Evidently, the new Labor Exchange will not cause a revival of these old ways of doing things (which perhaps may have had something of good in them), but we may hope that laborers will find in it protection against those who would require of them an excess of work, as well as against those who would preach idleness and revolt to them.--_Le Monde Illustré_. [Illustration: NEW LABOR EXCHANGE--HALL FOR MEETINGS.] * * * * * THE BUSINESS END OF THE AMERICAN NEWSPAPER.[1] [Footnote 1: A recent address before the Outlook Club, of Montclair, N.J.] By A.H. SIEGFRIED. The controlling motive and direct purpose of the average newspaper are financial profit. One is now and then founded, and conducted even at a loss, to serve party, social, religious or other ends, but where the primary intent is unselfish there remains hope for monetary gain. The first newspapers never dreamed of teaching or influencing men, but were made to collect news and entertainment and deal in them as in any other commodity. But because this was the work of intelligence upon intelligence, and because of conditions inherent in this kind of business, it soon took higher form and service, and came into responsibilities of which, in its origin, it had taken no thought. Wingate's "Views and Interviews on Journalism" gives the opinions of the leading editors and publishers of fifteen years ago upon this point of newspaper motive and work. The first notable utterance was by Mr. Whitelaw Reid, who said the idea and object of the modern daily newspaper are to collect and give news, with the promptest and best elucidation and discussion thereof, that is, the selling of these in the open market; primarily a "merchant of news." Substantially and distinctly the same ideas were given by William Cullen Bryant, Henry Watterson, Samuel Bowles, Charles A. Dana, Henry J. Raymond, Horace White, David G. Croly, Murat Halstead, Frederick Hudson, George William Curtis, E.L. Godkin, Manton Marble, Parke Godwin, George W. Smalley, James Gordon Bennett and Horace Greeley. The book is fat with discussion by these and other eminent newspaper men, as to the motives, methods and ethics of their profession, disclosing high ideals and genuine seeking of good for all the world, but the whole of it at last rests upon primary motives and controlling principles in nowise different or better or worse than those of the Produce Exchange and the dry goods district, of Wall Street and Broadway, so that, taking publications in the lump, it is neither untrue nor ungenerous, nor, when fully considered, is it surprising, to say that the world's doing, fact and fancy are collected, reported, discussed, scandalized, condemned, commended, supported and turned back upon the world as the publisher's merchandise.