New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-11-28

nateIv heavy stockholder In and trustee of the
concern; TesgIiug his trust only when I'm 1901 ne
departed for Europe IN III heath fetufihg ouS 10
aided in preparing in issuing the first number hau
pTeceded or have followed Mr.. Snow to the Silent
Land: but two remain. and are now Foreman ana
Engineer respectively in the Printing department.
bofh stockholders and trustees Others, doubtless
survive who were with us then, but have long since
drifed away to the West to the Pacific slope or into
some othor employment, and the places tnat once
knew them know them no more. Twepty-six years
witness many changes, especially IN cty IKE ours,
a positon like mine and believe that the only man
who was Editor of q Newly Ork daily before me, and
who stih remains such, is Mr.. james Gordon Bennett
of The Herald.
Abont five hundred names Of subscribers had al
ready been obtained for 1IIE TmBUNE--m9inly by
warm personal and political friends, Noah Cook and
james CONGRATULATIONS its first issue, whereof L
printed 5000, and nearly succeeded in giving away
all of them that would not sell. had type, put no
presses; and so had to hire my press-wOrk done Dy
the token y my folding and mailing must nave
staggered me but for the circumstance that nad
few papers ~ mail and not very many 10 iOiu. Inc
lack of the present machinery OF kallloaus snu FIX
presses was grave obstacle to the circulation OF my
paper outside of the citys suburbs; eut thlnk Us
paidfOr issues were2 900 at the close OF te rs Week.
and that they increased pretty sea a. nU
OF 800 per week till they reached 10OOO MY current
expenses for the first week were about S1;pi my TO
ceipts $92; and though the outgoes steadily newt
ably increased the income increased IN sun larger
ratio till ii nearly balanced the former. But was
not made for publisher; indeed no man was ever
nnali6ed al once to edit and to publish daily paper
such as il must be to live in these times; aud ~ was
not until Mr.. Thomas McElrath-wh0m 4 nad
barely known momber oil the pupushlrIg
firm over whose store l inst set type III n to,i
city but who was now lawyer IN goou
standing and practice-made me voluntary
and wholly unexpected pr0tler OF partnership III ny
stl struggling but hopeful enterprises that ~ inehe
I've considered fairly on its feet He offered to invest
1000 as an equivalent to whatever had IN the Dsi
ness, and to devote his time ana energies W ts n
epement on the basis of perfect equality IN owner
ship and in sharing the proceeds. This very gia1y
accepted; and from that hour my load was PaipaDly
hghtened. Daring tho 10 years or over thag lHE
TRIDUNR was issued by Greeley g. MoElrath, my
partner never once even Indicated that my anu.
slavery anti Hanging Socialist, and other frequent
alterations from the straight and narrow pain OIL
Wing partisanship were injurious 10 our cVmmen
interest though no must often have sorey felt mat
they were so and never, except when WarolV uleW
from the common treasury more money than could
well De spared, in order to help some needy ulen9
whom. he judged beyond help, dld ne even ' G
grieyed at anything did, On tho other hand' MS
business management oil the concern, though never
brilliant nor specially energetic, was so sale ana
judicious that y gave me no tronDie anu t III ht
uncOuded prosperity. The transition from my Iouff
preceding years of incessant pecuniary anxlety, II
not absolute embarrassment, was IKE escaping from
the dungeon and the rack TO freedom ana sympathy
Hencoforth, such rare pecuniary troubles az
encountered were the Just penalties OF my own folly
in endorsing notes for persons who, IN the nature OF
things could not nationally be expected 10 pay the
But these penalties are not to be eYaded Dy tnoso
Who soon after entering responsible lie, 90 INTO
business as the phrase s when it is inevitable that
they must thereby be involved in debt. lie VINO
starts the basis of dependence on ms own proper
resources resolved 20 extend his business no iurher
and no faster than his means will justify, may falry
refuse TO lend what he needs IN bis own operations
or 10 endorse for others when he asks no one 10 on
dOrse for him. But you cannot ask faYofs, ana then
churlislly refuse TO grant any-DoITOw' ana theh
frOwn upon whoever asks you to lend-soek endorse
ments, but decline to give any ana so tho ide inc
prOdiga the dissOlute, with the thousahus ioIc-
doomed by their defects of capacity OF industry
or of management, to chronic banl0uptey nNe upon
the earnings of the capable thrifty, and provldent
Better wait five years 10 go into business upon ade
auate means which properly your own, than 10
rush in promaturcy trusting TO loans endorsements,
and the orbeaTance of creditors TO help you through
! have squandered much hard earned money In Try
ing to hep others who were already past hep, wnen
not only might but should have saved most OF " X
/ had never, needing help sought ana received IL.
