A Publisher's Confession

NEW YORK DOUBLEDAY, PAGE & CO. 1905
Copyright, 1905, by DOUBLEDAY, PAGE & CO. Published March, 1905
There is expressed in these chapters so much that is practical and of interest to those engaged in the various branches of authorship, book-making and book-selling that the present publishers have availed themselves of the permission of the Boston Transcript , in which they originally appeared, to gather them together in book form.
New York, March, 1905 .

How it Operates to the Disadvantage of Both Author and Publisher—The Actual Facts and Figures—Authors’ Earnings Greatly Exaggerated by the Press—Books Sell Too Cheaply—What a Fair Price for All Concerned Would Be.
The author of a very popular book, who has written another that will be as popular, wishes me to publish it, so he is kind enough to say; and he came to see me and asked on what terms I would bring it out. In these strenuous times he can dictate his own terms to his publisher; and I happened to know that two houses had made him offers.
I confess, since I am old-fashioned, that this method of an author shocks me. If he does not openly hawk his book and his reputation, he at least tempts one publisher to bid against another, and thus invites the publisher to regard it as a mere commodity. But I suppressed my dislike of the method and went straight about the business of getting the book, for I should like to have it.
“I will give you,” I said, “twenty per cent. royalty, and I will pay you $5,000 on the day of publication.”
The words had not fallen from my mouth before I wished to recall them, for the publishing of books cannot be successfully done on these terms. There are only two or three books a year that can pay so much.
“I will consider it,” said he.
Abject as I was, I recovered myself far enough to say: “No, the offer is made for acceptance now or never— before this conversation ends. I cannot keep it open.”