gone forth; the tocsin of liberty has resounded: authors have burst
their fetters. And we have just inaugurated the institution of 'The
Grand Anti-Publisher Confederate Authors' Society,' by which,
Pisistratus, by which, mark you, every author is to be his own
publisher; that is, every author who joins the society. No more
submission of immortal works to mercenary calculators, to sordid tastes;
no more hard bargains and broken hearts; no more crumbs of bread choking
great tragic poets in the streets; no more Paradises Lost sold at L10 a-
piece! The author brings his book to a select committee appointed for
the purpose,--men of delicacy, education, and refinement, authors
themselves; they read it, the society publish; and after a modest
deduction, which goes towards the funds of the society, the treasurer
hands over the profits to the author."

"So that, in fact, uncle, every author who can't find a publisher
anywhere else will of course come to the society. The fraternity will
be numerous."

"It will indeed."

"And the speculation--ruinous."

"Ruinous, why?"

"Because in all mercantile negotiations it is ruinous to invest capital
in supplies which fail of demand. You undertake to publish books that
booksellers will not publish: why? Because booksellers can't sell them.
It's just probable that you'll not sell them any better than the
booksellers. Ergo, the more your business, the larger your deficit; and
the more numerous your society, the more disastrous your condition. Q.