To such repeal many rich men owe their prosperity, while to the same source may now be ascribed the poverty of numbers who were once affluent. At this time, of course, the old papers also reduced their rates, and from thence has grown a system of newspaper reading and advertising which twenty years ago could hardly have been imagined. Up to the repeal of the stamp duty few people bought newspapers for themselves, and many newsvendors’ chief duty was to lend the _Times_ out for a penny per hour, while a second or third day’s newspaper was considered quite a luxury by those whom business or habit compelled to stay at home, and therefore who were unable to glance over the news--generally while some impatient person was scowlingly waiting his turn--at the tavern bar or the coffee-house. Now almost every one buys a penny paper for himself, and with the increase in the circulation of newspapers has, in proportionate ratio, gone on the increase in the demand for advertisements. The supply has, as every one knows, been in no way short of the demand. The repeal of the paper duty in 1861 also affected newspapers much, though naturally in a smaller degree than the abolition of the compulsory stamp. Still the effect on both the papers and their advertisements--especially as concerns those journals which were enabled to still farther reduce their rates--was considerable, and deserves to be noted. In September 1870 the compulsory stamp, which had been retained for postal purposes, was abolished, and on the 1st of October papers were first sent by post with a halfpenny stamp affixed on the wrappers, and not on the journals themselves.