ut what he expended in omnibus fare. Like
a wise man, therefore, he spreads them out into three columns, and
thus receives a compensation upon which life can be supported. If
matter must be paid for by the column, we would respectfully suggest
the following rates: For half a column, or less, twenty dollars; for
one column, ten dollars; for two columns, five dollars; for three
columns, nothing; for any amount beyond three columns, no insertion.

To conclude with a brief recapitulation:--

The commodity in which the publishers of daily newspapers deal is
news, i.e. information respecting recent events in which the public
take an interest, or in which an interest can be excited.

Newspapers, therefore, rank according to their excellence as
_newspapers_; and no other kind of excellence can make up for any
deficiency in the one thing for which they exist.

Consequently, the art of editorship consists in forming, handling, and
inspiring a corps of reporters; for inevitably that newspaper becomes
the chief and favorite journal which has the best corps of reporters,
and uses them best.

Editorial articles have their importance. They can be a powerful means
of advancing the civilization of a country, and of hastening the
triumph of good measures and good men; and upon the use an editor
makes of his opportunity of addressing the public in this way depends
his title to our esteem as a man and fellow-citizen. But, in a mere
business point of view, they are of inferior importance. The best
editorials cannot make, nor the worst editorials mar, the fortune of a
paper. Burke and Macaulay would not add a tenth part as many
subscribers to a daily paper as the addition to its corps of two
well-trained, ably-commanded reporters.

It is not law which ever renders the press free and independent.
Nothing is free or independent in this world which is not powerful.
Therefore, the editor who would conquer the opportunity of speaking
his mind freely, must do it by making his paper so excellent as a
vehicle of news that the public will buy it though it is a daily
disgust to them.

The Herald has thriven beyond all its competitors, because its
proprietor comprehended these simple but fundamental truths of his
vocation, and, upon the whole, has surpassed his rivals both in the
getting and in the display of intelligence. We must pronounce him the
best journalist and the worst editorialist this continent has ever
known; and accordingly his pa