The Atlantic Monthly, Volume 20, No. 120, October, 1867: A Magazine of Literature, Science, Art, and PoliticsVarious
General
The Atlantic Monthly, Volume 20, No. 120, October, 1867: A Magazine of Literature, Science, Art, and Politics
Various
American periodicals
It is this terrible uncertainty as to the value of the commodity purchased,
which renders publishing a business so difficult, precarious, and
unprofitable; and the higher the character of the literature, the greater
the difficulty becomes. Publishers who confine themselves chiefly to works
of utility and necessity, or to works professional and sectarian, have an
easy task to perform, compared with that of a publisher who aims to supply
the public with pure science and high literature. If any business can claim
favorable consideration from those who have in charge the distribution of
the public burdens, surely it is this. If in any way its perils can be
justly diminished by law, surely that protection ought not to be withheld.
We believe it could be shown that the business of publishing what the trade
calls "miscellaneous books," i. e. books which depend solely upon their
intrinsic interest or merit, yields a smaller return for the capital and
talent invested in it than any other. The Harpers have a grand
establishment,--one of the wonders of America. Any one going over that
assemblage of enormous edifices, and observing the multitude of men and
women employed in them, the vast and far-reaching enterprises going
forward,--some of which involve a large expenditure for years before any
return is possible,--the great numbers of men of ability, learning, and
experience who are superintending the various departments, and the amazing
quantities of merchandise produced, the mere catalogue of which is a large
volume,--any one, we say, observing these things, would naturally conclude,
that the proprietors must be in the receipt of Vanderbiltian incomes. The
same amount of capital, force, experience, and talent employed in any other
branch of business could not fail to put the incomes of the proprietors
high up among those which require six figures for their expression. Compare
the returns of these monarchs of the "trade" with those of our dry-goods
magnates, and our mighty men in cotton, tobacco, and railroads. A dealer in
dry-goods in the city of New York has returned as the _income_ of a single
year a sum half as large as the whole capital invested in the establishment
of the Harpers. If the _signal_ successes of publishing--successes which
are the result of the rarest conjunctions of talent, capital, experience,
and opportunity--are represented by incomes of twenty and thirty thousand
paper dollars a year, what must be the general condition of the trade? But
it is the difficulty of conducting the business at all, not the slenderness
of its profits, upon which we now desire the reader to reflect. That
difficulty, we repeat, arises from the fact that a publisher buys his pig
in a poke. He generally knows not, and cannot know, whether what he buys is
worth much, little, or nothing.
Public-domain text, read in full here on John Shaqi.
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