"_And where does the money come from?_" Partly from the sale of papers. Only four cents apiece, and only a part of that goes to the paper; but, then, 25,000 times, say two-and-a-half cents, is $625, which it must be confessed, is quite a respectable sum for quarter-dimes to pile up in a single day. But the greater part of the money comes from advertisements. Nearly half of the paper is taken up with them. If you take a half-dozen lines to the advertising clerk, he will charge you two or three dollars; and there are several hundred times as much as your small advertisement in each paper. So you may guess what an income the advertising yields. And the larger, the more popular, and the more widely read the paper, the better will be the prices which advertisers will pay, and the more will be the advertisements. And so the publisher tries to sell as many papers as he can, partly because of the money which he gets for them, but more, because the more he sells the more advertising will he get, and the better rates will he charge for it. So, Tom, if you ever become the publisher of a newspaper, you must set your heart on getting an editor who will make a paper that will sell--whatever else he does or does _not_ do. "_And is it a paying concern?_" Well, I don't think the editors think they get very large pay, nor the correspondents, nor the reporters, nor the printers, nor the pressmen. They work incessantly; it is an intense sort of work; the hours are long and late; the chances of premature death are multiplied. I think they will all say: "We aren't in this business for the money that is in it; we are in it for the influence of it, for the art of it, for the love of it; but then, we are very glad to get our checks all the same." As to whether the paper pays the men who own it--which was Tom's question: I think that that "depends" a great deal on the state of trade, on the state of politics, and on the degree to which the paper will, or will not, scruple to do mean things. A great many papers would pay better, if they were meaner. It would be a great deal easier to make a good paper, if you did not have to sell it. When, then, Jonathan shall have become a minister, he doesn't want to bear down too hard on a "venal press" in his Fast Day and Thanksgiving sermons. Perhaps, by that time, Tom will be able to explain why. "_How, now, is this paper made?_" "But," interrupts Jonathan, "before they make it, I should like to know where they get the 100,000 words to put into it; I have been cudgeling my brains for now two weeks to get words enough to fill a four page composition--say 200 words, _coarse_." The words which are put into it are, besides the advertisements, chiefly: 1. News; 2. Letters and articles on various subjects; 3. Editorial articles, reviews, and notes; 4. Odds and ends.