Advertising and the Press in the late eighteenth and early nineteenth centuries: James Perry and the Morning Chronicle 1790–1821

Abstract

The thirty years during which James Perry owned and edited the Morning Chronicle, the leading Whig daily newspaper, were marked by important developments in the history of the press. In the early nineteenth century there was a notable growth in the spirit of political independence among newspaper proprietors, and they developed the classical liberal roles of the press: die impartial dissemination of news and the expression of public opinion. Professional editors and reporters came to replace the old all-rounders like William Woodfall who had combined the tasks of printing, editing and reporting; and individual proprietors supplanted the unenterprising ownership of syndicates. There was a rapid expansion in the number of daily evening and of Sunday papers and, though the number of daily morning papers remained fairly stable, dieir circulation increased steadily after about 1800. A well-conducted newspaper could serve, not simply as a side-product of a printer's or bookseller's business, or as an advertising medium for its proprietors' interests, but as a lucrative business venture in its own right. There was an extraordinary rise in the capital value of successful newspapers: the Morning Chronicle and the Morning Post, which were bought for a few hundred pounds each in die 1790s, were sold for £42,000 and £25,000 respectively in the early nineteenth century. Despite the heavy weight of taxation, which was successfully designed to restrict the sale of newspapers, proprietors were able to prosper thanks to die increasing profits diey made on advertisements. It has now been possible to calculate, from the ledgers of die Public Advertiser and Gazetteer, and from the office copies of the Morning Chronicle, some part of a newspaper's profits from advertising in the late eighteenth and early nineteenth centuries.