price of his journal, and the partnership of Swain and Abell—Simmons having died—came to an end, when in 1864 the Pubic Ledger was sold to George W. Childs.
The Sun at Baltimore, under Abell, rapidly became a more popular paper than the Ledger, for in three months it had a larger circulation than the Philadelphia paper had at the end of nine months. In a very short time it had a circulation twice as large as the oldest established six-cent paper in Baltimore.
George W. Childs, who took over the Public Ledger from Swain, was one of America's most distinguished philanthropists. He was one of the large school of Benjamin Franklin's disciples, men who at this time were becoming conspicuous as millionaires or business successes, having started in life without a penny, but with "industry, perseverance and a stout heart." Childs had been a member of a successful publishing house and had published a literary magazine, when he purchased the Public Ledger. His managing editor for years was William V. McKean, and to McKean should be given credit for the system of editorial ethics put forth as guiding principles of the Public Ledger. We read the constitutions of governments, but it is not often that we have the opportunity of reading the constitutional principles of a great newspaper:
"Always deal fairly and frankly with the public.
"A newspaper to be trusted and respected must give trustworthy information and counsel. It is a serious thing to mislead the people.
"Understate your case rather than overstate it.
"Have a sure voucher for every statement, especially for censure.
"There is a wide gap between accusation of crime and actual guilt.