As it s, trust that my general obligation mas deem
T2E TSTSUSE. as It first appeared. wosbut the germ
of what ] sought 80 make it. No journal sold Tor
cent could ever be much more than dry summary
Of the most important or the most interesting occur
Tences OF the day. and such rs not newspaper, IN
the higher sense Of the term. We need 70 know not
only what is DONE but what is purPosed and SAID by
those who sway the destnes of states and realms
and, to this end the prompt per9sa OF , se na
ete il Indispensable No man Is even toleiably IN
formed In our day who does not regularly Keep the
run of events and opinions, through the daily
peTusa of ut least one good journal; and the ready
cayil that no one can read All that great modern
journal contains only proves the Ignorance or
thOughteSsness Of tho caviler No one person IS e1
peeted to take such an interest IN the Tso ana IAN OF
stocks the markets for cotton, cattle. gram, ana
goods, the proceedings OF Congress %
phases of Spanish-American anarchy, ETC., etc, as
would incite him to daily perusa OF the entire con-
tents OF metropolitan city journal OF tho Ir% rank
The idea Is rather 20 embody in single sheet the
information daily required by all those who ann 10
keep posted" all important occurrences; 80 mat
the lawyer. the merchant the banker, the for
warder the economist the author. the poll
tician etc. may find here whatever he needs
to zee. and be spared the trouble OF looking
elsewhere A copy of a great morning journal
now contains more matter than an average l2no
volume and It's production costs far more wne IL Is
sold for a fOrtieth or hfteth part OF the volumes
price, There is other miracle OF cheapness IN com
psTisOn with its cost which at all approaches IT, The
Electric Telegraph has precuded the multiplication
OF journals in the great cities by enormously increas
ing the cost of publishing each of them. THE IRIB-
UNE, for example. now pays more than $4,000 per
and about its Office, and 100000 more for correspond
and telegraphiDg-in other words Tor collecting
and transmitting news. And while ITS income has
been largely increased from year TO year its expenses
have inevitably been swelled oven more rapidly; so
that at the close of 1866 IN which its receipts had
been oyer $4,000 its expenses had been very near
ly equal in amount, leaving no profit beyond fair
rent for the premises 10 owned and occupied And
yet its stockholders satisfied that they had done
good business-that the increase in the patronage
and value of the establshmentamOuntedtO fair in
teTest their investment and mightwel be accepted
~ lieu OF dividend In the good time coming with
cheaper paper and less exOrbtant charges for cable
dispatches" from the Old World they will doubtless
reap where they have now faithfully sowD. Yet hey
realize and accept the fact that journal radically
hostile TO the gainfl arts whereby the cunning and
powerful few live sumptuously without useful labor,
and often amass wealth, by panderiDg to lawless
suaty and popular vice. never hope to enrich its
publishers rapidly and vastly as though il had
soft side for the liquor traffic. and for all kindred
allurements to earnd appetite and sensual indul-
gence.
Fame IL q vapOr: popularity an accident; riches
take Wings the only earthly certainty Is oblivion
no man can foresee what day may bring forth; and
those who choer to-day will often curse tomorrow;
and yet cherish the hope that the journal projec.
ted and established viii live and flourish long after
shall have mOldcrcd into forgotten dust, being