The Union and journal. [volume] (Biddeford, Me.) 1858-1882, 1870-11-18
LITERARY SUSPENSIONS.


gossip of men in Now York city, which
we copy:
LITERARY SUSPENSIONS.
Putnam's monthly and Brick Pomeroy's
daily have each failed. They were started
about the same time, and were well APP
prised that the chances were against them; (;
but thcy were determined to make the
trial. and now l presume are satisfied.
Putnam has lost In tho speculation. but
probably not heavily. Ipresume. however.
that POmeroy has lost all be Onco was
worth. Magazines arc very risky enter
priscs. I can reckon more than = dozen
which have been started in this city with
in fcw years, all Of which has failed.
An equal number of newspapers have also
been started unsuccessfully. Itseoms sad
that honest efforts which contemplate the
Improvement Of mankind should thus in
variably fail. Without newspapers and
periodicals. life would be but vegetation; |;
and yet these institutions maintain the
most precarious existence. Putnam has
never made much money. He Is man Of
fine literary taste and stands high In tho
book.trade; but he Is nota moncy.making
publisher. He never got into the rum OF
profitable books. and had 1t not been for
two authors, 1t is probable that his success
would have been at an end years ago.
These authors were Washington Irving,
and Bayard Taylor. In 1S47 Putuam en-
tered into contract with Irving to issue u
uniform edition of his w.rks, aud that con-
tract remains in operation. This edition
took, with popularity which surprised
both author and publisher. The sales
must have amounted to nearly million
dollars; for lrving's per rcentngo. which
was about ten pcr cent. reached the sum
of ninety thousand. Bayard Taylor was
a journeyman printer of taste and ambi-
ton. who. while yet q youth, made tho
tour of Europe and wrote the most pop
u!ar of all books OF travel. Il was Put
mans good fortune to issue this and all Of
Taylor's subsequent works. These two
authors have enabled him to meet the In.
ccss,nt losses arising from other literary
ventures. One of the worst OF these was
the illustrated catalogue Of the Crystal
Palace. in 1852. The privilege of this
publication was put up for bids, and Put
nani's offer vastly exceeded all others.
But the catalogue did not sell, notwith-
standing its pictures, and tho publishers
loss could not have been much less than
$1,000. Just now the book business is
SO very dull that neither Irving's nor Tay-
lor's books sell; and hence tho veteran
publisher. like many others In tho trade.
is sufferer.
|. None of our publishers have got rich OK.
cept the Harpers, the ApplctOns, and
Barnes & Co. The last named have made
money out Of school books, and the other
two concerns have hold on the reading
community which gives them wealth. A
similar risk prevails in the old world. The
most popular author of his day was Wal.
ter Scott; and yet his joint publishers.
the Bannatynes and Constable IL Co., failed
In the most ruinous manner, causing Mt
the same time the bankruptcy of tho au-
thor, who from eminent wealth was sud-
denly precipitated into poverty. II tho
book trade does not improve, We may ex-
pect some failures Of very important
character.
RED HOT.
The failure of Brick Pomeroy was an
assured fsct from tho very beginning.
The old proverb concerning the fool and
his money never was more correctly IL
lustrnted. Pomeroy was spoiled by early
success, which, indeed. Ii far harder trial
than adversity. He Is an easy writer and
sometimes shows great deal OF power;
hut all this Is not enough for success In
New York. He went west early In life,
and his journal. the In Crosse Democrat,
reached y large circulation. II was well
adapted to the rude habits of Western
Democracy. being coarsely abusive, but
at the same time racy and attractive.
During the war excitement such q Journal
might be profitable; but tho calm reign OF
peace demands n different tone. Mr..
Ponicroy. Mt the age OF thirty-hve had
made the enormous sum Of 500, 900.
This was enough to dazzle HIM. He
chafed under his distance from the great
centre OF politics, and In an unlucky hour
he planned n new Journal. TO be establish-
ed In this city. To use his fnvorite term,
New York needed a ..rcd hot" Journal.
The World was too elevated In style and
tone for the masses; besides this, It was
controlled by Belmont and tho capitalists,
and did not represent the people. II wns
deficient in pungent strength. and hence .
field was ready for such . man rs no.
The two years which have elapsed have
taught Mr.. Pomeroy his error. Now
Y York did not wanthim. The rude Dcmoc-
rscy. whose organ he desired to be, neither
read papers nor hear them read. Pome-
roy opened his effort with n poster headed
with these words: "DHmn Il! Damn it"
and the paper has been most oiiectually
damned. r
A TExrEsruous TEA ror.
The controversy between Tilton and
Fulton has afforded considerable gossip;