London company established by printers and publishers was called the Company of Stationers. At first one man often undertook all the varieties of book production and bookselling, but gradually the four broad divisions of printers, publishers, second-hand booksellers, and auctioneers came into existence.
We know but little of the early publishers, although much attention is now being paid to the lives and works of the old book producers, and we may hope to have in course of time much material for a history of them. The great houses founded in the eighteenth and at the beginning of the present century are still with us, and large additions have been made of late years to the ever-increasing roll. At all events, there is no sign of a failure of published books; whether they are all worthy to be published is another matter.
Great changes have been made in the publishing business, and one of the chief of these is the frequent sale of remainders of new books. It is worth a remark in passing that good books which have been sold off often become scarce and more valuable than those which have only been sold in the ordinary way. James Lackington was one of the first to make a great business out of the sale of remainders; he was followed by Tegg, and these two men did much to cheapen and popularise literature.
Charles Knight will ever be remembered with honour as the great pioneer in the cheapening of good literature. The excellence of his shilling volumes was a marvel when they were first published, and even now it would be difficult to find their equal. Knight had a great belief in the adequacy of the penny as a price for a number of a book. He published large quantities of books at a penny a number—as one of the first cheap periodicals—the Penny Magazine, and the first of cheap encyclopædias—the Penny Cyclopædia. How much good has been done by the large issues of such excellent books as Knight’s weekly and monthly volumes, the Libraries of Useful and Entertaining Knowledge, Constable’s Miscellany,