3 JANUARY 1903, Page 24

The "Vanity Fair" Album. (Vanity Fair Office. 42s.) — This volume is

certainly an "institution," as the editor remarks with pardonable pride. It is not a little changed from what it was in early days, retaining by reasonably faithful portraiture the reputa- tion won by powerful caricature, and seldom using what was once very common, acerbity of speech. Yet it can on occasion use pen and pencil to inflict a well-merited chastisement. We may remark that one expression used in a very appreciative account of an eminent schoolmaster is scarcely correct. This gentleman is the son of a traveller who achieved considerable distinction in his time.