than in the English, and are charged for at considerably higher rates. Some of these newspapers, notably a small hebdomadal called the San Francisco Newsletter, go in for a deliberate system of blackmailing, and have no hesitation in acknowledging

that their pages, not the advertisement portions, but their editorial columns, are to be bought for any purpose-for the promotion of blasphemy, obscenity, atheism, or any other "notion"-at a price which is regulated according to the editor's opinion of the former's value, or the amount of money he may have in his pocket at the time. This is a system of advertising little known, happily, in this "effete old country," where we have not yet learned to sacrifice all that should be dear and honourable to humanity-openly, at all events--for a money consideration. It is almost impossible to tell the number of papers published throughout the United States of America, each individual State being hardly aware of the quantity it contains, or how many have been born and died within the current twelvemonths. The Americans are a truly great people, but they have not yet settled down into a regular system, so far, at all events, as newspapers and advertisements are concerned.*

The first paper published in America is said to have been the Boston Newsletter, which made its appearance in 1704. The inhabitants of the United States have ever been wideawake to the advantages of advertising, but it would seem that the Empire City is not, as is generally supposed here, first in rank, so far as the speculative powers of its denizens go, if we are to believe the New Orleans correspondent of the New York Tribune, who says in one of his letters :

* In 1830 America (U.S.), whose population was 23,500,000, supported 800 newspapers, 50 of these being daily; and the conjoined annual circulation was 64,000,000. Fifteen years later these figures were considerably increased-nearly doubled; but since the development of the Pacific States it has been almost impossible to tell the number of papers which have sprung into existence, every mining camp and every village being possessed of its organ, some of which have died, and some of which are still flourishing. A professed and apparently competent critic assures us that there are quite 3000 newspapers now in the States, and that at least a tithe of them are dailies.

"The merchants of New Orleans are far more liberal in advertising than those of your city, and it is they alone which support most of our papers. One firm in this city, in the drug business, expends 20,000 dollars a year in job printing, and 30,000 dollars in advertising. A clothing firm has expended 50,000 dollars in advertising in six months. Both establishments are now enjoying the lion's share of patronage, and are determined to continue such profits and investments. A corn doctor is advertising at over 10,000 dollars a month, and the proprietor of a 'corner grocery' on the outskirts of the city has found it advantageous to advertise to the extent of 7000 dollars during the past winter."

In London the Times and Telegraph absorb the lion's share of the advertiser's money. The former, the leading journal of the day, of independent politics and magnificent proportions, stands forth first, and, to use a sporting phrase, has no second, so far is it in front of all others as regards advertisements, as well as on other grounds. An average number of the Times contains about 2500 advertisements, counting between every cut-off rule; and the receipts in the advertisement department are said to be about £1000 a day, or 8s. each. A number of the Daily Telegraph in December 1873 contains 1444 advertisements (also counting between every cut-off rule), and these may fairly be calculated to produce £500 or thereabouts, the tariff being throughout little less than that of the Times; for what it lacks in power and influence the Telegraph is supposed to make up in circulation. This is rather a change for the organ of Peterborough Court, which little more than eighteen years ago was started with good advertisements to the extent of seven shillings and sixpence. The Telegraph proprietors do not, however, get all the profit out of the advertisements, for in its early and struggling days they were glad, naturally, to close with advertisement agents, who agreed to take so many columns a day at the then trade

price, and who now have a vast deal the best of the bargain. To such lucky accidents, which occur often in the newspaper world, are due the happy positions of some men, who live upon the profits accruing from their columns, and ride in neat broughams, oblivious of the days when they went canvassing afoot, and have almost brought themselves to the belief that they are gentlemen, and always were such. This must be the only bitter drop in the cup of the otherwise happy possessors of the Telegraph, which is at once a mine of wealth to them, and an instrument by which they become quite a power in the state. They can, however, well afford the lucky advertisement-agents their profits, and, looking back, may rest satisfied that things are as they are.

But there are many daily papers in London besides the Times and Telegraph, and all these receive a plentiful share of advertisements. The Standard has, within the past few years, developed its resources wonderfully, and may be now considered a good fair third in the race for wealth, and not by any means a distant third, so far as the Telegraph is concerned. This paper has a most extensive circulation, being the only cheap Conservative organ in London, if we may except the Hour, and as it offers to advertisers a repetition of their notices in the Evening Standard, it is not surprising that, spacious as are its advertisement columns, it manages to fill them constantly, and at a rate which would have considerably astonished its old proprietors. The Daily News, which a few years back reduced its price to one penny, has, since the Franco-Prussian war, been picking up wonderfully, and with its increased health as a paper its outer columns have proportionally improved in appearance; many experienced advertisers have a great regard for the News, which they look upon as offering a good return for investments. The Morning Advertiser, as the organ of the licensed victuallers, is of course an invaluable medium of inter-communication among members of "the trade," and in it are to be found advertisements of

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everything to be obtained in connection with the distillery, the brewery, and the tavern. Publicans who want potboys, and potboys who want employers, barmaids, barmen, and people in want of "snug" businesses, or with "good family trades" to dispose of, all consult the 'Tiser, which is under the special supervision of a committee of licensed victuallers, who act as stewards, and annually hand over the profits to the Licensed Victuallers' School. An important body is this committee, a body which feels that the eye of Europe is upon it, and which therefore takes copious notes of everything; is broad wideawake, and is not to be imposed on. But it is a kindly and beneficent body, as its purpose shows; and a little licence can well be afforded to a committee which gives its time and trouble, to say nothing of voting its money, in the interest of the widow and the fatherless. A few years back great fun used to be got out of the 'Tiser, or the "Gin and Gospel Gazette," as it was called, on account of its peculiar views on current questions; but all that is altered now, and since the advent of the present régime the Advertiser has improved sufficiently to be regarded as a general paper, and therefore as a general advertising medium. The Hour is a new journal, started in opposition to the Standard, and professing the same politics. It is hardly within our ken so far, and the same may be said of the Morning Post, which has its own exclusive clientèle. In referring to the foregoing journals, we have made no remarks beyond those to which we are guided by their own published statements, and we have intended nothing invidious in the order of selection. For obvious reasons we shall say nothing of the evening papers, beyond that all seem to fill their advertisement columns with ease, and to be excellent mediums of publicity.

The weekly press and the provincial press can tell their own story without assistance. In the former the advertisements are fairly classed, according to the pretensions of the papers or the cause they adopt, while with the provincials

B