In forming a Masters' Union, the publishers have at last abandoned the pretence of being swayed by any but pecuniary considerations in the exercise of their high function. There is something refreshing in this clearing of the air, in this abandonment of the Joseph Surface manner. And yet, I confess, my heart shelters a regret for the old style of publisher, as for the old style of author. Something of picturesque clings even to Jacob Tonson, with "his two left legs." The publisher as the patron of genius, the nurser of young talent, the re-inspirer of old, the scholar and gentleman, at once the friend and the banker of his authors, makes a pleasing figure. It was perhaps more ideal than real, for even of Murray we read in "Lord Beaconsfield's Letters ": "Washington Irving demanded a large price. Murray murmured. Irving talked of posterity and the badness of the public taste, and Murray said that authors who wrote for posterity must publish on their own account." Still, if the publisher would live up to this ideal, his would remain an honorable profession, instead of sinking to a trade. He would rank with the rare theatrical manager to whom art is dearer than profit--if such a one still survives. But the trail of business is over the age: the theatrical manager is a shameless tradesman, and more and more the publisher will become the mere distributer, if indeed he be not eliminated by a mechanical organisation. The popular author needs only a central store to supply the trade with his printed writings, the cost of production of which is covered by the first day's sales. This is, of course, to ignore the publisher in his aspect of initiator of series, art books and encyclopaedias. But to originate is to depart from publishing proper and to become entitled to the profits of the inventor; nay, almost to step over into the province of authorship and the dignity thereof.