Knight had fortunately no bills afloat at the time of the panic which, in connection with his endeavour to assist the Windsor bank, he so graphically describes--“In the Albany we found the partners of one firm deliberating by candle light--a few words showed how unavailing was the hope of help from them: ‘We shall ourselves stop at nine o’clock.’ The dark December morning gradually grew lighter; the gas lamps died out; but long before it was perfect day we found Lombard Street blocked up by eager crowds, each man struggling to be foremost at the bank where he kept his accounts, if its doors should be opened.” Still, Mr. Knight, though not directly involved, found, like many other publishers, that the schemes of 1825 would not sell in 1826, and that the booksellers must, spite of themselves, “hold on” as best they could. Colburn, indeed, was the only one who still continued his ventures, and from the light and soothing nature of his publications, chiefly fictions calculated to allay the torture of reality, he was able to reap a reward for his temerity. Every day found Mr. Knight more sick of his prospects than the last. The _Brazen Head_, a weekly satirical and humorous journal of his just started, lightened though it was by the rippling wit of Praed, fell upon the public like a leaden lump. Mr. Knight’s brain had long been filled with a scheme of popular and cheap literature, and he now made up his mind to start afresh--to tempt the world and bless it with a real “National Library,” so good that all should desire, so cheap that all would buy. Lord Brougham, who was at that moment organizing the “Society for the Diffusion of Useful Knowledge,” heard of this plan and obtained an introduction to the schemer. The idea of the National Library was at first taken up by the Society, but was finally adopted by John Murray. Differences of opinion as to the editorial responsibilities, and the arrangements as to the transfer of his stock to Albemarle Street, presented new difficulties, and thoroughly sick of the whole matter, Mr. Knight suddenly abandoned it. The germ of his idea, however, bore fruit in the “Treatises” published by the Society in March, and in the “Cabinet Encyclopædia,” issued a few years afterwards by Longman. “My boat,” writes Mr. Knight, “was stranded. Happily for me there were no wreckers at hand ready for the plunder of my damaged cargo.” Anyhow, for the time being, publishing was over. To a man of indomitable pluck, and blessed with the pen of a ready writer, journalism presents a tolerably open field, and to newspaper work Mr. Knight again addressed himself; but in a few weeks a document, which Mr. Knight values, he says, as a soldier values his first commission, reached him containing an offer of the superintendence of the Society’s publications, an offer that was forthwith accepted. As a first step, the “Library of Entertaining Knowledge” was commenced, and, in 1828, he started the _British