work at his own risk, then he should make an agreement with a publisher for an edition of a limited number; but he should by no means sell the copyright. If the work contains wood-cuts or engravings, it would be judicious to make it part of the contract that they shall become the author's property, with the view to their use in a subsequent edition of the works, if they should be required. An agreement is frequently made by which the publisher advances the money and incurs all the risk on condition of his sharing the profits with the author. The profits alluded to are, for the present work, the last item of section 382, or, 306l. 4s.
(391.) Having now explained all the arrangements in printing the present volume, let us return to section 382, and examine the distribution of the 915l. paid by the public. Of this sum 207l. was the cost of the book, 40l. was taxes, 362l. was the charges of the bookseller in conveying it to the consumer, and 306l. remained for authorship.
The largest portion, or 362l. goes into the pockets of the booksellers; and as they do not advance capital, and incur very little risk, this certainly appears to be an unreasonable allowance. The most extravagant part of the charge is the thirty-three per cent. which is allowed as profit on retailing the book.
It is stated, however, that all retail booksellers allow to their customers a discount of ten per cent. upon orders above 20s., and that consequently the nominal profit of forty-four or thirty-three per cent. is very much reduced. If this is the case, it may fairly be inquired, why the price of 2l. for
