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When he reached the last paragraph he returned to the first and read the article through again. He laid it down and faced his employer. "Mr. McQuade, the Call and the Times are the only papers in town that pay dividends. The Times as it stands to-day is a good, legitimate business investment. Do you want the circulation to drop ten thousand and the big advertisers to cancel their contracts?"

He takes existence sadly too sadly, it may well be; but his drabs and greys provide an atmosphere that is almost inseparable to some of us from our gaunt London streets. In Farringdon Road, for example, I look up instinctively to the expressionless upper windows where Mr. Luckworth Crewe spreads his baits for intending advertisers.

We shall find that they have been selling for years at "unprecedentedly low prices," that they are "selling at less than cost," that they are pushing off goods at rates "ruinously low," and that they can offer bargains to buyers that will confound their competitors. I suppose that none of these advertisers think they are lying, or, if they do, that their lying is of a harmful character.

This is a notable and constructive generation now beginning its work in America, and joining hands with the few remaining Undefiled of Europe. They are not advertisers, nor self-servers. They do not believe in intellect alone. Their genius is intuitionally driven, not intellectually. For the intellect is a product of sunlight, its energy supplied by human blood, a temporal heat.

Not the least thought of investigating the solvency of advertisers seems to have occurred to anybody. Nor was any rank free from the poison. Almost a hundred projects were before the public at once, some of them incredibly brazen humbugs.

Perhaps the newspapers had scolded too shrilly, demanding the house-cleaning of a neighbourhood which had become a bad smell in the sensitive nostrils of honest taxpayers and valued advertisers. Certainly burglaries in the wholesale silk district had occurred so numerously as to constitute a public scandal.

Advertisers again are now discovering that it pays to vary the monotony with which a poster appeals to the eye by printing in different colours those copies which are to hang near each other, or still better, by representing varied incidents in the career of 'Sunny Jim' or 'Sunlight Sue. A candidate is also an artificial thing.

At last, I began teaching school, and working my way to a better education than our local standard accepted as either useful or necessary, and Jim and I drifted apart. He had always kept up a voluminous correspondence with that class of advertisers whose black-letter "Agents Wanted" is so attractive to the farmer-boy; and he was usually agent for some of their wares.

"You may have seen him at the head of his company of walking advertisers. Ha! ha!" Marcus remembered having seen that honest face, that thick head of hair, and that identical cap, sticking out of the top of a portable wooden frame covered with placards, setting forth the virtues of quack medicines, the excellencies of dry goods, or the unequalled attractions of concert saloons.

Hitherto he had received his correspondence interestedly and pleasurably but passively. He began to take it up actively and sharply. He began to write back, either graciously approving or very sharply criticising his samples, his specimens and his free trials; and the advertisers responded voluminously, either abjectly with regret and enclosing further samples for Mr.