As with patent medicines so with any other matter whatsoever that was
advertised. However bad, shoddy, harmful, or even treasonable the
matter might be, the proprietor was always at the choice of publishing
matter which did not affect _him_, and saving his fortune, or refusing
it and jeopardizing his fortune. He chose the former course.

In the second place, there was an even more serious development.
Advertisement having become the stand-by of the newspaper the large
advertiser (as Capitalism developed and the controls became fewer and
more in touch one with the other) could not but regard his "giving" of
an advertisement as something of a favour.

There is always this psychological, or, if you will, artistic element
in exchange.

In pure Economics exchange is exactly balanced by the respective
advantages of the exchangers; just as in pure dynamics you have the
parallelogram of forces. In the immense complexity of the real world
material, friction, and a million other things affect the ideal
parallelogram of forces; and in economics other conscious passions
besides those of mere avarice affect exchange: there are a million
half-conscious and sub-conscious motives at work as well.

The large advertiser still _mainly_ paid for advertisement according
to circulation, but he also began to be influenced by less direct
intentions. He would not advertise in papers which he thought might by
their publication of opinion ultimately hurt Capitalism as a whole;
still less in those whose opinions might affect his own private
fortune adversely. Stupid (like all people given up to gain), he was