The "Penny Magazine"
No one can charge the projectors of the new weekly with lacking a robust belief in its deserts and its fortunes:
"In the New Penny Magazine," the editorial pen proceeded, "readers will find themselves in possession of a treasure-house of literature old and new, both solid and entertaining. Articles of exceptional interest, stories of adventure, thrilling records of gallant deeds, vivid pages from history, anecdotal accounts of novelties, curiosities and famous personages, and graphic descriptions of Nature's most wonderful scenes, will find a place in our pages. Each number will also contain one or two complete short stories and a serial tale by the best writers. Some of the richest gems of recent years will be found side by side with the masterpieces of the present day; and the whole will be embellished by illustrations from the pen, pencil, or brush of the leading masters of black and white art.
"Excellence will be our guiding principle, and the high standard which we set before ourselves will be steadily maintained, our intention being to secure for the New Penny Magazine the proud position of being the best and cheapest that has ever been produced."
The idea that lay behind the new magazine, though not very explicitly stated, was that in the various publications of the House there were mines of permanently valuable matter which could be worked for nothing. At first, therefore, the paper was made up chiefly of reprint, more or less adapted to the taste and requirements of the day. It was in that way that it was possible to produce so large a magazine for the coin from which it took its name. A diligent and skilful editor was found in the late Wood Smith, who up to that time had belonged to a non-literary department of the House; and it made a capital start, and held its ground successfully for a few years, the proportion of original matter having, however, to be gradually increased until the reprint almost entirely disappeared. In 1900 Wood Smith joined Messrs. Harmsworth's staff, and Newman Flower left their staff to succeed him. The paper, now known simply as the Penny Magazine, has ever since been under Mr. Flower's direction, and
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