The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-07-02
And thus closed the Monterey episode.
THE STRUGGLING YOUNG AUTHOR.
He sugEests n Plan for Insuring tho Work
of Writers Unknown to Fame.

OF writers Unknown TO fame.
There may be nothing In this idea" said
the struggling young author. Il Just throw
it out for what it's worth. The idea Is OF an in
surance company that would insure the publ
cation OF the work OF unknown authors We
have companies that insure us against being
struck by lightning. and l don't see why we
shouldn't have companies that would insure
our being struck occasionally at least. My
idea would be something like this: The Liter
airy Insurance Company would look over
manuscript. upon which q valuation had been
placed by the author. and say whether they
would take a risk on 1t or not, and at what rate
Say. for example. that q manuscript that the
company considered lnsurable was val.
ued by tho author at 500. and that
the company would insure 1t for say
on per cent Then the author would
pay into the company S07.5O and take out a
policy on that manuscript. by which policy the
company would guarantee its publication.
with remuneration to the writer in an amount
not less than that for which 1t was insured or.
falling publication. the company would bind
itsolf to pay under certain conditions and with
In specified time a like amount.
1t is stipulated In the conditions that the
author shall make every effort to dispose OF
the manuscript. and II he shall fail he shall
turn 1t over to the company with list Of the
places he has sent it to. and they shall try 1t
for while. II neither party to the contract Is
able TO dispose Of it within the specified time.
then the company aforesaid pays over to the
party OF the first part. being the said author
hereinbefore mentioned. the sum Of 500, and
takes the man usoript. On the face OF It this
looks as though the company had simply paid
out $3.50 for bunch OF manuscript by I'm I'M
known, writer; but here's where the gamble
comes In
The company catalogues that man uscript
and then puts 1t away and waits 1t may
final y be worth nothing more than it's value as
waste paper, or 1t may be worth great deal
more. The writer makes over to the company
all right title and interest without power OF
pany's irrevocaby and II the time ever comes
when 1t can De o put on the market rroftaGiy:
nSS9y fSan stop on. the w sas Of res
be anything but a regular insurer at The
Inc " finally 10 the company; and d The The
manuscripts after the lapse OF a reasonable
But pretty soon some writer begins to lind his
stun marketable, and in proportion as it be-
comes GO marketable So OF course does the rate
even chance. or a little better than even. that
his stuff will sell, he could get it insured for
aud his name grew, the time would come. oh
happy day! when he would insure himself;
Tor his iaGors, until. instead Of his paving
something TO have publication insured. the
publishers would be OnerlnR him great pre-
miums on whatever he might write
Now is the time. when the highly suc:
cessful authors work is bringing all sorts Of
prices. whom the Literary Insurance Company
begins to look at its indexed catalogues to see
u he ever insured with them. As likely as not
he dd. and. i he did. tho CHANCES are that
they'd got u lot Of his early stun. and. sure
enough. they find in the appropriate vault
about cracker box full. which brings now
good prices. big prices-returns that make
good many losses, They get. perhaps, mora
paid out for a yanlOad. taking It as it came.
To say nothing OF the pronts likely to ac-
crue-grrat profits. very likey-I should think
there would he a fascination in the uncertainty
Of all this; nobody could tell in advance when
or where in this mountain OF manuscript a
bonanza might develop: II might he where il
was least expected or totally unlocked for but
by means 1T the ndeXed catalogues. when any
part OF this mountain, near or remote. had
been transmitted by the writer's famo from
simple. va.ueless sheets Of written paper into
silver and gold. It could be reached with easy
certainty wherever it might he. ] should think
that all this would be great fun for somebody.
some man OF ample means. who could afford
10 wait, and who liked to take chances. and
am looking 10 see that man come some day and
set UP the Literary Insurance Comp any."