A hundred years ago From the 'Spectator'. 29 June 1867—The
Day has been this week in the Bankruptcy Court, and it appears that the paper was really started by leading Adullamites. Lord Grosvenor, Lord Elcho, and Lord Lichfield subscribed 3,000!. to start it, to be repaid in a year if the paper prospered, and Mr. J. Hutton hoped to add 17,0001. from other sources, which, however, failed him, and the paper stopped. The three gentlemen named, though legally irre- sponsible. have agreed to accept the debts of the paper, which, as they stipulated in writing that they should have "its guidance and control," is rather more fair than they seem to think Clearly they do not understand much about newspapers, or they would not have fancied it possible to obtain a pro- fit on a new daily in a single year, or to start a strong paper with 3,0001., or to make a paper repre- senting a cultivated and therefore necessarily limited class pay at a penny.
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