its remarks at first, as the comptroller had refused its reporters all access to his books. In addition to this annoyance, some threats had been uttered against that journal. In March, 1871, one of the city papers published the following paragraph:

We are informed that negotiations are in progress for the sale of the New York Times to a company, in which Mr. Peter Cooper, Moses Taylor, Cyrus W. Field, A. Oakey Hall, James Fisk, Jr., Jay Gould, Peter B. Sweeny, and William M. Tweed are to be the principal stockholders. The present managers of the establishment will leave as soon as the purchase is concluded. The intention of those who propose to buy is to run the paper for the present ostensibly in the Republican interest; but as soon as the Hon. A. O'Hall has completed his term as mayor, he will become the editor, and then the political character of the concern will doubtless be changed. We learn, also, that the first overtures for this transaction were made by George Jones, through a third party, to Mr. Sweeny, about six months ago, but that the plan has not been entertained until recently.

This was too much for the manager of the Times to read with patience and resignation. He had too much spirit to submit to such a statement. On the 28th of March, the following manifesto, in reply, appeared in the Times:

The above statement appears in a journal which is said to be controlled by the Tammany Ring.

་

It is my duty to say that the assertion that I have ever offered to dispose of my property in the Times to Mr. Sweeny, or any body connected with him, or that I have ever entered into negotiations for that purpose, or am ever likely to do so, directly or indirectly, is a fabrication from beginning to end. I am aware that Mr. Nathaniel Sands, Secretary of the Citizens' Association, has been for some time actively engaged in the effort to purchase or otherwise silence this journal, in the interest of his Tammany employers. But, believing that the course which the Times is pursuing is that which the interests of the great body of the public demand, and that it would be a base betrayal of the public to turn aside from that course until an honest government and an incorruptible judiciary are restored to the community, no money that could be offered should induce me to dispose of a single share of my property to the Tammany faction, or to any man associated with it, or, indeed, to any person or party whatever, until this struggle is fought out. I have the same confidence in the integrity and firmness of my fellow-proprietors, and believe that they will decline to sell their honor to a corrupt clique at the instigation of " Republicans" who are as unprincipled as their employers. Rather than prove false to the public in the present crisis, I would, if necessity by any possibility arose, immediately start another journal to denounce those frauds upon the people which are so great a scandal to the city, and I should carry with me in this renewal of our present labors the colleagues who have already stood by me through a long and arduous contest. Even if the Times could be silenced by some fresh abuse of judicial authority, as I believe it can not be, it would not cause a week's cessation of the exposures which we are now making of the frauds committed by the "Ring." I have from the first number of the Times taken too active a part in its management, and feel far too deep a solicitude for its good name, to dishonor it by making it the advocate of mendacity and corruption. I pledge myself to persevere in the present contest, under all and any circumstances that may arise, through good report and evil report, in success or in failure; and even though the "Ring" and its friends offered me for my interest in the property as many millions of dollars as they annually plunder from the city funds, it would not change my purpose. This determination is, I have every reason to believe, fully shared by my co-proprietors, and by the staff who act with me in the paper. GEORGE JONES.

It was clear from this that although Mr. Jones was determined not to abate one jot or tittle the exposures he had commenced of

The War on the "Tammany Ring."

643

the corruptions of the Tammany leaders, yet he was not certain of always having the Times ready to spread these corruptions before the people. But this point was settled on the 19th of July, 1871, and was thus announced:

The shares in the New York Times attached to the Raymond estate, representing about one third of the property, were yesterday purchased by Mr. E. B. Morgan, of Aurora, Cayuga County. Mr. Morgan was an original stockholder, and has been for some time past one of the managing partners of the paper, in conjunction with Mr. George Jones, another of the original proprietors. These two gentlemen now hold eighty-two out of the hundred shares of stock in their own hands. It has been repeatedly asserted that the Raymond shares were likely to fall into the possession of the New York "Ring," and it is in order to assure our friends of the groundlessness of all such statements that we make known the actual facts. The price paid in ready money for the shares in question was $375,000. Down to the time of Mr. Raymond's death, the shares had never sold for more than $6000 each. Mr. Morgan has now paid upward of $11,000 each for thirtyfour of them, and this transaction is the most conclusive answer which could be furnished to the absurd rumors sometimes circulated to the effect that the course taken by the New York Times toward the Tammany leaders had depreciated the value of the property.

The public may feel assured that the Times will not swerve from the policy which it has long pursued, but that it will hereafter be more persistent than ever in its efforts to bring about those political reforms which the people require and expect.

The Times thus placed entirely under the control of two gentlemen of decided character and energy, the war against the "Tammany Ring" was carried on with the utmost vigor, and the end was the utter annihilation of the immense power the leaders of the "Ring" had acquired in the metropolis. The particulars of this extraordinary affair are too fresh on the public mind to need repeating here. There has been nothing equal to the result thus obtained in the history of journalism. The developments of the stupendous corruptions in the city government made by the Times aroused the indignation of the people through the length and breadth of the land. The gigantic increase of the public debt; the enormous wealth acquired in two or three years by a few men in office; the way the State Legislature was influenced, corrupted, and controlled, were fully exposed in the Times. It was boldly and fearlessly done by that paper, and Messrs. Jones and Morgan deserve well of their country. The only similar instance on record is that of the London Times in exposing, regardless of all risk, a well-laid plan for defrauding the bankers of Europe of immense sums of money by a "ring" of skillful and expert forgers. This exposure led to a vexatious and costly libel suit. The merchants and bankers of London, in appreciation of the great and important service thus rendered them, subscribed a large sum to reimburse the journalists for the costs incurred. The proprietor of the London Times very properly refused the money. He had simply done his duty to the public. The subscribers to the fund thereupon decided to appropriate the

