contributions
of his own, might easily become L1,500, and take no serious portion of
his time either. Then, for his connection with the paper, he will become
permanently interested in a share we can guarantee to him for three
years, and which, I am confident, will be worth, at the end of that
period, at least L3,000; and the profits from that share will not be
less than L1,500 per annum. I have lately heard, from good authority,
that the annual profit of the _Times_ is L40,000, and that a share in
the _Courier_ sold last week (wretchedly conducted, it seems) at the
rate of L100,000 for the property.

But this is not all. You know well enough that the business of a
publishing bookseller is not in his shop or even his connection, but in
his brains; and we can put forward together a series of valuable
literary works, and without, observe me, in any of these plans, the
slightest risk to Mr. Lockhart. And I do most solemnly assure you that
if I may take any credit to myself for possessing anything like sound
judgment in my profession, the things which we shall immediately begin
upon, as Mr. Lockhart will explain to you, are as perfectly certain of
commanding a great sale as anything I ever had the good fortune to
engage in.

Lockhart finally accepted the editorship of the _Quarterly_, after
negotiations which brought Mr. Disraeli on a second visit to Scotland,
but he undertook no formal responsibility for the new daily paper.

In London Disraeli was indefatigable. He visited City men, for the
purpose of obtaining articles on commercial subjects. He employed an
architect, Mr. G. Basevi, jun., his cousin, with a view to the planning
of offices and printing premises. A large house was eventually taken in
Great George Street, Westminster, and duly fitted up as a printing
office.

He then proceeded, in common with Mr. Murray, to make arrangements for
the foreign correspondence. In the summer of 1824--before the new
enterprise was thought of--he had travelled in the Rhine country, and
made some pleasant acquaintances, of whom he now bethought himself when
making arrangements for the new paper. One of them was Mr. Maas, of the
Trierscher Hof, Coblentz, and Mr. Disraeli addressed him as follows:

_Mr. B. Disraeli to Mr. Maas_.

_October_ 25, 1825.

DEAR SIR,

Your hospitality, which I have twice enjoyed, convinces me that you will
not consider this as an intrusion. My friend, Mr. Murray, of Albemarle
Street, London, the m