According to the present system of publication in America, the grant of copyright would prove to be of advantage only to a few authors—of course, I refer to the most popular. I had free admission to the books of one of the largest publishing houses in the United States, and I extracted from them the profits received by this house for works of a certain reputation. It will be perceived, that the editions published are not large. The profits of the American houses chiefly resulting from the number of works published, each of these yielding a moderate profit, which when collected together, swell into a large sum total.
| copies printed | Trade price | ||
| Fielding | 2,500 | 104 cents | many left unsold |
| Prior's Life of Goldsmith | 750 | 200 cents | sold |
| Arethusa | 1,250 | 70 cents | all sold |
| Abel Allnut | 1,250 | 52 cents | almost all sold |
| Fellow Commoner | 2,000 | 70 cents | many on hand |
| Rifle Brigade | 2,000 | 37 cents | many on hand |
| Sharpe's Essays | 1,000 | 54 cents | one half sold |
Now, as there are one hundred cents to a dollar, and the expenses of printing, paper, and advertising have to be deducted, as well as the copies left on hand, it will be evident, that the profit on each of the above works, would be too small to allow the publishers in America to give even 20 pounds for the copyright, the consequence of a copyright would therefore be, that the major portion of the works printed would not be published at all, and better works would be substituted. Of course, such authors as Walter Scott, Byron, Bulwer, etcetera, have a most extensive sale; and the profits are in proportion, but then it must be remembered that a great many booksellers publish editions, and the profits are divided accordingly. Could Sir Walter Scott have obtained a copyright in the United States, it would have bean worth to him by this time at least 100,000 pounds.
The Americans talk so much about their being the most enlightened nation in the world, that it has been generally received to be the case. I have already stated my ideas on this subject, and I think that the small editions usually published, of works not standard or elementary, prove, that with the exception of newspapers, they are not a reading nation. The fact is, they have no time to read; they are all at work; and if they get through their daily newspaper, is quite as much as most of them can effect. Previous to my arrival in the United States, and even for some time afterwards, I had an idea that there was a much larger circulation of every class of writing in America, than there really is. It is only the most popular English authors, as Walter Scott, or the most fashionable, as Byron, which have any extensive circulation; the works which at present the Americans like best, are those of fiction in which there is anything to excite or amuse them, which is very natural, considering how actively they are employed during the major portion of their existence, and the consequent necessity of occasional relaxation. When we consider the extreme cheapness of books in the United States, and the enormous price of them in this country, the facilities of reading them there, and the difficulty attending it here from the above cause, I have no hesitation in saying, that as a reading nation, the United States cannot enter into comparison with us.
As I am upon this subject, I cannot refrain from making a few remarks upon it, as connected with this country. The price of a book now published is enormous, when the prime cost of paper and printing is considered; the actual value of each three volumes of a moderate edition, which are sold at a guinea and a half, being about four shillings and sixpence, and when the edition is large, as the outlay for putting up the type is the same in both, of course it is even less; but the author must be paid, and upon the present small editions he adds considerably to the price charged upon every volume; then comes the expense of advertising, which is very heavy; the profits of the publisher, and the profits of the trade in general; for every book for which the public pay a guinea and a half, is delivered by the publisher to the trade, that is, to the booksellers, at 1 pound 1 shillings 3 pence. The allowance to the trade, therefore, is the heaviest tax of all; but it is impossible for booksellers to keep establishments, clerks, etcetera, without having indemnification. In all the above items, which so swells up the price of the book, there cannot well be any deduction made.
Let us examine into the division of profits. I am only making an approximation, but it is quite near enough for the purpose.
An edition of 1,000 copies at 1 pound 11 shillings 6 pence will give 1,575 pounds.
Positive Expenses to Publisher.
Trade allowance of 10 shillings. 3 pence per copy: 512 pounds 10 shillings.
Extra allowance. 25 for 24-40 copies: 63 pounds.