estment, as well as
a source of enjoyment and fame. Considering that the times are hard, and
that pictures are luxuries, the sum thus paid for art treasures, so soon
after the centennial purchases, is a proof of the number of good patrons
that can be counted on when works of value are for sale. But the works
must be of value. At a former auction in New York "old masters" brought
these prices: Madonna Del Correggio, $30; two Murrillos, $160 and $90; a
landscape of Salvator Rosa, $55; a Tintoretto, $115; a Guido, $35; "St.
John," by Sir Joshua Reynolds, $15--and so on. Every few months we find
a so-called Titian or Raphael going for the price of the frame. Such
auctions tell a story as emphatic as that of the Johnston gallery.

When the German painters were considering whether they should send
canvases to the Centennial Exposition the "Allgemeine Zeitung" reminded
them "that their works bring twice as much in America as in Germany."
But each successive sale here shows that most buyers now know what is
worth getting and what is not, though naturally some painters are the
rage who will be forgotten fifty years hence. Still, the cynics are
wrong in decrying the eagerness to buy painters who are in fashion. What
harm in a millionaire's ordering a picture _d'ameublement_, to suit a
particular room or panel, or in his ordering from the bookseller a
hundred volumes of current novels? If the picture be good, whether
bought by the foot for furnishing or whether painted under the
microscope, its sale may aid the profession of art.

Comparing the Johnston sale with some of the famous auctions of the past
four years at the hotel Drouot, we find that in the Paturle collection
twenty-eight canvases bought $90,000, being all works of masters. The
general prices were not higher than the Johnston prices, but Ary
Scheffer's Marguerites brought 40,000 and 35,000 francs; a Troyon,
63,000; and Leopold Robert's admirable "Fishers of the Adriatic," 83,000
francs. The gallery of the Pereires brought 1,785,586 francs, which was
rather higher than the Johnston total, but I believe there were more
masterpieces. A head by Greuze brought 32,500 francs. The highest prices
seemed to be carried off by the Dutch painters, who were in force, and
three works by Hobbema, a country residence, a forest scene, and a
windmill, brought respectively 50,000, 81,000, and 30,000 francs.

The prices for good pictures, taking into account agreeableness of
subject an