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.