would in that case be printing, of the nine books that would not succeed sufficiently, a larger edition than he would ever sell. He must begin in all these cases of doubtful grave books by printing small editions.
Q. Where an author brings a book to a publisher, the first question the publisher asks himself is, of course, this: "Is this book likely to take?" and then, if he thinks it will take, he has to consider further, in what degree will it take? Will it have a large sale or limited sale? Because, in each case the book may be a success, though in a different degree. Then, if it is competent for any other publisher to publish an edition, it may be assumed that such edition would be a cheap one; and, therefore, has not the original publisher this further question to put to himself: "The book, I think, will take; but, looking to the chances of a cheaper edition, I must see what compensation I can give to the author, publishing this book as cheaply as possible, so that I may not be underbid hereafter"?
A. But I think that the experiences of publishers show that it does not answer their purpose to run the risk of cheap editions with the great mass of graver books; inasmuch as nine out of ten of them do not pay their expenses—and do not pay their expenses, not because of the high price, but because they do not get into vogue at all. The publisher would argue, "It will never do to print cheap editions of all these ten, because one out of the number will succeed."
Q. Of course he does not do so now, because there is not any possibility of another publisher underbidding him by a cheap edition; but I am assuming a case where any publisher, on payment of a royalty, can publish a cheap edition; then the original publisher would have to consider, "How cheaply can I publish this edition so that I may not be underbid by another publisher?"
A. That, I say, would altogether depend upon the experience of the publishers as to what was, in the average of cases, the sale of a new book. In most instances the sale of a new grave book is very small—not sufficient to pay the expenses; and I think the publisher would make a great mistake if, in the case of such a book, he counted upon getting a large sale at once by a low price. The other argument would, it seems to me, be the one he would use. In fact, I not only think so, but I find my publishers think so.
Q. (Chairman). Do you wish to instance any particular case in which you believe that a fixed royalty, such as we have heard about, would have hindered the diffusion of a book of permanent value?
A. Yes, I have an extremely striking, and, I think, wholly conclusive, instance of the fatal effects—the extensive fatal effects—that would have resulted had there been any such system existing as that proposed. I refer to the "International Scientific Series." I happen to know all about the initiation of that. It was set on foot by an American friend of mine, Professor Youmans, who came over here for the purpose. I
