Excerpt from Roundabout Papers and Denis Duval
The failure of The National Standard and The Constitutional did not quelch Thackeray"s desire to own and edit a periodical, and in 1838 he wrote to Jerdan: "Is it fair to ask whether The Literary Gazette is for sale? I should like to treat, and thought it best to apply to the fountain-head." Apparently, since we hear no more of it, The Literary Gazette was not for sale, anyhow at terms satisfactory to the inquirer. Soon after this, Thackeray was so overwhelmed with work that he was unable to seek an opportunity to display his editorial talent, although he did in 1842 invite Messrs. Chapman and Hall to give him the control of The Foreign Quarterly Review, to which he was a contributor, and some time after his return from "The Four Georges" visit to America he suggested to Mr. George Smith the idea of a small daily print after the style of The Tatler, to be called Fair Play, but could not persuade that publisher of its chance of financial success.
In those days the price of monthly literature was high, but in 1859 the publishing house of Macmillan announced that the first number of a shilling magazine, under the editorship of Professor Masson, would appear in November; and about the same time Messrs. Smith, Elder, and Co. decided to issue a periodical at the same price. Mr. George Smith"s first step was to offer Thackeray ?350 for monthly instalments of a novel to be completed in twelve numbers - the profits of separate publication after the first edition to be equally divided between author and publisher. For the Roundabout Papers and similar contributions Thackeray received the then record price for articles - twelve guineas a page. Contrary to the belief now prevalent, Mr. Smith had no thought at first of offering the editorship to Thackeray.
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