amount in a testimonial to that influential journal. It was divided into four parts: one paid for a mural slab inserted in the principal room of the Exchange in London, bearing a suitable inscription; another was paid for a similar slab, and placed in the office of the Times; the remaining two parts established two scholarships, always to be known as the Times scholarships, at Oxford and Cambridge; and thus journalism, in its highest state of usefulness and value in the community, was fully and appropriately recognized and rewarded.

If the merchants and bankers of the English metropolis thus appreciated the service rendered by the London Times, how should the taxpayers of the American metropolis recognize that rendered by the New York Times to them, and, indeed, to the entire community? Is it not made clear by these statements that the Press is the real palladium of the rights and interests of the public? that the Press is, in fact, no longer the Fourth Estate, but the first and the highest in the land? that, with a free and independent Press, there is safety for the people from the corruptions and machinations of political leaders and office-holders?

The effect of the developments made in the Times was seen at the polls throughout the state at the November elections. Instead of electing every candidate by overwhelming majorities, as had been the usual custom of the metropolis, only two or three of the Tammany nominations succeeded; and the change in the popular vote on the state ticket, which was divested as far as possible of the corrupt influence, is an indication of this power of the newspaper when properly wielded.

Anti-Tammany.

Tammany.

86,668

34,391

83,326

54,137

This is a revolution of 23,000 votes in the city, and nearly 52,000 in the state. But the revolution in the metropolis was much more thorough than these figures indicate. On the local tickets the popular vote was as follows:

The Tammany majority in the city in 1870 was 52,277. The Anti-Tammany majority in 1871 was, on the Supreme Court ticket, 43,211. Popular change in one year, 95,488 votes-one of the most wonderful political revolutions on record!

In its annual announcement for 1872 the Times said:

This journal is now thoroughly identified with the greatest political necessity

The Future of the Times.

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645

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of the hour-uncompromising warfare against all forms of corruption, whether in national or local government. For years past the Times has been exposing the demoralizing schemes of self-interested politicians, and its recent warfare upon the Tammany Democrats has been received with universal approval. They purpose that the Times shall continue to keep clear of all narrow and unworthy influences and cliques, and aim to represent the great body of the public as distinguished from personal factions. It occupies a perfectly independent position, and is free to speak the truth on all subjects and about all men. Its greatly-increased circulation throughout the country adds to its power and influence. It will continue to be a faithful exponent of Republican principles, and advocate with untiring energy every cause which tends to further the welfare of the people. This is twenty years' history of the New York Times.

CHAPTER XL.

THE NEW YORK LEDGER.

ITS ORIGIN.-ITS FIRST NAME.-WHY BONNER BOUGHT IT.-HOW HE BROUGHT IT INTO NOTICE.-MRS. SIGOURNEY THE FIRST CONTRIBUTOR.— WHO WRITES for the Ledger?-BonnER'S ADVERTISEMENTS.-HOW HE MANAGED THE HERALD.-HIS SYSTEM.-ANXIETY OF HIS PASTOR.-NovELS BY TELEGRAPH. - INTERESTING INCIDENT. - - CORRESPONDENCE WITH GENERAL GRANT AND HENRY WARD BEECHER.-HIS HORSES.-HIS COUNTRY SEAT AND THE FEVER AND AGUE.-CIRCULATION.

WHAT is in a name? Is that of the New York Ledger a suitable one for such a paper? The Public Ledger of Philadelphia is appropriately named, because it keeps the public posted in the affairs of the world. The Herald is a good name for a newspaper as the harbinger of the tidings of the day to every one. The Times is excellent, because it is "the embodiment of the times." The Journal of Commerce and the Commercial Bulletin are capital titles for purely commercial sheets. The Daily Advertiser is good for a paper devoted to business notices. The Post is not a bad name if, as with the Ledger, all are correctly posted therein. The Intelligencer is not an inappropriate name; nor is the Sun for a morning paper; nor are the Dispatch, the Express, the Telegram, in bad taste. The News is the name for a paper that always gives the latest intelligence. Such names as the Tribune, the World, the Opinion, the Record, the Nation, the Commonwealth, are after the style of the French. There are the Opinion Nationale, the Monde, the France, the Peuple, published in Paris.

It is only since the Revolution of '76 that new names have been given to newspapers. The old titles of Gazette, News-Letter, and Mercury, which run through previous generations, were only varied by the names of the places where they were printed, and the artistic devices which adorned the first page. Now, in addition to the Herald, Journal, Tribune, Times, Sun, World, Traveller, and Star, which are in the nineteenth century, we find such curious names as the following list exhibits :

Iowa Hawkeye.
The Billet Doux.
Corn-stalk Fiddle.

St. Louis Picket Guard.
Presque Isle Sunrise.
The Election Bell.

The Daily Lever.
The Artery.
Our Society.

Nashville Orthopolitan.
The Coon-skinner.

The Eye of Mississippi.