Cheraw gazette. [volume] (Cheraw, S.C.) 1835-1838, 1836-11-01
Propectus
OF THE
AMERICAN LITERARY COMPANY

IVTHIIE object ofthis Company is oelevats tfe
general standard of Literature in the United
States. by introducing into common use, an
improved uniform series of elementary books, and
stimulating matt i've talent, by securing to authors
the publishers, rofit on other than school books.
The plan is the organization of a company
with sufficient capital to publish all books written
| by native authors, which may be approved by a
committee of publication, at the risk of tho com.
pany, who shall pay over to the author sh profit
on the sales, after deducting the printers chaI-
ges and incidental expenses.
| 1t is proposed to manufacture the paper used
in printing, and thus to save the expense Of dry
ing it for market, putting it into bundles, trans
! portation to market, commission, interest and
guarantees, equal at least TO twenty per cent.
A greater saving can be made by the employ
ment of boys in composition, printing and bind
ing. This, with the profits on periodicals., re-
prints, and elementary books, will secure to the
stockholders good dividend.
BY requiring each clerk, foreman, papermaker,
jonneyman, proofreader, and all others connect
ed with the Company, to hold certain amount
ofstock proportioned to their salary, which, when
it has not been paid in advance, will be liquidated
by sinking fund out of their earnings, and held
subject to be assigned to the successor OF each,
upon a condition that such successor shall be al
lowed to pay for it by deduction from his earn
ings, each person attached TO the company be-
comes stockholder, and, to the extent OF his
stock, interested in the success Of the institution.
This feature will be rigidy enforced, and in case
any one in the employment of the Company shall
for any cause, be dismissed or leave It's service,
his stock will be assigned to his successor.
Agencies will be established in the large cities,
where the Company's books can always be had
at the wholesale prices. Booksellers, and coun-
try merchants who sell books, now pay profit
to the paper maker, another to the printer, and
third TO the publishers. These who subscribe
stock in this Company will receive books at their
cost, rating the printing at the New York prices,
to tie amount Of the stock so subscribed 1t be-
ing understood that the dividend on their stock,
to the amount of six per cent. per annum only,
shall be charged as interest and that all dividend
above six per cent. shall be paid to such stockhol-
dcrs. The Company thus guarantee to booksei-
lers dividend Of 6 per cent per annum on the
amount ofther stock, and the paper makers prof
it, the printers profit, and the publishers proflt,
over and beyond their own profit as booksellers.
The advantage to the Company is, that all the
stockholders will be interested III getting work
! for the Company's Office, and that each stock
holder will always give preference to the Com-
pany's paper and the Company's books ove' those
of other makers aud publishers. Such an ar-
rlngeInent with the booksellers will enable the
| Company, by means ola circular addressed to
their correspondents enclosing their report ofthe
committee of publication, to be sod, and thus
protect them against all loss by Us 'ertalning In
advance if a proposed work can b sold; for II u
cannot be sold, the Company I not PRINT i.
Thus the interests Of authors, ablishe.s and
booksellers will be reconciled, by eating com.
muuitv in which the rights of e.,h viii be Sc
cured, the public benefited by o introduction
ofa ur form series of improved school books, and
the SoGth protected against the introduction OF
anv matter tending in the most remote degree 10
assail our institutions and prosperity. And when
We takc into consideration the fact was that there
arc now held against the prejudices of the world
that society with more than five hundred
auxiliary associations spread over many OF the
States ofthis Union, with immense sums tor tho
gratuitcus distribution of tracts and pamphlets,
have declared universal emancipation, and re-
member the influence which early impressions
have on the matured mind, all must see the I'M
portance Of guarding against the admission into
our elementary books of any matter which may
mislcad the feelings or judgment.
/ Inasmuch as the sale of school books is much
greater, and the value and profit depends much
more on the publisher, the Company will divide
the profit with the author or compiler on all ele.
mentary books. This arrangement will place all
authors and compilers on the same footing; and
inasrnuch as the company will have no interest
in tho copy right beyond contract tor the ex.
elusive right to publish until better or improved
book is produced by some other author, the COM
plnv will be always inviting, and in flct Offering
premium for better and improved books. AS 1t
now is, every author encounters the competition
of publishers who have the copyrights of rival
books This Company will be an impartial uih-
pre, ready 10 place each now competitor on the
same footing as the most favored party. Its OBJ
iect being to publish the best book, and the profit
being the Same either, the preference will al
ways be, and Directors will be held in Columbia,
South Carolina, on the 30th of November. In
the mean time subscriptions will be received, and
the certificates of stock issued when the Compa.
nv is organized. The objects to be accomplished
by this Company are such that it is hoped there
will be no want of funds; and we especially rely
on the readers of the Telegraph to forward theil
names.
Washington City, August I'd, 1886.