A GREAT New York City running club!
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1851-1921 By Elmer Davis Originally published 1921 |
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was no reason why it shouldn't have paid dividends. Salaries were lower, as were living costs. The expense of news getting was still very moderate. During the later months of 1918 The Times often had a bill for cable tolls of $15,000 a week, but in the seventies $15,000 would have paid the cable tolls of all the New York newspapers for a whole year. And while the circulation of daily papers was not large, most of them had weekly editions; and the ethical standards of the time permitted papers to allow the national committees of the great parties, in presidential years, to buy and distribute the weekly edition by the hundred thousands. That source of revenue has disappeared with the disappearance of weekly editions, and with the spread of a newer conception of newspaper ethics for which
the present management of The Times may perhaps claim some degree of credit. A similar improvement has led to the exclusion of certain kinds
of advertising which in the seventies were regarded
as unobjectionable.
It may be observed that the business conscience
of The Times in the seventies was notably higher
than that of some of its contemporaries. By all
the standards of the time, its prosperity was well
deserved, as was its political influence. Neverthe
less, there was from the first a certain insecurity in
this lofty position - an insecurity due to the character which Raymond had given The Times from its
very first number; indeed, even from that prospectus which had promised that it would be free
from "bigoted devotion to narrow interests." For
there had been a painful degree of truth in Oakey
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