4
They have, moreover, a double claim to attention. They are not only
the best customers for the advertiser, they include the advertisers.
Therefore the impression made by the newspapers on this public matters
deeply. Fortunately this public is not unanimous. It may be
"capitalistic" but it contains divergent views on what capitalism is,
and how it is to be run. Except in times of danger, this respectable
opinion is sufficiently divided to permit of considerable differences
of policy. These would be greater still if it were not that publishers
are themselves usually members of these urban communities, and
honestly see the world through the lenses of their associates and
friends.
They are engaged in a speculative business, [Footnote: Sometimes so
speculative that in order to secure credit the publisher has to go
into bondage to his creditors. Information on this point is very
difficult to obtain, and for that reason its general importance is
often much exaggerated.] which depends on the general condition of
trade, and more peculiarly on a circulation based not on a marriage
contract with their readers, but on free love. The object of every
publisher is, therefore, to turn his circulation from a medley of
catch-as-catch-can news stand buyers into a devoted band of constant
readers. A newspaper that can really depend upon the loyalty of its
readers is as independent as a newspaper can be, given the economics
of modern journalism.
Pages:
314
315
316
317
318
319
320
321
322
323
324
325
326
327
328
329
330
331
332
333
334
335
336
337
338