The morning call., 1893-10-31
A NOVEL PROPOSAL.

W. T. Stead of the Reuie,o Of Rerietcs is
about TO start daily paper in London on
principles absolutely original. He has
registered his joint stock limited liability
company On footing never before heard
Of The only capital subscribed is S10o
That is enough TO put the paper in the
hands Of company. But in the articles
of Incorporation he makes himself absolute
dictator-chairman permanently, editor
permanently. car Of secrets and policy.
with power to engage in every kind Of busi-
ness and launch out into every species ot
philanthropy except life insurance, and to
send out commissions and agents all over
the earth for news and action. He does
not propose TO confne the paper to narrow
limits of success by any means. but will
maze it a propaganda as we'll as vehicle
of news. Il must succeed commercially,
or it cannot succeed at all, but it is not In
the strict sense a commercial venture. be
expects TO sustain in it a personal equation
Of high standard. 1t would be no surprise
if he sends some OF his agents into Parlia-
ment as workers behind the scenes. and
even gets them into the Lords. The man
who interviewed the Gar. sent General
Gordon out to Egypt, and wrote the Saliva
ton Army work, Through Darkest Eng
land" has lofty ideas. although many OF
his contem porsries consider him a trifle
Mohammed-like in eraZes of enthusiasm.
They do not, however. deny that he works
harder than most men, and with method,
too.
How does Mr.. Stead propose to launch
d IL nit al nf C1009 Z ia tO n
pear next year on July /. As preliminary
he requires 100. COO subscribers in advance
100000 persons TO pay 26 sbiiliDgs for a
years subscription, or S650,000 To each
subscriber he will not only supply the
paper but SIS bond with per cent inter-
est. Should the circulation run up TO
200. 900 per day be proposes to pay 10 per
cent interest. With such circulation be
should be able to secure an advertising g
patronage equal to the Daily Telegraph,
and so at jump the new venture would
be a power in the land. Unless the public
show their confidence in him as he wishes,
Mr. Stead will not begin operations. The
novelty of the proposal is likely TO capti-
vate many who may imagine that they
will have some share in the policy; but in
chief director and editor. they would be
absolutely mistaken. Stead is about as
stubborn as the law of gravitation when
he takes a notion into his head.
1t does not follow that when the paper is
prosperous the bondhoIders will be bought
out. Mr.. Stead thinks the rate of interest
nothing com pared with keeping SUBJ
scribers. He would pay out $4,000 at 10
per cent per annum, but 100000 steady
subscribers are worth far more than tha t
in influence on politics and social events.
and probably far more advertisements nt
high rates would flow in than could be
published.
Few other men could attempt such a
project. But the Prime Minister of Eng
land is hardly more prominently before
the public than w. L. Stead. and all
through his perseverance IN pegging away
at any underta king be espouses. His SEN
sationaIism has generally been in useful
directions, and people have forgiven him
when he has overshot the mark. One
:hing may be expected il he succeeds.
Some of the worst abuses of the age will
be attacked with a vigor which will end
them or mend them, if courage can do it,