audacious manner was founded the newspaper which, in the
course of forty-eight years, has grown to be one of national and
international importance. Its founder died in 1872, aged seventy-seven
years, in the enjoyment of the largest revenue which had ever resulted
from journalism in the United States, and leaving to his only son the
most valuable newspaper property, perhaps, in the world.

That son, the present proprietor, has greatly improved the "Herald." He
possesses his father's remarkable journalistic tact, with less
objectionable views of the relation of the daily paper to the public.
His great enterprises have been bold, far-reaching, almost national in
their character. Mr. Frederick Hudson, who was for many years the
managing editor of the paper, has the following interesting paragraph
concerning father and son:--

"Somewhere about the year 1866, James Gordon Bennett, Sr., inducted
James Gordon Bennett, Jr., into the mysteries of journalism. One of his
first _coups_ was the Prusso-Austrian war. The cable transmitted the
whole of the King of Prussia's important speech after the battle of
Sadowa and peace with Austria, costing in tolls seven thousand dollars
in gold."

He has followed this bold _coup_ with many similar ones, and not a few
that surpassed it. Seven thousand dollars seems a good deal of money to
pay for a single feature of one number of a daily paper. It was not so
much for a paper, single issues of which have yielded half as much as
that in clear profit. And the paper was born in a cellar!

THREE JOHN WALTERS,

AND THEIR NEWSPAPER.

The reader, perhaps, does not know why the London "Times" is the first
journal of Europe. I will tell him.

The starting of this great newspaper ninety-nine years ago was a mere
incident in the development of another business. Almost every one who
has stood in a printing-office watching compositors set type must have
sometimes asked himself, why not have whole words cast together, instead
of obliging the printer to pick up each letter separately? Such words as
_and_, _the_, _but_, _if_, _is_, and even larger words, like _although_
and _notwithstanding_, occur very often in all compositions. How easy it
would be, inexperienced persons think, to take up a long word, such as
_extraordinary_, and place it in position at one stroke. I confess that
I had this idea myself, long before I knew that any one else had ever
had it.

In the year 1785 there was a prin