The writers, not only from editorial discipline, but from the instinctive desire to be understood, write in the character of their paper's personality.

If it is sold to a proprietor holding or wishing to advocate different opinions, it must either frankly proclaim itself as a new thing or must make it appear by slow and solemn argumentative steps that the new attitude is a necessary development of the old.

It is therefore rightly felt that a capitalist who buys a paper for the sake of using its old influence to strengthen a new movement is doing something to be judged by other moral standards than those which apply to the purchase of so much printing-machinery and paper.

He may be destroying something which has been a stable and intelligible entity for thousands of plain people living in an otherwise unintelligible world, and which has collected round it affection and trust as real as was ever inspired by an orator or a monarch..