Public Ledger Almanac
Philadelphia: Geo W. Childs, 1892. [Issue for Summer / Autumn / Winter. Wrappers. TEMPORARILY DISCOUNTED. WAS $17.50. NOW $12.00. The 1891 issue of the Public Ledger published in Philadelphia. Per Wikipedia: The Public Ledger was founded by William Moseley Swain, Arunah S. Abell, and Azariah H. Simmons, and edited by Swain. It was the first penny paper in Philadelphia. At the time, most newspapers sold for five cents (equal to $1.39 today) or more, a relatively high price which limited their appeal to readers who were reasonably well-off. // Swain and Abell drew on the success of the New York Herald, one of the first penny papers and decided to use a one cent cover price to appeal to a broad audience. They mimicked the Herald's use of bold headlines to draw sales. The formula was a success and the Public Ledger posted a circulation of 15,000 in 1840, growing to 40,000 a decade later. To put this into perspective, the entire circulation of all newspapers in Philadelphia was estimated at only 8,000 when the Public Ledger was founded....// The Public Ledger favored the abolition of slavery, and in 1838 its office was threatened by a pro-slavery mob, two days after the same pro-slavery group burned down the new Pennsylvania Hall (Philadelphia). // The Public Ledger was a technological innovator as well. It was the first daily to make use of a pony express,[citation needed] and among the first papers to use the electromagnetic telegraph. From 1846, it was printed on the first rotary printing press.// By the early 1860s, The Ledger was a money-losing operation, squeezed by rising paper and printing costs. It had lost circulation by supporting the Copperhead Policy of opposing the American Civil War and advocating an immediate peace settlement with the Confederate States of America. Most readers in Philadelphia at the time supported the Union, although there was a strong contingent of Confederate sympathizers and families with ties to the South, since many Southerners maintained second homes in Philadelphia and sent their daughters to finishing schools there. In the face of declining circulation, publishers were reluctant to increase the one-cent subscription cost, although it was needed to cover the costs of production.[3] In December 1864, the paper was sold to George William Childs and Anthony J. Drexel for a reported $20,000 (equal to $389,617 today). After acquiring the Public Ledger, Childs changed the newspaper's policies and operations. He changed the editorial policy to support the Union, raised advertising rates, and doubled the cover price to two cents. After an initial drop, circulation rebounded and the paper resumed profitability. Childs was closely involved in all operations of the paper, from the press room to the composing room. He intentionally upgraded the quality of advertisements appearing in the publication to suit a higher-end readership. Childs's efforts bore fruit and the Public Ledger became one of the most influential journals in the country. Circulation growth led the firm to outgrow its facilities; in 1866 Childs bought property at Sixth and Chestnut Streets in Philadelphia, where the Public Ledger Building was constructed. Designed by John McArthur Jr., the building had at its corner a larger-than-life-sized statue of Benjamin Franklin by Joseph A. Bailly (1825–1883), which Childs had commissioned. The quality and profitability of the Ledger improved dramatically. By 1894, The New York Times described it as "...the finest newspaper office in the country."... Toward the end of Child's leadership, the Ledger was estimated to generate profits of approximately $500,000 per year." In this copy, the first leaves apparently came loose from the issue's binding and have been reattached at the upper portion of the issue by a stick pin making this an about Very Good copy of this SCARCE MAGAZINE. This copy shows general wear as well as loss to the upper and lower portions of the spine. About Very Good. Item #3933
Price: $12.00