From this, probably the most extensive private library ever gathered, let us turn to the largest single purchase, in number of volumes, made at one time for a public library. When Dr. J. G. Cogswell went abroad in 1848, to lay the foundations of the Astor Library, he took with him credentials for the expenditure of $100,000; and, what was of even greater importance, a thoroughly digested catalogue of _desiderata_, embracing the most important books in every department of literature and science. No such opportunity of buying the finest books at the lowest prices is likely ever to occur again, as the fortuitous concourse of events brought to Dr. Cogswell. It was the year of revolutions--the year when the thrones were tottering or falling all over Europe, when the wealthy and privileged classes were trembling for their possessions, and anxious to turn them into ready money. In every time of panic, political or financial, the prices of books, as well as of all articles of luxury, are the first to fall. Many of the choicest collections came to the hammer; multitudes were eager to sell--but there were few buyers except the book merchants, who were all ready to sell again. The result was that some 80,000 volumes were gathered for the Astor Library, embracing a very large share of the best editions and the most expensive works, with many books strictly denominated rare, and nearly all bound in superior style, at an average cost of about $1.40 per volume. This extraordinary good fortune enabled the Astor Library to be opened on a very small endowment, more splendidly equipped for a library of reference than any new institution could be today with four or five times the money. Compared with such opportunities as these, you may consider the experiences of the little libraries, and the narrow means of recruitment generally found, as very literally the day of small things. But a wise apportionment of small funds, combined with a good knowledge of the commercial value of books, and perpetual vigilance in using opportunities, will go very far toward enlarging any collection in the most desirable directions. Compare for a moment with the results stated of the Astor Library's early purchases, the average prices paid by British Libraries for books purchased from 1826 to 1854, as published in a parliamentary return. The average cost per volume varied from 16_s_ or about $4 a volume, for the University Library of Edinburgh, to 4_s_ 6_d_, or $1.10 a volume for the Manchester Free Library. The latter, however, were chiefly popular new books, published at low prices, while the former included many costly old works, law books, etc. The British Museum Library's average was 8_s_ 5_d_ or about $2.00 per volume. Those figures represent cloth binding, while the Astor's purchases were mostly in permanent leather bindings.