Early English literature—Absorption of the rarer items by public libraries or by America—Future of collecting—Poetical writers of the sixteenth and seventeenth centuries—Fruits of a long neglect—Want of discrimination among private buyers—Necessity for a better training or sounder advice—Remarks on our early literature—Small proportion of high-class authors—Safe and unsafe investments—Condition of copies—Writers whose works are of mysterious rarity—Nicholas Breton—"Three-halfpenny ware"—Paucity of great names in the post-Restoration period down to our own—Foreign works belonging to the English series: their chief places of origin—English presses—Typographical vicissitudes of London—The Scotish Series—Scotish presses—The Irish Series—Irish presses—The Irish Stock—The List of Claims, 1701—Anglo-American literature and early American editions of English Classics—The American Colonial group of books—The Bay Psalm-Book, 1640—The volumes of Statutes printed at Boston, Philadelphia, and New York—Sources of information on Anglo-American bibliography—Caution against impatience and enthusiasm.

The entire range of the earlier English and Scotish romantic, poetical, and even historical literature embraces so many items, which are either unattainable from their rarity or their cost, if they happen once in a lifetime to occur, that it may be said to be ground almost closed against the ordinary private buyer. Articles which are to be seen by the hundred in the priced catalogues of libraries dispersed twenty or thirty years since with fairly moderate figures attached to them, have, owing to severer competition from America as well as at home, either for public or private purchasers, trebled or quadrupled in value. With the more modern literature, of which the positive scarcity does not warrant this great inflation, we may reasonably look for a fall; but in the case of volumes which are really rare, it is hard to see how the chances of collectors can be improved in the future. The upshot will be, that they must be satisfied with smaller fish or modify their lines; for of old and elderly books of intrinsic value and interest there is a plentiful choice. With regard to a considerable body of Early English volumes, which formerly appeared in the catalogues of Thorpe, Rodd, the elder Pickering, and others, it is to be said that the fewness of survivors was not appreciated, and half-a-dozen public or closed libraries have absorbed them all.

It exemplifies the remarkable revolution in feeling and taste when we turn over the pages of one of William Pickering's catalogues—that for 1827—and observe a perfect set of the four folio Shakespeares, 1623-85, marked £105, while a large-paper series of Hearne's books, or of some standard edition of the classics in morocco, cost more; whereas at present the Hearnes and the classics are barely saleable at any price, and the dramatic volumes might be worth twenty times more than they brought seventy years since.

The poetical writers of the Tudor, Elizabethan, and Stuart eras have had, in a commercial sense, two or three reverses of fortune. From the period of publication down to the last quarter of the eighteenth century they were to be bought at prices little beyond waste paper, so soon as the original interest in them had subsided. The editors of Shakespeare—Pope, Hanmer, Theobald, Warburton, Capell, Steevens, Malone, Farmer, and Reed—awakened a sort of new interest in the subject, just in time to save the slender salvage of a century and a half's neglect or indifference from the mill and the kitchen-fire; and their example led to others coming upon the ground, such as West, Major Pearson, the Duke of Roxburghe, Lord Blandford, Lord Spencer, Bindley, and Heber, whose motives were primarily acquisitive. In or about 1833 a strong reaction set in, and prices fell till 1842-45, when the Bright and Chalmers sales, and the more sensible competition of the British Museum, again restored confidence and strength to the market. Since that time, our old poets have not, on the whole, suffered any marked decline, and the most recent revival is in their favour.

The Americans, it seems, call for first editions, and they have not to call twice, though they may be required to pay smartly. This new ticket owes its origin to the usual agency. One or two Transatlantic book-lovers gain the information from some source that this is the real article, that if you want fine poetry you must go to these fellows—not exactly Shakespeare and Spenser, for they had heard of them before—but to Gascoigne, Sydney, Herrick, Carew, Suckling, Lovelace, and the rest of the company; and above all, if you desire to enjoy their beauties and appreciate their genius fully and absolutely, you are referred to the editio princeps—not that which the author corrected and preferred, but the one in morocco extra, which your bookseller recommends to you.

It is by no means that we seek to ridicule or discourage the pursuit, but we want and wish to see a more healthy and discriminating spirit among buyers. Let intending collectors devote a reasonable time to a preparatory study of the subject and survey of the field and then they will perhaps accomplish better results at a lower cost. Let them, once more, not be in too violent a hurry. The abundance of transmitted writings in a metrical shape only proves more conclusively the familiar fact that it is as easy to compose verses as it is difficult to compose poetry. The long succession of authors who fall within the category of poets has received an extent of editorial care and illustration in the course of the century, however, which argues the prevalence of a more favourable opinion of their merits. The names which are at present commanding chief notice are those which have always been esteemed: Shakespeare, Fletcher, Beaumont, Jonson, Daniel, Drayton, Wither, Sir John Davis, Herrick, Carew, Lovelace, and Suckling; and among the Scotish bards Drummond takes the lead. The most singular feature about the matter is that, in the presence of all kinds of critical editions, the demand is not for them, but for the originals. The mission of the modern recensor comes to an end when, by a stupendous amount of research and erudition, he has emphasised the characteristics and gifts of a writer. Then the amateur steps forward, and expresses his readiness to give any price for the good old book, undisfigured by notes and emendations!

It is perhaps fruitless to attempt to turn the tide of common sentiment, and gentlemen must be permitted to choose their own money's worth. They may think and say that they want the volume as it left the author's hands, not diluted and overlaid by commentators. Granted, it is a product of the time, even though the author did not see the proofs, and the printer could not always decipher the MS. But then comes the larger and more general question: How much of the better class of early verse-writers are worth reading? The present deponent, without being conscious that he is very hyper-critical, states the deliberate result of actual examination and perusal when he affirms that of the minor poets of the sixteenth and seventeenth centuries, save perhaps Randolph, the productions of enduring value and interest could be brought within the compass of a moderate volume.

It would be eminently unwise for any one who treats his library as an investment to yield to the existing tendency to exorbitant prices for the later poets and playwrights, as the rise is due to ephemeral causes, and the demand, for the most part, is not likely to exhaust the supply.

If the truth may be told, the literature of past ages in all countries, and nowhere more so than in England, is, in proportion to its immense extent, excessively barren of high-class writers or written matter. Each generation of collectors discovers this fact at last; but it discovers it for itself. We disdain to profit by the experience of our precursors, just as the little girl insisted on learning at her own cost how foolish it was to do a certain thing. Because there are a few highly interesting catholic publications, your amateur must be absolutely complete in the series. If it seems expedient to possess an example or two of ancient typography, he ends by doing his best to accumulate every example in the market. There is more than a probability that the service-books of the Romish Church have their archæological and literary value: ergo, he orders every one which he sees advertised, albeit the differences are substantially far from momentous. He understands that some very curious volumes illustrative of ritualism and the various holy orders were printed here or abroad, and he proceeds to drain the booksellers' shelves throughout the universe of every bit of sorry stuff answering to this description. There are a dozen or so of Collections of Emblems, English or foreign, which are supposed to throw light on passages in Shakespeare and other authors; this is sufficient leverage for the concentration under the unfortunate gentleman's roof of a closely packed cartload.

Seriously and bibliographically speaking, there is a fairly wide difference and disparity among the old editions of the poets and romancists; and there are, and always will be, a distinguished minority, of which the selling prices may be expected to remain firm. Such men as Shakespeare, Jonson, Beaumont, Fletcher, Chapman, Massinger, and among the lyric group Barnfield, Watson, Constable, Wither (earlier works and Hallelujah), Carew, Herrick, Suckling, and Lovelace, are to be viewed as standard and stable.